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GALVESTON GOVERNMENT EMPLOYEES CREDIT UNION (GGECU)

Dec, 31, 2022 — 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 $7.57 million in total assets. Opened 90 years ago in 1933, GALVESTON GOVERNMENT EMPLOYEES CREDIT UNION (GGECU) has about 1,981 members 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:
Website:www.ggecu.com
Branches:1 branch locations
Members:1,981
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, 2021
FHLB Member:No
Low Income Designation:No
Assets:$7,565,761
CEO/Manager:Rachel J Jones
Chairperson:Barbara E Sanderson

Call Report

Financial Summary

» See also Statement of Financial Condition
ASSETS:$ Amount
Cash & Equivalents 737,513
TOTAL INVESTMENTS 0
Loans Held for Sale 0
 
 Real Estate Loans 4,619
 Unsecured Loans 278,353
 Other Loans 5,268,802
 TOTAL LOANS 5,551,774
 (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) -22,626
 Land And Building 0
 Other Fixed Assets 0
 NCUSIF Deposit 67,483
 All Other Assets 0
  TOTAL ASSETS 7,565,761
LIABILITIES & CAPITAL:  
 Dividends Payable 0
 Notes & Interest Payable 0
 Accounts Payable & Other Liabilities 25,280
 Uninsured Secondary Capital and Subordinated Debt Included in Net Worth 0
 Share Drafts 2,195,229
 Regular shares 3,111,688
 All Other Shares & Deposits 1,543,319
  TOTAL SHARES & DEPOSITS 6,850,236
  TOTAL LIABILITIES 6,875,516
 Regular Reserve 0
 Other Reserves 0
 Undivided Earnings 690,245
  TOTAL EQUITY 690,245
  TOTAL LIABILITIES, SHARES, & EQUITY 7,565,761
INCOME & EXPENSE  
 Loan Income 245,357
 Investment Income 7,669
 Other Income 29,239
 Total Employee Compensation & Benefits 107,139
 NCUSIF Premiums Expense 0
 Total Other Operating Expenses 193,583
 Non-operating Income & (Expense) 0
 NCUSIF Stabilization Income N/A
 Provision for Loan/Lease Losses or Total Credit Loss Expense -16,794
 Cost of Funds 13,811
 NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM N/A
Net Income (Loss) 48,075
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