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FINANCIAL SECURITY CREDIT UNION

Dec, 31, 2023 — FINANCIAL SECURITY CREDIT UNION is a federally insured state chartered credit union headquartered in CARLSBAD, NM with 2 branch locations and about $59.81 million in total assets. Opened 70 years ago in 1954, FINANCIAL SECURITY CREDIT UNION has about 5,166 members and employs 15 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.


ABA Routing Number: 312276108
Name:FINANCIAL SECURITY CREDIT UNION
Address:
(Main Office)
1105 W Pierce St
CARLSBAD, NM 88220-4014
Phone:(575) 887-6030
Fax:(575) 885-5054
Website:https://www.finseccu.com
Branches:2 branch locations
Members:5,166
Credit Union Type:Federally Insured State Chartered Credit Union
Charter Number:62452
Membership Type:State chartered natural person
Corporate Credit Union:No
Year Opened:1954
Last Audited:Dec 01, 2022
FHLB Member:No
Low Income Designation:No
Assets:$59,810,009
CEO/Manager:Judy Carrasco
Chairperson:Jason Crockett

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Financial Summary

» See also Statement of Financial Condition
ASSETS:$ Amount
Cash & Equivalents 7,568,326
TOTAL INVESTMENTS 0
Loans Held for Sale 0
 
 Real Estate Loans 0
 Unsecured Loans 4,725,887
 Other Loans 36,752,740
 TOTAL LOANS 41,478,626
 (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) -272,458
 Land And Building 2,915,903
 Other Fixed Assets 100,761
 NCUSIF Deposit 497,596
 All Other Assets 0
  TOTAL ASSETS 59,810,009
LIABILITIES & CAPITAL:  
 Dividends Payable 0
 Notes & Interest Payable 0
 Accounts Payable & Other Liabilities 476,113
 Uninsured Secondary Capital and Subordinated Debt Included in Net Worth 0
 Share Drafts 8,954,684
 Regular shares 28,685,482
 All Other Shares & Deposits 13,322,117
  TOTAL SHARES & DEPOSITS 50,962,283
  TOTAL LIABILITIES 51,438,396
 Regular Reserve 0
 Other Reserves 406,968
 Undivided Earnings 7,964,645
  TOTAL EQUITY 8,371,613
  TOTAL LIABILITIES, SHARES, & EQUITY 59,810,009
INCOME & EXPENSE  
 Loan Income 1,946,215
 Investment Income 563,732
 Other Income 1,033,748
 Total Employee Compensation & Benefits 1,206,343
 NCUSIF Premiums Expense 0
 Total Other Operating Expenses 1,441,686
 Non-operating Income & (Expense) -3,698
 NCUSIF Stabilization Income N/A
 Provision for Loan/Lease Losses or Total Credit Loss Expense 20,000
 Cost of Funds 173,144
 NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM N/A
Net Income (Loss) 947,529
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