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OAK FARMS EMPLOYEES CREDIT UNION

Dec, 31, 2023 — OAK FARMS EMPLOYEES CREDIT UNION is a federally insured state chartered credit union headquartered in HOUSTON, TX with 1 branch location and about $4.07 million in total assets. Opened 71 years ago in 1953, OAK FARMS EMPLOYEES CREDIT UNION has about 809 members offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.


Name:OAK FARMS EMPLOYEES CREDIT UNION
Address:
(Main Office)
3430 Leeland St
HOUSTON, TX 77003
Phone:(713) 547-7118
Fax:(713) 223-1321
Website:https://www.ofecu.com
Branches:1 branch locations
Members:809
Credit Union Type:Federally Insured State Chartered Credit Union
Charter Number:67624
Membership Type:State chartered natural person
Corporate Credit Union:No
Year Opened:1953
Last Audited:Dec 01, 2022
FHLB Member:No
Low Income Designation:No
Assets:$4,069,734
CEO/Manager:Sophia A Salinas
Chairperson:Paul A Heidbreder

Call Report

  • Low Cost Wire Transfers

Financial Summary

» See also Statement of Financial Condition
ASSETS:$ Amount
Cash & Equivalents 479,486
TOTAL INVESTMENTS 0
Loans Held for Sale 0
 
 Real Estate Loans 0
 Unsecured Loans 726,127
 Other Loans 2,518,582
 TOTAL LOANS 3,244,709
 (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) -18,095
 Land And Building 0
 Other Fixed Assets 0
 NCUSIF Deposit 26,768
 All Other Assets 0
  TOTAL ASSETS 4,069,734
LIABILITIES & CAPITAL:  
 Dividends Payable 0
 Notes & Interest Payable 0
 Accounts Payable & Other Liabilities 61,949
 Uninsured Secondary Capital and Subordinated Debt Included in Net Worth 0
 Share Drafts 350,951
 Regular shares 2,206,718
 All Other Shares & Deposits 351,354
  TOTAL SHARES & DEPOSITS 2,909,023
  TOTAL LIABILITIES 2,970,972
 Regular Reserve 0
 Other Reserves 0
 Undivided Earnings 1,098,762
  TOTAL EQUITY 1,098,762
  TOTAL LIABILITIES, SHARES, & EQUITY 4,069,734
INCOME & EXPENSE  
 Loan Income 238,682
 Investment Income 18,727
 Other Income 40,265
 Total Employee Compensation & Benefits 130,048
 NCUSIF Premiums Expense 0
 Total Other Operating Expenses 112,345
 Non-operating Income & (Expense) 570
 NCUSIF Stabilization Income N/A
 Provision for Loan/Lease Losses or Total Credit Loss Expense 43,700
 Cost of Funds 22,030
 NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM N/A
Net Income (Loss) 12,857
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