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 |
| 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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