Sep, 30, 2025 — NIZARI PROGRESSIVE FEDERAL CREDIT UNION is a federal credit union headquartered in SUGAR LAND, TX with 6 branch locations and about $470.62 million in total assets. Opened 37 years ago in 1989, NIZARI PROGRESSIVE FEDERAL CREDIT UNION has about 18,537 members and employs 71 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.
| Name: | NIZARI PROGRESSIVE FEDERAL CREDIT UNION |
|---|---|
| Address: (Main Office) | 14090 Southwest Fwy Ste 260 SUGAR LAND, TX 77478-3678 |
| Phone: | (281) 921-8520 |
| Fax: | (281) 921-8555 |
| Website: | https://www.nizaricu.org |
| Branches: | 6 branch locations |
| Members: | 18,537 |
| Credit Union Type: | Federal Credit Union |
| Charter Number: | 24384 |
|---|---|
| Membership Type: | Associational - Religious, other than those designated 'low-income' |
| Corporate Credit Union: | No |
| Year Opened: | 1989 |
| Last Audited: | Dec 01, 2024 |
| FHLB Member: | Yes |
| Low Income Designation: | No |
| Assets: | $470,615,405 |
| CEO/Manager: | Malik Jamal |
| Chairperson: | Naveed Ali |
| ASSETS: | $ Amount |
|---|---|
| Cash & Equivalents | 34,908,679 |
| TOTAL INVESTMENTS | 0 |
| Loans Held for Sale | 0 |
| Real Estate Loans | 184,540,776 |
| Unsecured Loans | 48,169,744 |
| Other Loans | 85,125,397 |
| TOTAL LOANS | 317,835,917 |
| (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -1,821,834 |
| Land And Building | 4,703,497 |
| Other Fixed Assets | 525,007 |
| NCUSIF (National Credit Union Share Insurance Fund) Deposit | 2,659,662 |
| All Other Assets | 29,437 |
| TOTAL ASSETS | 470,615,405 |
| LIABILITIES & CAPITAL: | |
| Dividends Payable | 0 |
| Notes & Interest Payable | 20,000,000 |
| Accounts Payable & Other Liabilities | 4,996,601 |
| Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
| Share Drafts | 79,777,644 |
| Regular shares | 110,943,758 |
| All Other Shares & Deposits | 215,034,478 |
| TOTAL SHARES & DEPOSITS | 405,755,880 |
| TOTAL LIABILITIES | 430,752,481 |
| Regular Reserve | 0 |
| Other Reserves | 2,804,623 |
| Undivided Earnings | 37,058,301 |
| TOTAL EQUITY | 39,862,924 |
| TOTAL LIABILITIES, SHARES, & EQUITY | 470,615,405 |
| INCOME & EXPENSE | |
| Loan Income | 13,324,383 |
| Investment Income | 3,598,447 |
| Other Income | 2,552,365 |
| Total Employee Compensation & Benefits | 4,148,278 |
| NCUSIF (National Credit Union Share Insurance Fund) Premiums Expense | 0 |
| Total Other Operating Expenses | 3,073,984 |
| Non-operating Income & (Expense) | 1,164 |
| NCUSIF Stabilization Income | N/A |
| Provision for Loan/Lease Losses or Total Credit Loss Expense | 685,500 |
| Cost of Funds | 7,280,290 |
| NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
| Net Income (Loss) | 4,326,421 |
| ↑ Back to Top | |