Dec, 31, 2023 — GULF TRUST FEDERAL CREDIT UNION is a federal credit union headquartered in PASCAGOULA, MS with 1 branch location and about $26.25 million in total assets. Opened 52 years ago in 1972, GULF TRUST FEDERAL CREDIT UNION has about 2,965 members and employs 11 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 TRUST FEDERAL CREDIT UNION |
|---|---|
| Address: (Main Office) | 2533 Denny Ave PASCAGOULA, MS 39567 |
| Phone: | (228) 762-0659 |
| Fax: | (228) 762-0377 |
| Website: | https://www.gulftrustcu.org |
| Branches: | 1 branch locations |
| Members: | 2,965 |
| Credit Union Type: | Federal Credit Union |
| Charter Number: | 24908 |
|---|---|
| Membership Type: | Associational - Religious, other than those designated 'low-income' |
| Corporate Credit Union: | No |
| Year Opened: | 1972 |
| Last Audited: | Sep 01, 2023 |
| FHLB Member: | No |
| Low Income Designation: | No |
| Assets: | $26,254,200 |
| CEO/Manager: | Jennifer Spiriti |
| Chairperson: | Lee Guy |
| ASSETS: | $ Amount |
|---|---|
| Cash & Equivalents | 2,205,933 |
| TOTAL INVESTMENTS | 0 |
| Loans Held for Sale | 0 |
| Real Estate Loans | 8,476,927 |
| Unsecured Loans | 2,660,089 |
| Other Loans | 6,695,383 |
| TOTAL LOANS | 17,832,399 |
| (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -72,442 |
| Land And Building | 547,161 |
| Other Fixed Assets | 38,468 |
| NCUSIF Deposit | 221,770 |
| All Other Assets | 0 |
| TOTAL ASSETS | 26,254,200 |
| LIABILITIES & CAPITAL: | |
| Dividends Payable | 605 |
| Notes & Interest Payable | 0 |
| Accounts Payable & Other Liabilities | 190,343 |
| Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
| Share Drafts | 2,450,050 |
| Regular shares | 10,453,914 |
| All Other Shares & Deposits | 8,249,282 |
| TOTAL SHARES & DEPOSITS | 21,153,245 |
| TOTAL LIABILITIES | 21,344,193 |
| Regular Reserve | 0 |
| Other Reserves | 0 |
| Undivided Earnings | 4,910,007 |
| TOTAL EQUITY | 4,910,007 |
| TOTAL LIABILITIES, SHARES, & EQUITY | 26,254,200 |
| INCOME & EXPENSE | |
| Loan Income | 996,499 |
| Investment Income | 169,017 |
| Other Income | 497,074 |
| Total Employee Compensation & Benefits | 520,400 |
| NCUSIF Premiums Expense | 0 |
| Total Other Operating Expenses | 560,262 |
| Non-operating Income & (Expense) | 0 |
| NCUSIF Stabilization Income | N/A |
| Provision for Loan/Lease Losses or Total Credit Loss Expense | 114,639 |
| Cost of Funds | 171,384 |
| NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
| Net Income (Loss) | 311,619 |
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