Jun, 30, 2024 — OAK FARMS EMPLOYEES CREDIT UNION is a federally insured state chartered credit union headquartered in HOUSTON, TX with 1 branch location and about $3.80 million in total assets. Opened 72 years ago in 1953, OAK FARMS EMPLOYEES CREDIT UNION has about 795 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: | 795 |
| 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, 2021 |
| FHLB Member: | No |
| Low Income Designation: | No |
| Assets: | $3,799,475 |
| CEO/Manager: | Sophia A Salinas |
| Chairperson: | Paul A Heidbreder |
| ASSETS: | $ Amount |
|---|---|
| Cash & Equivalents | 264,399 |
| TOTAL INVESTMENTS | 0 |
| Loans Held for Sale | 0 |
| Real Estate Loans | 0 |
| Unsecured Loans | 682,999 |
| Other Loans | 2,360,634 |
| TOTAL LOANS | 3,043,633 |
| (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -11,790 |
| Land And Building | 0 |
| Other Fixed Assets | 0 |
| NCUSIF Deposit | 28,529 |
| All Other Assets | 0 |
| TOTAL ASSETS | 3,799,475 |
| LIABILITIES & CAPITAL: | |
| Dividends Payable | 0 |
| Notes & Interest Payable | 0 |
| Accounts Payable & Other Liabilities | 10,322 |
| Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
| Share Drafts | 269,077 |
| Regular shares | 2,118,802 |
| All Other Shares & Deposits | 323,038 |
| TOTAL SHARES & DEPOSITS | 2,710,917 |
| TOTAL LIABILITIES | 2,721,239 |
| Regular Reserve | 0 |
| Other Reserves | 0 |
| Undivided Earnings | 1,078,236 |
| TOTAL EQUITY | 1,078,236 |
| TOTAL LIABILITIES, SHARES, & EQUITY | 3,799,475 |
| INCOME & EXPENSE | |
| Loan Income | 159,710 |
| Investment Income | 2,890 |
| Other Income | 26,643 |
| Total Employee Compensation & Benefits | 103,414 |
| NCUSIF Premiums Expense | 0 |
| Total Other Operating Expenses | 79,645 |
| Non-operating Income & (Expense) | 6,102 |
| NCUSIF Stabilization Income | N/A |
| Provision for Loan/Lease Losses or Total Credit Loss Expense | 9,129 |
| Cost of Funds | 2,192 |
| NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
| Net Income (Loss) | 19,183 |
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