Jun, 30, 2021 — VALEX FEDERAL CREDIT UNION is a federal credit union headquartered in TIOGA, LA with 3 branch locations and about $35.21 million in total assets. Opened 72 years ago in 1949, VALEX FEDERAL CREDIT UNION has about 2,781 members and employs 12 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.
| Name: | VALEX FEDERAL CREDIT UNION |
|---|---|
| Address: (Main Office) | PO BOX 1375 TIOGA, LA 71477 |
| Phone: | (318) 443-1200 |
| Fax: | (318) 449-4779 |
| Website: | http://www.valexfcu.org |
| Branches: | 3 branch locations |
| Members: | 2,781 |
| Credit Union Type: | Federal Credit Union |
| Charter Number: | 6116 |
|---|---|
| Membership Type: | Multiple common bond - Primarily federal, state, local government |
| Corporate Credit Union: | No |
| Year Opened: | 1949 |
| Last Audited: | Jun 01, 2020 |
| FHLB Member: | No |
| Low Income Designation: | No |
| Assets: | $35,206,641 |
| CEO/Manager: | Chris Chelette |
| Chairperson: | Martin Borland |
| ASSETS: | $ Amount |
|---|---|
| Cash & Equivalents | 9,927,477 |
| TOTAL INVESTMENTS | 7,359,285 |
| Loans Held for Sale | 0 |
| Real Estate Loans | 4,084,245 |
| Unsecured Loans | 2,370,881 |
| Other Loans | 10,617,754 |
| TOTAL LOANS | 17,072,880 |
| (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -125,731 |
| Land And Building | 183,139 |
| Other Fixed Assets | 43,175 |
| NCUSIF Deposit | 298,176 |
| All Other Assets | 448,240 |
| TOTAL ASSETS | 35,206,641 |
| LIABILITIES & CAPITAL: | |
| Dividends Payable | 0 |
| Notes & Interest Payable | 0 |
| Accounts Payable & Other Liabilities | 18,330 |
| Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
| Share Drafts | 6,744,355 |
| Regular shares | 21,108,376 |
| All Other Shares & Deposits | 4,553,318 |
| TOTAL SHARES & DEPOSITS | 32,406,049 |
| TOTAL LIABILITIES | 32,424,379 |
| Regular Reserve | 1,412,646 |
| Other Reserves | 0 |
| Undivided Earnings | 1,369,616 |
| TOTAL EQUITY | 2,782,262 |
| TOTAL LIABILITIES, SHARES, & EQUITY | 35,206,641 |
| INCOME & EXPENSE | |
| Loan Income | 426,850 |
| Investment Income | 62,782 |
| Other Income | 45,427 |
| Total Employee Compensation & Benefits | 251,072 |
| NCUSIF Premiums Expense | 0 |
| Total Other Operating Expenses | 318,622 |
| Non-operating Income & (Expense) | 61,907 |
| NCUSIF Stabilization Income | N/A |
| Provision for Loan/Lease Losses or Total Credit Loss Expense | 59,989 |
| Cost of Funds | 41,191 |
| NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
| Net Income (Loss) | 24,766 |
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