Dec, 31, 2023 — FIRST BASIN CREDIT UNION is a federally insured state chartered credit union headquartered in ODESSA, TX with 7 branch locations and about $316.33 million in total assets. Opened 59 years ago in 1965, FIRST BASIN CREDIT UNION has about 29,389 members and employs 102 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 |
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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: | 29,389 |
Credit Union Type: | Federally Insured State Chartered Credit Union |
Charter Number: | 67609 |
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Membership Type: | State chartered natural person |
Corporate Credit Union: | No |
Year Opened: | 1965 |
Last Audited: | Dec 01, 2022 |
FHLB Member: | Yes |
Low Income Designation: | No |
Assets: | $316,330,744 |
CEO/Manager: | Shem E Culpepper |
Chairperson: | Sam Gonzalez |
ASSETS: | $ Amount |
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Cash & Equivalents | 12,478,347 |
TOTAL INVESTMENTS | 0 |
Loans Held for Sale | 0 |
Real Estate Loans | 70,875,763 |
Unsecured Loans | 6,799,320 |
Other Loans | 142,832,899 |
TOTAL LOANS | 220,832,343 |
(Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -1,804,683 |
Land And Building | 23,368,089 |
Other Fixed Assets | 1,607,988 |
NCUSIF Deposit | 2,710,102 |
All Other Assets | 312,286 |
TOTAL ASSETS | 316,330,744 |
LIABILITIES & CAPITAL: | |
Dividends Payable | 0 |
Notes & Interest Payable | 6,700,000 |
Accounts Payable & Other Liabilities | 9,520,940 |
Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
Share Drafts | 81,479,417 |
Regular shares | 109,289,834 |
All Other Shares & Deposits | 82,825,661 |
TOTAL SHARES & DEPOSITS | 273,594,912 |
TOTAL LIABILITIES | 289,815,852 |
Regular Reserve | 0 |
Other Reserves | -4,489,050 |
Undivided Earnings | 31,003,942 |
TOTAL EQUITY | 26,514,892 |
TOTAL LIABILITIES, SHARES, & EQUITY | 316,330,744 |
INCOME & EXPENSE | |
Loan Income | 11,661,124 |
Investment Income | 1,101,263 |
Other Income | 2,746,470 |
Total Employee Compensation & Benefits | 7,323,725 |
NCUSIF Premiums Expense | 0 |
Total Other Operating Expenses | 8,438,810 |
Non-operating Income & (Expense) | 69,879 |
NCUSIF Stabilization Income | N/A |
Provision for Loan/Lease Losses or Total Credit Loss Expense | 1,625,117 |
Cost of Funds | 1,533,380 |
NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
Net Income (Loss) | 1,016,059 |
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