Dec, 31, 2023 — REED CREDIT UNION is a federally insured state chartered credit union headquartered in HOUSTON, TX with 1 branch location and about $15.67 million in total assets. Opened 89 years ago in 1935, REED CREDIT UNION has about 1,133 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: | REED CREDIT UNION |
|---|---|
| Address: (Main Office) | 10200 EAST FWY STE 125 HOUSTON, TX 77029-1994 |
| Phone: | (713) 673-3333 |
| Fax: | (713) 673-2420 |
| Website: | https://reedcreditunion.com |
| Branches: | 1 branch locations |
| Members: | 1,133 |
| Credit Union Type: | Federally Insured State Chartered Credit Union |
| Charter Number: | 67486 |
|---|---|
| Membership Type: | State chartered natural person |
| Corporate Credit Union: | No |
| Year Opened: | 1935 |
| Last Audited: | Sep 01, 2023 |
| FHLB Member: | No |
| Low Income Designation: | No |
| Assets: | $15,666,982 |
| CEO/Manager: | CARLA CLAKLEY |
| Chairperson: | ROGER RATCLIFF |
| ASSETS: | $ Amount |
|---|---|
| Cash & Equivalents | 469,729 |
| TOTAL INVESTMENTS | 0 |
| Loans Held for Sale | 0 |
| Real Estate Loans | 0 |
| Unsecured Loans | 6,202 |
| Other Loans | 3,441,567 |
| TOTAL LOANS | 3,447,769 |
| (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -20,189 |
| Land And Building | 0 |
| Other Fixed Assets | 9,551 |
| NCUSIF Deposit | 131,036 |
| All Other Assets | 0 |
| TOTAL ASSETS | 15,666,982 |
| LIABILITIES & CAPITAL: | |
| Dividends Payable | 13,990 |
| Notes & Interest Payable | 0 |
| Accounts Payable & Other Liabilities | 15,461 |
| Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
| Share Drafts | 670,746 |
| Regular shares | 7,355,490 |
| All Other Shares & Deposits | 5,056,715 |
| TOTAL SHARES & DEPOSITS | 13,082,951 |
| TOTAL LIABILITIES | 13,112,402 |
| Regular Reserve | 0 |
| Other Reserves | 0 |
| Undivided Earnings | 2,554,580 |
| TOTAL EQUITY | 2,554,580 |
| TOTAL LIABILITIES, SHARES, & EQUITY | 15,666,982 |
| INCOME & EXPENSE | |
| Loan Income | 170,054 |
| Investment Income | 400,072 |
| Other Income | 24,786 |
| Total Employee Compensation & Benefits | 231,169 |
| NCUSIF Premiums Expense | 0 |
| Total Other Operating Expenses | 190,760 |
| Non-operating Income & (Expense) | 0 |
| NCUSIF Stabilization Income | N/A |
| Provision for Loan/Lease Losses or Total Credit Loss Expense | -70 |
| Cost of Funds | 119,178 |
| NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
| Net Income (Loss) | 56,848 |
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