Dec, 31, 2023 — CHEMCEL FEDERAL CREDIT UNION is a federal credit union headquartered in BISHOP, TX with 6 branch locations and about $150.91 million in total assets. Opened 73 years ago in 1951, CHEMCEL FEDERAL CREDIT UNION has about 9,431 members and employs 63 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.
Name: | CHEMCEL FEDERAL CREDIT UNION |
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Address: (Main Office) | 5740 County Road 4 BISHOP, TX 78343 |
Phone: | (361) 584-6246 |
Fax: | (361) 584-6155 |
Website: | https://www.chemcel.org |
Branches: | 6 branch locations |
Members: | 9,431 |
Credit Union Type: | Federal Credit Union |
Charter Number: | 7129 |
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Membership Type: | Multiple common bond - Primarily chemical |
Corporate Credit Union: | No |
Year Opened: | 1951 |
Last Audited: | Mar 01, 2023 |
FHLB Member: | No |
Low Income Designation: | No |
Assets: | $150,909,468 |
CEO/Manager: | Michael Engel |
Chairperson: | Ken May |
ASSETS: | $ Amount |
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Cash & Equivalents | 15,454,950 |
TOTAL INVESTMENTS | 0 |
Loans Held for Sale | 0 |
Real Estate Loans | 5,125,752 |
Unsecured Loans | 12,620,885 |
Other Loans | 82,697,858 |
TOTAL LOANS | 100,444,495 |
(Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -1,085,042 |
Land And Building | 6,408,100 |
Other Fixed Assets | 507,591 |
NCUSIF Deposit | 1,294,700 |
All Other Assets | 146,905 |
TOTAL ASSETS | 150,909,468 |
LIABILITIES & CAPITAL: | |
Dividends Payable | 96,381 |
Notes & Interest Payable | 0 |
Accounts Payable & Other Liabilities | 1,869,160 |
Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
Share Drafts | 30,860,694 |
Regular shares | 37,784,479 |
All Other Shares & Deposits | 61,565,251 |
TOTAL SHARES & DEPOSITS | 130,210,424 |
TOTAL LIABILITIES | 132,175,965 |
Regular Reserve | 0 |
Other Reserves | 0 |
Undivided Earnings | 18,733,503 |
TOTAL EQUITY | 18,733,503 |
TOTAL LIABILITIES, SHARES, & EQUITY | 150,909,468 |
INCOME & EXPENSE | |
Loan Income | 5,067,721 |
Investment Income | 987,134 |
Other Income | 1,236,100 |
Total Employee Compensation & Benefits | 2,077,807 |
NCUSIF Premiums Expense | 0 |
Total Other Operating Expenses | 2,633,785 |
Non-operating Income & (Expense) | 140,823 |
NCUSIF Stabilization Income | N/A |
Provision for Loan/Lease Losses or Total Credit Loss Expense | 564,645 |
Cost of Funds | 1,704,942 |
NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
Net Income (Loss) | 1,294,052 |
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» See also Statement of Financial Condition