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National Credit Union Service Organization

GECU CREDIT UNION
— Statement of Financial Condition

Then NCUA provides quarterly Call Reports using accounting and statistical information from each credit union. The Call Report includes Balance Sheet, Income Statement and more.

Statement of financial condition for GECU CREDIT UNION as of: December 31, 2023.
Charter Number: 60058

ASSETS$ Amount
CASH:  
 1. Cash on Hand 96,866,080
 2. Cash on Deposit (Amounts Deposited in Financial Institutions) 69,630,795
 3. Cash Equivalents (Investments with Original Maturities of Three Months or Less) 0
INVESTMENTS:  
 4. Equity Securities 20,557,104
 5. Trading Debut Securities 27,316,438
 6. Available-for-Sale Debt Securities 6,317,766
 7. Held-to-Maturity Debt Securities 829,823,769
 8. Deposits in commercial banks, S&Ls, savings banks 0
 9. Loans to and investments in natural person credit unions 0
 10. Nonperpetual Capital Account 0
 11. Perpetual Contributed Capital 750,000
 12. All other investments in corporate credit unions 0
 13. All other investments 0
 14. TOTAL INVESTMENTS 0
LOANS HELD FOR SALE:  
 15. Loans Held for Sale 1,028,078
LOANS AND LEASES:  
 16. TOTAL LOANS & LEASES 2,879,417,864
 17. Less: Allowance for Loan & Lease Losses 26,977,930
 18: Less: Allowance for Credit Losses on Loans & Leases 0
OTHER ASSETS:  
 19. Foreclosed and Repossessed Assets 453,878
 20. Land and Building 48,224,677
 21. Other Fixed Assets 26,750,285
 22. NCUA Share Insurance Capitalization Deposit 30,030,149
 23. Intangible Assets 0
 24. Other Assets 0
25. TOTAL ASSETS 4,125,176,781
LIABILITIES$ Amount
 1. Draws Against Lines of Credit 253,451,034
 2. Other Notes, Promissory Notes and Interest Payable 0
 3. Borrowing Repurchase Transactions 0
 4. Subordinated Debt 0
 5. Subordinated Debt included in Net Worth 0
 6. TOTALS 253,451,034
 7. Non-Trading Derivative Liabilities 0
 8. Accrued Dividends & Interest Payable on Shares & Deposits 547,849
 9. Accounts Payable and Other Liabilities 52,279,258
 10. Allowance for Credit Losses on Off-Balance Sheet Credit Exposures 0
SHARES/DEPOSITS:  
 11. Share Drafts 834,349,218
 12. Regular Shares 1,375,740,797
 13. Money Market Shares 274,595,444
 14. Share Certificates 618,748,031
 15. IRA/KEOGH Accounts 245,809,352
 16. All Other Shares 19,503,743
 17. TOTAL SHARES 3,368,746,585
 18. Nonmember Deposits 10,220,000
 19. TOTAL SHARES AND DEPOSITS 3,378,966,585
20. TOTAL LIABILITIES  
 21. Accounts Held by Member Public Units 0
 22. Accounts Held by Nonmember Public Units 0
 23. Employee Benefit Member Shares 0
 24. Employee Benefit Nonmember Shares 0
 25. 529 Plan Member Deposits 0
 26. Non-dollar denominated deposits 0
 27. Health Savings Account 0
 28. Dollar Amount of Share Certificates equal to or greater than $100,000 (Excluding brokered share certificates participated out by the broker in shares of less than $100,000) 330,444,245
 29. Dollar Amount of IRA/Keogh Accounts equal to or greater than $100,000 97,357,315
 30. Dollar Amount of Share Drafts Swept to Regular Shares or Money Market Accts as part of Sweep Program 0
 31. Dollar Amount of Commercial Share Accounts 135,141,828
 32. Negative Shares Included in All Other Unsecured Loans/Lines of Credit 674,224
EQUITY:  
 33. Undivided Earnings 405,745,749
 34. Regular Reserves 0
 35. Appropriation for Non-Conforming Investments (State Credit Unions ONLY) 0
 36. Other Reserves.(Appropriations of Undivided Earnings) 0
 37. Equity Acquired in Merger 0
 38. Miscellaneous Equity 0
 39. Other Comprehensive Income (not already included in items 40 - 43) 264,660
 40. Accumulated Unrealized Net Gains (Losses) on Cash Flow Hedges 0
 41. Accumulated Unrealized Gains (Losses) on Available for Sale Debt Securities -428,302
 42. Accumulated Unrealized Losses for OTTI (Due to Other Factors) on HTM Debt Securities 0
 43. Net Income (unless this amount is already included in Undivided Earnings) 34,349,948
44. TOTAL LIABILITIES, SHARES, AND EQUITY 4,125,176,781
Statement of Income & Expense$ Amount
