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NIZARI PROGRESSIVE FEDERAL CREDIT UNION

Mar, 31, 2021 — NIZARI PROGRESSIVE FEDERAL CREDIT UNION is a federal credit union headquartered in Sugar Land, TX with 4 branch locations and about $239.39 million in total assets. Opened 32 years ago in 1989, NIZARI PROGRESSIVE FEDERAL CREDIT UNION has about 13,740 members and employs 53 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.


ABA Routing Number: 113093881
Name:NIZARI PROGRESSIVE FEDERAL CREDIT UNION
Address:
(Main Office)
14090 SW Freeway Suite 260
Sugar Land, TX 77478-3678
Phone:(281) 921-8520
Fax:(281) 921-8555
Website:http://www.nizaricu.org
Branches:4 branch locations
Members:13,740
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, 2020
FHLB Member:Yes
Low Income Designation:No
Assets:$239,388,218
CEO/Manager:Shaukathussain Jaffer
Chairperson:Malik Jamal

Call Report

  • Commercial Loans
  • Interest Only or Payment Option 1st Mortgage Loans
  • Micro Business Loans
  • Overdraft Lines of Credit
  • Overdraft Protection
  • Participation Loans
  • Real Estate Loans
  • Risk Based Loans
  • Share Secured Credit Cards
  • ATM/Debit Card Program
  • Commercial Share Accounts
  • Insurance/Investment Sales
  • International Remittances
  • Low Cost Wire Transfers

Financial Summary

» See also Statement of Financial Condition
ASSETS:$ Amount
Cash & Equivalents 39,760,566
TOTAL INVESTMENTS 42,714,163
Loans Held for Sale 0
 
 Real Estate Loans 82,002,660
 Unsecured Loans 34,164,813
 Other Loans 33,778,882
 TOTAL LOANS 149,946,355
 (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) -1,444,301
 Land And Building 4,354,884
 Other Fixed Assets 285,023
 NCUSIF Deposit 1,770,897
 All Other Assets 2,000,631
  TOTAL ASSETS 239,388,218
LIABILITIES & CAPITAL:  
 Dividends Payable 0
 Notes & Interest Payable 5,300,000
 Accounts Payable & Other Liabilities 2,498,675
 Uninsured Secondary Capital and Subordinated Debt Included in Net Worth 0
 Share Drafts 44,109,065
 Regular shares 121,363,441
 All Other Shares & Deposits 42,167,494
  TOTAL SHARES & DEPOSITS 207,640,000
  TOTAL LIABILITIES 215,438,675
 Regular Reserve 1,100,000
 Other Reserves 3,100,094
 Undivided Earnings 19,749,449
  TOTAL EQUITY 23,949,543
  TOTAL LIABILITIES, SHARES, & EQUITY 239,388,218
INCOME & EXPENSE  
 Loan Income 1,606,813
 Investment Income 64,379
 Other Income 410,639
 Total Employee Compensation & Benefits 785,149
 NCUSIF Premiums Expense 0
 Total Other Operating Expenses 560,125
 Non-operating Income & (Expense) 0
 NCUSIF Stabilization Income N/A
 Provision for Loan/Lease Losses or Total Credit Loss Expense -37,500
 Cost of Funds 260,551
 NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM N/A
Net Income (Loss) 608,737
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