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THE LOCAL FEDERAL CREDIT UNION

Jun, 30, 2021 — THE LOCAL FEDERAL CREDIT UNION is a federal credit union headquartered in Dallas, TX with 1 branch location and about $29.69 million in total assets. Opened 44 years ago in 1977, THE LOCAL FEDERAL CREDIT UNION has about 4,875 members and employs 13 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.


Name:THE LOCAL FEDERAL CREDIT UNION
Address:
(Main Office)
P.O. Box 560303
Dallas, TX 75356
Phone:(214) 638-0404
Fax:(214) 638-0068
Website:http://www.thelocalfcu.com
Branches:1 branch locations
Members:4,875
Credit Union Type:Federal Credit Union
Charter Number:22747
Membership Type:Multiple common bond - Primarily transportation
Corporate Credit Union:No
Year Opened:1977
Last Audited:Dec 01, 2020
FHLB Member:No
Low Income Designation:No
Assets:$29,690,710
CEO/Manager:Jim Ratliff
Chairperson:Ralph Compton

Call Report

  • Low Cost Wire Transfers

Financial Summary

» See also Statement of Financial Condition
ASSETS:$ Amount
Cash & Equivalents 8,856,587
TOTAL INVESTMENTS 1,502,708
Loans Held for Sale 0
 
 Real Estate Loans 2,393,056
 Unsecured Loans 3,179,219
 Other Loans 13,436,624
 TOTAL LOANS 19,008,899
 (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) -120,540
 Land And Building 0
 Other Fixed Assets 104,752
 NCUSIF Deposit 223,050
 All Other Assets 115,254
  TOTAL ASSETS 29,690,710
LIABILITIES & CAPITAL:  
 Dividends Payable 0
 Notes & Interest Payable 0
 Accounts Payable & Other Liabilities 923,546
 Uninsured Secondary Capital and Subordinated Debt Included in Net Worth 0
 Share Drafts 3,515,045
 Regular shares 14,776,540
 All Other Shares & Deposits 5,916,754
  TOTAL SHARES & DEPOSITS 24,208,339
  TOTAL LIABILITIES 25,131,885
 Regular Reserve 326,935
 Other Reserves 0
 Undivided Earnings 4,231,890
  TOTAL EQUITY 4,558,825
  TOTAL LIABILITIES, SHARES, & EQUITY 29,690,710
INCOME & EXPENSE  
 Loan Income 824,757
 Investment Income 1,485
 Other Income 243,752
 Total Employee Compensation & Benefits 737,009
 NCUSIF Premiums Expense 0
 Total Other Operating Expenses 406,444
 Non-operating Income & (Expense) 0
 NCUSIF Stabilization Income N/A
 Provision for Loan/Lease Losses or Total Credit Loss Expense 15,039
 Cost of Funds 24,900
 NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM N/A
Net Income (Loss) 18,253
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