INTEREST INCOME YEAR-TO-DATE FOR THE CYCLE  
 1. Interest on Loans (Gross-before interest refunds) 109,155,937
 2. (Less) Interest Refunded 0
 3. Income from Investments (Including Interest and Dividends, excluding securities held in a trading account) 10,348,729
 4. Unrealized Gain (Loss) due to change in fair value of Equity and Trading Debt Securities 0
 5. TOTAL INTEREST INCOME 119,504,666
INTEREST EXPENSE YEAR-TO-DATE FOR THE CYCLE  
 6. Dividends on Shares (Includes dividends earned during current period) 1,498,520
 7. Interest on Deposits (Total interest expense for deposit accounts) (State Credit Union ONLY) 9,171,307
 8. Interest on Borrowed Money 4,331,429
 9. TOTAL INTEREST EXPENSE 15,001,256
 10. Provision for Loan & Lease Losses 6,206,658
 11. Total Credit Loss Expense 0
 12. NET INTEREST INCOME AFTER PROVISION FOR LOAN AND LEASE LOSSES or CREDIT LOSS EXPENSE 0
NON-INTEREST INCOME YEAR-TO-DATE FOR THE CYCLE  
 13. Fee Income 29,446,750
 14. Other Operating Income (Includes unconsolidated CUSO Income and Gain (Loss) associated with the Hedged Item (NonInvestment Assets) in a Non-Trading, Fair Value (FV) Derivatives Hedge) 0
 15. Gain (Loss) on Equity Securities (DO NOT include Gain (Loss) on other securities) 0
 16. Gain (Loss) on Other Securities (DO NOT include Gain or Loss on Equity Securities) 0
 17. Gain (Loss) on Non-Trading Derivatives 0
 18. Gain (Loss) on Disposition of Fixed Assets 568,168
 19. Gain from Bargain Purchase (Merger) 0
 20. Other Non-operating Income (Expense) 501,711
 21. TOTAL NON-INTEREST INCOME 49,184,160
NON-INTEREST EXPENSE YEAR-TO-DATE FOR THE CYCLE  
 22. Total Employee Compensation and Benefits 49,639,642
 23. Travel and Conference Expense 764,533
 24. Office Occupancy Expense 7,519,237
 25. Office Operations Expense 45,105,270
 26. Educational and Promotional Expenses 4,043,376
 27. Loan Servicing Expense 2,000,063
 28. Professional and Outside Services 1,226,776
 29. Total Member Insurance 3,825
 30. Operating Fees (Examination and/or supervision fees) 146,422
 31. Miscellaneous Operating Expenses 2,681,820
 32. TOTAL NON-INTEREST EXPENSE 113,130,964
33. NET INCOME (LOSS) 34,349,948
RESERVE TRANSFERS YEAR-TO-DATE FOR THE CYCLE  
 34. Transfer to Regular Reserves 0
Interest Rate# LoansAmount
Non-Commercial Loans/Lines of Credit
 1. Unsecured Credit Card Loans9.2774,317$272,746,723
 2. Payday Alternative Loans (PALs I and PALs II)0.000$0
 3. Non-Federally Guaranteed Student Loans12.001$2,372
 4. All Other Unsecured Loans/Lines of Credit - include SBA PPP loans12.8242,181$144,913,889
 5. New Vehicle Loans6.6027,464$803,553,277
 6. Used Vehicle Loans6.6946,733$949,052,348
 7. Leases Receivable0.000$0
 8. All Other Secured Non-Real Estate Loans/Lines of Credit3.354,286$36,115,541
 9. Loans/Lines of Credit Secured by a First Lien on a single 1- to 4- Family Residential Property7.386,747$525,519,059
 10. Loans/Lines of Credit Secured by a Junior Lien on a single 1- to 4- Family Residential Property11.25944$26,929,390
 11. All Other Real Estate Loans/Lines of Credit7.3855$2,025,256
Commercial Loans / Lines of Credit
 12. Commercial Loans/Lines of Credit Real Estate Secured4.95154$117,288,967
 13. Commercial Loans/Lines of Credit Not Real Estate Secured5.4110$1,271,042
 14. TOTAL LOANS & LEASES202,892$2,879,417,864
YEAR-TO-DATE LOAN INFORMATIONNumberAmount
 15. Loans Granted Year-to-Date144,865$1,294,995,907
  a. Payday Alternative Loans (PALs I and PALs II) Granted Year-to-Date0$0
MISCELLANEOUS LOAN INFORMATIONNumberAmount
 16. Non-Federally Guaranteed Student Loans in Deferred Status0$0
 17. Loans Outstanding to Credit Union Officials and Senior Executive Staff107$13,690,527
GOVERNMENT GUARANTEED LOANSNumberOutstanding BalanceGuaranteed Portion
 18. Non-Commercial Loans  
  a. 1. Small Business Administration5$16,249$16,086
  a. 2. Paycheck Protection Program Loans (Included in 18.a.1.)5$16,249-
  b. Other Government Guaranteed0$0$0
 19. Commercial Loans  
  a. Small Business Administration2$178,182$107,378
  b. Other Government Guaranteed0$0$0