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THE LOCAL FEDERAL CREDIT UNION

Mar, 31, 2021 — THE LOCAL FEDERAL CREDIT UNION is a federal credit union headquartered in Dallas, TX with 1 branch location and about $29.53 million in total assets. Opened 44 years ago in 1977, THE LOCAL FEDERAL CREDIT UNION has about 5,040 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:5,040
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:$29,529,662
CEO/Manager:Jim Ratliff
Chairperson:Ralph Compton

Call Report

  • Real Estate Loans
  • Risk Based Loans
  • Share Secured Credit Cards
  • ATM/Debit Card Program
  • Check Cashing
  • Insurance/Investment Sales
  • Low Cost Wire Transfers

Financial Summary

» See also Statement of Financial Condition
ASSETS:$ Amount
Cash & Equivalents 9,701,817
TOTAL INVESTMENTS 1,502,708
Loans Held for Sale 0
 
 Real Estate Loans 2,409,264
 Unsecured Loans 3,069,858
 Other Loans 12,575,459
 TOTAL LOANS 18,054,581
 (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) -128,277
 Land And Building 0
 Other Fixed Assets 117,094
 NCUSIF Deposit 176,025
 All Other Assets 105,714
  TOTAL ASSETS 29,529,662
LIABILITIES & CAPITAL:  
 Dividends Payable 0
 Notes & Interest Payable 0
 Accounts Payable & Other Liabilities 765,152
 Uninsured Secondary Capital and Subordinated Debt Included in Net Worth 0
 Share Drafts 3,847,771
 Regular shares 14,599,248
 All Other Shares & Deposits 5,803,697
  TOTAL SHARES & DEPOSITS 24,250,716
  TOTAL LIABILITIES 25,015,868
 Regular Reserve 326,935
 Other Reserves 0
 Undivided Earnings 4,186,859
  TOTAL EQUITY 4,513,794
  TOTAL LIABILITIES, SHARES, & EQUITY 29,529,662
INCOME & EXPENSE  
 Loan Income 404,919
 Investment Income 719
 Other Income 114,627
 Total Employee Compensation & Benefits 368,272
 NCUSIF Premiums Expense 0
 Total Other Operating Expenses 213,043
 Non-operating Income & (Expense) 0
 NCUSIF Stabilization Income N/A
 Provision for Loan/Lease Losses or Total Credit Loss Expense -2,099
 Cost of Funds 12,243
 NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM N/A
Net Income (Loss) -26,778
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