Dec, 31, 2023 — GULF SHORE FEDERAL CREDIT UNION is a federal credit union headquartered in TEXAS CITY, TX with 1 branch location and about $27.63 million in total assets. Opened 87 years ago in 1937, GULF SHORE FEDERAL CREDIT UNION has about 3,248 members and employs 8 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 |
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Address: (Main Office) | 1306 N Logan St TEXAS CITY, TX 77590-5046 |
Phone: | (409) 945-2318 |
Fax: | (409) 948-0612 |
Website: | https://www.gulfshorefcu.org |
Branches: | 1 branch locations |
Members: | 3,248 |
Credit Union Type: | Federal Credit Union |
Charter Number: | 2442 |
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Membership Type: | Multiple common bond - Primarily petroleum refining |
Corporate Credit Union: | No |
Year Opened: | 1937 |
Last Audited: | Oct 01, 2023 |
FHLB Member: | No |
Low Income Designation: | No |
Assets: | $27,627,469 |
CEO/Manager: | Susan M Herring |
Chairperson: | Clifton R Snodgrass |
ASSETS: | $ Amount |
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Cash & Equivalents | 1,419,425 |
TOTAL INVESTMENTS | 0 |
Loans Held for Sale | 0 |
Real Estate Loans | 0 |
Unsecured Loans | 1,325,915 |
Other Loans | 13,018,289 |
TOTAL LOANS | 14,344,204 |
(Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -164,454 |
Land And Building | 186,251 |
Other Fixed Assets | 5,201 |
NCUSIF Deposit | 250,750 |
All Other Assets | 0 |
TOTAL ASSETS | 27,627,469 |
LIABILITIES & CAPITAL: | |
Dividends Payable | 28,072 |
Notes & Interest Payable | 0 |
Accounts Payable & Other Liabilities | 142,767 |
Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
Share Drafts | 4,499,342 |
Regular shares | 13,377,693 |
All Other Shares & Deposits | 5,900,738 |
TOTAL SHARES & DEPOSITS | 23,777,773 |
TOTAL LIABILITIES | 23,948,612 |
Regular Reserve | 0 |
Other Reserves | 0 |
Undivided Earnings | 3,678,857 |
TOTAL EQUITY | 3,678,857 |
TOTAL LIABILITIES, SHARES, & EQUITY | 27,627,469 |
INCOME & EXPENSE | |
Loan Income | 696,449 |
Investment Income | 250,208 |
Other Income | 64,228 |
Total Employee Compensation & Benefits | 457,802 |
NCUSIF Premiums Expense | 0 |
Total Other Operating Expenses | 410,011 |
Non-operating Income & (Expense) | 732,319 |
NCUSIF Stabilization Income | N/A |
Provision for Loan/Lease Losses or Total Credit Loss Expense | 20,000 |
Cost of Funds | 88,483 |
NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
Net Income (Loss) | 868,782 |
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