Jun, 30, 2024 — 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 |
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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 |
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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 |
ASSETS: | $ Amount |
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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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