Dec, 31, 2023 — ALLIANCE CREDIT UNION is a non-federally insured state credit union headquartered in LUBBOCK, TX with 8 branch locations and about $568.72 million in total assets. Opened 84 years ago in 1940, ALLIANCE CREDIT UNION has about 46,883 members and employs 177 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.
| Name: | ALLIANCE CREDIT UNION |
|---|---|
| Address: (Main Office) | 6219 Spur 327 LUBBOCK, TX 79424 |
| Phone: | (806) 798-5554 |
| Fax: | |
| Website: | https://www.alliancecutx.com |
| Branches: | 8 branch locations |
| Members: | 46,883 |
| Credit Union Type: | Non-Federally Insured State Credit Union |
| Charter Number: | 97103 |
|---|---|
| Membership Type: | State chartered natural person |
| Corporate Credit Union: | No |
| Year Opened: | 1940 |
| Last Audited: | Dec 01, 2022 |
| FHLB Member: | Yes |
| Low Income Designation: | No |
| Assets: | $568,715,107 |
| CEO/Manager: | Matt Grannan |
| Chairperson: | Patsy Wilson |
| ASSETS: | $ Amount |
|---|---|
| Cash & Equivalents | 19,575,610 |
| TOTAL INVESTMENTS | 0 |
| Loans Held for Sale | 4,152,399 |
| Real Estate Loans | 223,873,581 |
| Unsecured Loans | 14,672,599 |
| Other Loans | 261,641,476 |
| TOTAL LOANS | 500,187,656 |
| (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -1,009,000 |
| Land And Building | 25,357,058 |
| Other Fixed Assets | 4,126,746 |
| NCUSIF Deposit | 0 |
| All Other Assets | 0 |
| TOTAL ASSETS | 568,715,107 |
| LIABILITIES & CAPITAL: | |
| Dividends Payable | 0 |
| Notes & Interest Payable | 35,000,000 |
| Accounts Payable & Other Liabilities | 2,639,437 |
| Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
| Share Drafts | 79,336,978 |
| Regular shares | 107,908,936 |
| All Other Shares & Deposits | 278,398,493 |
| TOTAL SHARES & DEPOSITS | 465,644,407 |
| TOTAL LIABILITIES | 503,283,844 |
| Regular Reserve | 0 |
| Other Reserves | -969,728 |
| Undivided Earnings | 66,400,991 |
| TOTAL EQUITY | 65,431,263 |
| TOTAL LIABILITIES, SHARES, & EQUITY | 568,715,107 |
| INCOME & EXPENSE | |
| Loan Income | 29,055,733 |
| Investment Income | 588,651 |
| Other Income | 6,572,520 |
| Total Employee Compensation & Benefits | 14,073,035 |
| NCUSIF Premiums Expense | 0 |
| Total Other Operating Expenses | 10,208,961 |
| Non-operating Income & (Expense) | 44,833 |
| NCUSIF Stabilization Income | N/A |
| Provision for Loan/Lease Losses or Total Credit Loss Expense | 1,338,055 |
| Cost of Funds | 9,148,604 |
| NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
| Net Income (Loss) | 6,028,151 |
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