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ROCKET FEDERAL CREDIT UNION

Mar, 31, 2021 — ROCKET FEDERAL CREDIT UNION is a federal credit union headquartered in MCGREGOR, TX with 1 branch location and about $30.23 million in total assets. Opened 67 years ago in 1954, ROCKET FEDERAL CREDIT UNION has about 3,152 members and employs 12 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.


Name:ROCKET FEDERAL CREDIT UNION
Address:
(Main Office)
PO BOX 235
MCGREGOR, TX 76657
Phone:(254) 840-2873
Fax:(254) 840-3412
Website:http://www.rocketfcu.com
Branches:1 branch locations
Members:3,152
Credit Union Type:Federal Credit Union
Charter Number:9799
Membership Type:Community - Rural District
Corporate Credit Union:No
Year Opened:1954
Last Audited:Sep 01, 2020
FHLB Member:No
Low Income Designation:No
Assets:$30,233,023
CEO/Manager:Terry L Sloan
Chairperson:Claudia Parrott

Call Report

  • Interest Only or Payment Option 1st Mortgage Loans
  • Overdraft Protection
  • Participation Loans
  • Pay Day Loans
  • Real Estate Loans
  • Risk Based Loans
  • Share Secured Credit Cards
  • Payday Alternative Loans (PAL Loans)
  • ATM/Debit Card Program
  • Check Cashing
  • Low Cost Wire Transfers

Financial Summary

» See also Statement of Financial Condition
ASSETS:$ Amount
Cash & Equivalents 7,271,684
TOTAL INVESTMENTS 11,841
Loans Held for Sale 0
 
 Real Estate Loans 6,122,898
 Unsecured Loans 893,440
 Other Loans 13,896,254
 TOTAL LOANS 20,912,592
 (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) -66,783
 Land And Building 1,616,566
 Other Fixed Assets 234,017
 NCUSIF Deposit 234,457
 All Other Assets 18,649
  TOTAL ASSETS 30,233,023
LIABILITIES & CAPITAL:  
 Dividends Payable 0
 Notes & Interest Payable 0
 Accounts Payable & Other Liabilities 449,861
 Uninsured Secondary Capital and Subordinated Debt Included in Net Worth 300,000
 Share Drafts 3,964,983
 Regular shares 16,022,128
 All Other Shares & Deposits 7,662,679
  TOTAL SHARES & DEPOSITS 27,649,790
  TOTAL LIABILITIES 28,399,651
 Regular Reserve 294,146
 Other Reserves 0
 Undivided Earnings 1,539,226
  TOTAL EQUITY 1,833,372
  TOTAL LIABILITIES, SHARES, & EQUITY 30,233,023
INCOME & EXPENSE  
 Loan Income 283,299
 Investment Income 139
 Other Income 65,402
 Total Employee Compensation & Benefits 105,157
 NCUSIF Premiums Expense 0
 Total Other Operating Expenses 136,207
 Non-operating Income & (Expense) 0
 NCUSIF Stabilization Income N/A
 Provision for Loan/Lease Losses or Total Credit Loss Expense 45,000
 Cost of Funds 49,727
 NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM N/A
Net Income (Loss) 27,861
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