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GALVESTON GOVERNMENT EMPLOYEES CREDIT UNION (GGECU)

Dec, 31, 2021 — GALVESTON GOVERNMENT EMPLOYEES CREDIT UNION (GGECU) is a federally insured state chartered credit union headquartered in LA MARQUE, TX with 1 branch location and about $7.68 million in total assets. Opened 89 years ago in 1933, GALVESTON GOVERNMENT EMPLOYEES CREDIT UNION (GGECU) has about 2,130 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)
14041 Delaney St
LA MARQUE, TX 77568
Phone:(409) 908-9834
Fax:(409) 908-9448
Website:www.ggecu.com
Branches:1 branch locations
Members:2,130
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:$7,679,954
CEO/Manager:Rachel J Jones
Chairperson:Barbara E Sanderson

Call Report

  • Low Cost Wire Transfers

Financial Summary

» See also Statement of Financial Condition
ASSETS:$ Amount
Cash & Equivalents 838,644
TOTAL INVESTMENTS 1,245,053
Loans Held for Sale 0
 
 Real Estate Loans 7,892
 Unsecured Loans 337,035
 Other Loans 5,170,410
 TOTAL LOANS 5,515,337
 (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) -17,529
 Land And Building 0
 Other Fixed Assets 0
 NCUSIF Deposit 69,885
 All Other Assets 28,564
  TOTAL ASSETS 7,679,954
LIABILITIES & CAPITAL:  
 Dividends Payable 0
 Notes & Interest Payable 0
 Accounts Payable & Other Liabilities 12,163
 Uninsured Secondary Capital and Subordinated Debt Included in Net Worth 0
 Share Drafts 2,136,475
 Regular shares 2,978,093
 All Other Shares & Deposits 1,911,053
  TOTAL SHARES & DEPOSITS 7,025,621
  TOTAL LIABILITIES 7,037,784
 Regular Reserve 331,699
 Other Reserves 0
 Undivided Earnings 310,471
  TOTAL EQUITY 642,170
  TOTAL LIABILITIES, SHARES, & EQUITY 7,679,954
INCOME & EXPENSE  
 Loan Income 359,140
 Investment Income 886
 Other Income 43,663
 Total Employee Compensation & Benefits 156,538
 NCUSIF Premiums Expense 0
 Total Other Operating Expenses 252,328
 Non-operating Income & (Expense) 0
 NCUSIF Stabilization Income N/A
 Provision for Loan/Lease Losses or Total Credit Loss Expense 262
 Cost of Funds 27,113
 NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM N/A
Net Income (Loss) 63,993
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