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GULF SHORE FEDERAL CREDIT UNION

Mar, 31, 2021 — GULF SHORE FEDERAL CREDIT UNION is a federal credit union headquartered in Texas City, TX with 1 branch location and about $15.04 million in total assets. Opened 84 years ago in 1937, GULF SHORE FEDERAL CREDIT UNION has about 1,893 members and employs 5 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.


Name:GULF SHORE FEDERAL CREDIT UNION
Address:
(Main Office)
P. O. Box 1499
Texas City, TX 77592-1499
Phone:(409) 945-2318
Fax:(409) 948-0612
Website:http://www.gulfshorefcu.org
Branches:1 branch locations
Members:1,893
Credit Union Type:Federal Credit Union
Charter Number:2442
Membership Type:Multiple common bond - Primarily petroleum refining
Corporate Credit Union:No
Year Opened:1937
Last Audited:May 01, 2020
FHLB Member:No
Low Income Designation:No
Assets:$15,042,318
CEO/Manager:Susan M Herring
Chairperson:Ronald N Szopinski

Call Report

  • Credit Builder
  • Risk Based Loans
  • ATM/Debit Card Program
  • Low Cost Wire Transfers

Financial Summary

» See also Statement of Financial Condition
ASSETS:$ Amount
Cash & Equivalents 2,984,207
TOTAL INVESTMENTS 2,925,636
Loans Held for Sale 0
 
 Real Estate Loans 0
 Unsecured Loans 352,355
 Other Loans 8,480,018
 TOTAL LOANS 8,832,373
 (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) -49,018
 Land And Building 206,876
 Other Fixed Assets 52
 NCUSIF Deposit 107,559
 All Other Assets 34,633
  TOTAL ASSETS 15,042,318
LIABILITIES & CAPITAL:  
 Dividends Payable 5,447
 Notes & Interest Payable 0
 Accounts Payable & Other Liabilities 85,339
 Uninsured Secondary Capital and Subordinated Debt Included in Net Worth 0
 Share Drafts 4,065,818
 Regular shares 7,219,902
 All Other Shares & Deposits 2,493,835
  TOTAL SHARES & DEPOSITS 13,779,555
  TOTAL LIABILITIES 13,870,341
 Regular Reserve 222,256
 Other Reserves 0
 Undivided Earnings 949,721
  TOTAL EQUITY 1,171,977
  TOTAL LIABILITIES, SHARES, & EQUITY 15,042,318
INCOME & EXPENSE  
 Loan Income 99,176
 Investment Income 11,452
 Other Income 10,799
 Total Employee Compensation & Benefits 74,926
 NCUSIF Premiums Expense 0
 Total Other Operating Expenses 47,913
 Non-operating Income & (Expense) 0
 NCUSIF Stabilization Income N/A
 Provision for Loan/Lease Losses or Total Credit Loss Expense 0
 Cost of Funds 6,185
 NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM N/A
Net Income (Loss) 15,168
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