Dec, 31, 2023 — AMOCO FEDERAL CREDIT UNION is a federal credit union headquartered in TEXAS CITY, TX with 11 branch locations and about $1.42 billion in total assets. Opened 87 years ago in 1937, AMOCO FEDERAL CREDIT UNION has about 105,753 members and employs 325 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.
| Name: | AMOCO FEDERAL CREDIT UNION |
|---|---|
| Address: (Main Office) | 2300 Texas Ave TEXAS CITY, TX 77590 |
| Phone: | (409) 948-8541 |
| Fax: | (409) 948-3944 |
| Website: | https://www.amocofcu.org |
| Branches: | 11 branch locations |
| Members: | 105,753 |
| Credit Union Type: | Federal Credit Union |
| Charter Number: | 2441 |
|---|---|
| Membership Type: | Multiple common bond - Primarily petroleum refining |
| Corporate Credit Union: | No |
| Year Opened: | 1937 |
| Last Audited: | Sep 01, 2023 |
| FHLB Member: | Yes |
| Low Income Designation: | No |
| Assets: | $1,423,552,612 |
| CEO/Manager: | Shawn Bailey |
| Chairperson: | J (Rusty) R Norman |
| ASSETS: | $ Amount |
|---|---|
| Cash & Equivalents | 73,444,396 |
| TOTAL INVESTMENTS | 0 |
| Loans Held for Sale | 0 |
| Real Estate Loans | 429,548,421 |
| Unsecured Loans | 132,431,234 |
| Other Loans | 612,775,406 |
| TOTAL LOANS | 1,174,755,061 |
| (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -8,378,411 |
| Land And Building | 23,947,445 |
| Other Fixed Assets | 1,840,190 |
| NCUSIF Deposit | 11,437,421 |
| All Other Assets | 2,021,272 |
| TOTAL ASSETS | 1,423,552,612 |
| LIABILITIES & CAPITAL: | |
| Dividends Payable | 0 |
| Notes & Interest Payable | 64,000,000 |
| Accounts Payable & Other Liabilities | 17,405,058 |
| Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
| Share Drafts | 214,734,327 |
| Regular shares | 361,005,804 |
| All Other Shares & Deposits | 658,738,930 |
| TOTAL SHARES & DEPOSITS | 1,234,479,061 |
| TOTAL LIABILITIES | 1,315,884,119 |
| Regular Reserve | 0 |
| Other Reserves | 8,965,653 |
| Undivided Earnings | 98,702,840 |
| TOTAL EQUITY | 107,668,493 |
| TOTAL LIABILITIES, SHARES, & EQUITY | 1,423,552,612 |
| INCOME & EXPENSE | |
| Loan Income | 61,639,379 |
| Investment Income | 5,926,986 |
| Other Income | 6,635,491 |
| Total Employee Compensation & Benefits | 31,539,583 |
| NCUSIF Premiums Expense | 0 |
| Total Other Operating Expenses | 27,560,100 |
| Non-operating Income & (Expense) | -151,412 |
| NCUSIF Stabilization Income | N/A |
| Provision for Loan/Lease Losses or Total Credit Loss Expense | 8,270,000 |
| Cost of Funds | 19,471,601 |
| NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
| Net Income (Loss) | 2,803,522 |
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