Mar, 31, 2021 — GALVESTON GOVERNMENT EMPLOYEES CREDIT UNION (GGECU) is a federally insured state chartered credit union headquartered in Dickinson, TX with 1 branch location and about $7.57 million in total assets. Opened 88 years ago in 1933, GALVESTON GOVERNMENT EMPLOYEES CREDIT UNION (GGECU) has about 2,140 members and employs 3 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.
| Name: | GALVESTON GOVERNMENT EMPLOYEES CREDIT UNION |
|---|---|
| Address: (Main Office) | PO Box 1149 Dickinson, TX 77539-1149 |
| Phone: | (409) 908-9834 |
| Fax: | (409) 908-9448 |
| Website: | http://www.ggecu.com |
| Branches: | 1 branch locations |
| Members: | 2,140 |
| Credit Union Type: | Federally Insured State Chartered Credit Union |
| Charter Number: | 67427 |
|---|---|
| Membership Type: | State chartered natural person |
| Corporate Credit Union: | No |
| Year Opened: | 1933 |
| Last Audited: | Dec 01, 2020 |
| FHLB Member: | No |
| Low Income Designation: | No |
| Assets: | $7,568,055 |
| CEO/Manager: | Rachel J Jones |
| Chairperson: | Barbara E Sanderson |
| ASSETS: | $ Amount |
|---|---|
| Cash & Equivalents | 814,611 |
| TOTAL INVESTMENTS | 203,053 |
| Loans Held for Sale | 0 |
| Real Estate Loans | 38,178 |
| Unsecured Loans | 429,277 |
| Other Loans | 5,715,365 |
| TOTAL LOANS | 6,182,820 |
| (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -14,484 |
| Land And Building | 0 |
| Other Fixed Assets | 0 |
| NCUSIF Deposit | 68,038 |
| All Other Assets | 314,017 |
| TOTAL ASSETS | 7,568,055 |
| LIABILITIES & CAPITAL: | |
| Dividends Payable | 0 |
| Notes & Interest Payable | 0 |
| Accounts Payable & Other Liabilities | 19,540 |
| Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
| Share Drafts | 2,088,256 |
| Regular shares | 2,857,826 |
| All Other Shares & Deposits | 2,016,153 |
| TOTAL SHARES & DEPOSITS | 6,962,235 |
| TOTAL LIABILITIES | 6,981,775 |
| Regular Reserve | 331,699 |
| Other Reserves | 0 |
| Undivided Earnings | 254,581 |
| TOTAL EQUITY | 586,280 |
| TOTAL LIABILITIES, SHARES, & EQUITY | 7,568,055 |
| INCOME & EXPENSE | |
| Loan Income | 95,885 |
| Investment Income | 100 |
| Other Income | 9,547 |
| Total Employee Compensation & Benefits | 34,801 |
| NCUSIF Premiums Expense | 0 |
| Total Other Operating Expenses | 64,666 |
| Non-operating Income & (Expense) | 0 |
| NCUSIF Stabilization Income | N/A |
| Provision for Loan/Lease Losses or Total Credit Loss Expense | 146 |
| Cost of Funds | 7,620 |
| NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
| Net Income (Loss) | 8,102 |
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