Sep, 30, 2025 — FIRST BASIN CREDIT UNION is a federally insured state chartered credit union headquartered in ODESSA, TX with 7 branch locations and about $352.78 million in total assets. Opened 61 years ago in 1965, FIRST BASIN CREDIT UNION has about 29,489 members and employs 96 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.
| Name: | FIRST BASIN CREDIT UNION |
|---|---|
| Address: (Main Office) | 7100 E Highway 191 ODESSA, TX 79765 |
| Phone: | (432) 333-5600 |
| Fax: | |
| Website: | https://www.firstbasin.com |
| Branches: | 7 branch locations |
| Members: | 29,489 |
| Credit Union Type: | Federally Insured State Chartered Credit Union |
| Charter Number: | 67609 |
|---|---|
| Membership Type: | State chartered natural person |
| Corporate Credit Union: | No |
| Year Opened: | 1965 |
| Last Audited: | Dec 01, 2024 |
| FHLB Member: | Yes |
| Low Income Designation: | No |
| Assets: | $352,776,708 |
| CEO/Manager: | Shem E Culpepper |
| Chairperson: | Sam Gonzalez |
| ASSETS: | $ Amount |
|---|---|
| Cash & Equivalents | 22,704,679 |
| TOTAL INVESTMENTS | 0 |
| Loans Held for Sale | 0 |
| Real Estate Loans | 78,805,395 |
| Unsecured Loans | 6,339,926 |
| Other Loans | 91,005,867 |
| TOTAL LOANS | 176,151,188 |
| (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -1,395,616 |
| Land And Building | 25,611,049 |
| Other Fixed Assets | 1,153,206 |
| NCUSIF (National Credit Union Share Insurance Fund) Deposit | 2,596,845 |
| All Other Assets | 4,128,010 |
| TOTAL ASSETS | 352,776,708 |
| LIABILITIES & CAPITAL: | |
| Dividends Payable | 0 |
| Notes & Interest Payable | 32,500,000 |
| Accounts Payable & Other Liabilities | 6,726,821 |
| Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
| Share Drafts | 88,287,005 |
| Regular shares | 111,211,873 |
| All Other Shares & Deposits | 79,561,166 |
| TOTAL SHARES & DEPOSITS | 279,060,044 |
| TOTAL LIABILITIES | 318,286,865 |
| Regular Reserve | 0 |
| Other Reserves | -927,756 |
| Undivided Earnings | 35,417,599 |
| TOTAL EQUITY | 34,489,843 |
| TOTAL LIABILITIES, SHARES, & EQUITY | 352,776,708 |
| INCOME & EXPENSE | |
| Loan Income | 8,105,726 |
| Investment Income | 2,451,255 |
| Other Income | 2,185,638 |
| Total Employee Compensation & Benefits | 4,179,688 |
| NCUSIF (National Credit Union Share Insurance Fund) Premiums Expense | 0 |
| Total Other Operating Expenses | 6,528,065 |
| Non-operating Income & (Expense) | 83,008 |
| NCUSIF Stabilization Income | N/A |
| Provision for Loan/Lease Losses or Total Credit Loss Expense | 719,978 |
| Cost of Funds | 1,630,776 |
| NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
| Net Income (Loss) | 3,072,955 |
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