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THE LOCAL FEDERAL CREDIT UNION

Jun, 30, 2023 — THE LOCAL FEDERAL CREDIT UNION is a federal credit union headquartered in DALLAS, TX with 1 branch location and about $28.74 million in total assets. Opened 47 years ago in 1977, THE LOCAL FEDERAL CREDIT UNION has about 4,731 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)
8787 N Stemmons Fwy Ste 185
DALLAS, TX 75247-3721
Phone:(214) 638-0404
Fax:(214) 638-0068
Website:https://www.thelocalfcu.com
Branches:1 branch locations
Members:4,731
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, 2021
FHLB Member:No
Low Income Designation:No
Assets:$28,743,666
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 6,615,926
TOTAL INVESTMENTS 0
Loans Held for Sale 0
 
 Real Estate Loans 2,306,343
 Unsecured Loans 3,682,256
 Other Loans 15,803,095
 TOTAL LOANS 21,791,694
 (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) -61,968
 Land And Building 0
 Other Fixed Assets 57,302
 NCUSIF Deposit 238,113
 All Other Assets 0
  TOTAL ASSETS 28,743,666
LIABILITIES & CAPITAL:  
 Dividends Payable 0
 Notes & Interest Payable 0
 Accounts Payable & Other Liabilities -7,970
 Uninsured Secondary Capital and Subordinated Debt Included in Net Worth 0
 Share Drafts 3,407,074
 Regular shares 14,531,722
 All Other Shares & Deposits 5,876,424
  TOTAL SHARES & DEPOSITS 23,815,220
  TOTAL LIABILITIES 23,807,250
 Regular Reserve 0
 Other Reserves 0
 Undivided Earnings 4,936,416
  TOTAL EQUITY 4,936,416
  TOTAL LIABILITIES, SHARES, & EQUITY 28,743,666
INCOME & EXPENSE  
 Loan Income 1,366,490
 Investment Income 34,043
 Other Income 399,219
 Total Employee Compensation & Benefits 1,048,657
 NCUSIF Premiums Expense 0
 Total Other Operating Expenses 666,433
 Non-operating Income & (Expense) 0
 NCUSIF Stabilization Income N/A
 Provision for Loan/Lease Losses or Total Credit Loss Expense 21,050
 Cost of Funds 38,329
 NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM N/A
Net Income (Loss) 189,468
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