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G.A.P. FEDERAL CREDIT UNION

Dec, 31, 2023 — G.A.P. FEDERAL CREDIT UNION is a federal credit union headquartered in JOHNSTOWN, PA with 5 branch locations and about $67.11 million in total assets. Opened 87 years ago in 1937, G.A.P. FEDERAL CREDIT UNION has about 6,316 members and employs 17 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.


Name:G.A.P. FEDERAL CREDIT UNION
Address:
(Main Office)
111 Franklin St Rm 224
JOHNSTOWN, PA 15901
Phone:(814) 535-4165
Fax:(814) 535-2175
Website:https://www.gapfcu.org
Branches:5 branch locations
Members:6,316
Credit Union Type:Federal Credit Union
Charter Number:2405
Membership Type:Multiple common bond - Primarily federal, state, local government
Corporate Credit Union:No
Year Opened:1937
Last Audited:Mar 01, 2023
FHLB Member:No
Low Income Designation:No
Assets:$67,110,881
CEO/Manager:Diane G Lopez
Chairperson:Wendy Hudak

Call Report

  • Payday Alternative Loans (PAL Loans)
  • International Remittances
  • Low Cost Wire Transfers

Financial Summary

» See also Statement of Financial Condition
ASSETS:$ Amount
Cash & Equivalents 2,905,771
TOTAL INVESTMENTS 0
Loans Held for Sale 0
 
 Real Estate Loans 8,173,281
 Unsecured Loans 8,491,489
 Other Loans 15,613,345
 TOTAL LOANS 32,278,115
 (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) -388,795
 Land And Building 158,804
 Other Fixed Assets 52,962
 NCUSIF Deposit 593,291
 All Other Assets 0
  TOTAL ASSETS 67,110,881
LIABILITIES & CAPITAL:  
 Dividends Payable 2,183
 Notes & Interest Payable 0
 Accounts Payable & Other Liabilities 247,046
 Uninsured Secondary Capital and Subordinated Debt Included in Net Worth 0
 Share Drafts 11,578,949
 Regular shares 36,902,374
 All Other Shares & Deposits 10,231,175
  TOTAL SHARES & DEPOSITS 58,712,498
  TOTAL LIABILITIES 58,961,727
 Regular Reserve 0
 Other Reserves 676,020
 Undivided Earnings 7,473,134
  TOTAL EQUITY 8,149,154
  TOTAL LIABILITIES, SHARES, & EQUITY 67,110,881
INCOME & EXPENSE  
 Loan Income 1,782,298
 Investment Income 794,588
 Other Income 92,089
 Total Employee Compensation & Benefits 840,524
 NCUSIF Premiums Expense 0
 Total Other Operating Expenses 1,015,632
 Non-operating Income & (Expense) 444,360
 NCUSIF Stabilization Income N/A
 Provision for Loan/Lease Losses or Total Credit Loss Expense 110,284
 Cost of Funds 241,518
 NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM N/A
Net Income (Loss) 904,443
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