Dec, 31, 2023 — GAS & ELECTRIC EMPLOYEES CREDIT UNION is a federally insured state chartered credit union headquartered in MASON CITY, IA with 1 branch location and about $4.57 million in total assets. Opened 92 years ago in 1932, GAS & ELECTRIC EMPLOYEES CREDIT UNION has about 366 members and employs 3 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.
Name: | GAS & ELECTRIC EMPLOYEES CREDIT UNION |
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Address: (Main Office) | 1602 S Monroe Ave MASON CITY, IA 50401 |
Phone: | (641) 903-1714 |
Fax: | |
Website: | n/a |
Branches: | 1 branch locations |
Members: | 366 |
Credit Union Type: | Federally Insured State Chartered Credit Union |
Charter Number: | 65040 |
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Membership Type: | State chartered natural person |
Corporate Credit Union: | No |
Year Opened: | 1932 |
Last Audited: | Nov 01, 2023 |
FHLB Member: | No |
Low Income Designation: | No |
Assets: | $4,567,202 |
CEO/Manager: | Angela Sorenson |
Chairperson: | Jordan Shannon |
ASSETS: | $ Amount |
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Cash & Equivalents | 253,721 |
TOTAL INVESTMENTS | 0 |
Loans Held for Sale | 0 |
Real Estate Loans | 0 |
Unsecured Loans | 12,138 |
Other Loans | 2,884,936 |
TOTAL LOANS | 2,897,074 |
(Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -33,939 |
Land And Building | 0 |
Other Fixed Assets | 0 |
NCUSIF Deposit | 30,162 |
All Other Assets | 0 |
TOTAL ASSETS | 4,567,202 |
LIABILITIES & CAPITAL: | |
Dividends Payable | 0 |
Notes & Interest Payable | 0 |
Accounts Payable & Other Liabilities | 5,992 |
Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
Share Drafts | 0 |
Regular shares | 2,180,830 |
All Other Shares & Deposits | 402,558 |
TOTAL SHARES & DEPOSITS | 2,583,388 |
TOTAL LIABILITIES | 2,589,380 |
Regular Reserve | 0 |
Other Reserves | 165,532 |
Undivided Earnings | 1,812,290 |
TOTAL EQUITY | 1,977,822 |
TOTAL LIABILITIES, SHARES, & EQUITY | 4,567,202 |
INCOME & EXPENSE | |
Loan Income | 136,532 |
Investment Income | 33,844 |
Other Income | 632 |
Total Employee Compensation & Benefits | 63,294 |
NCUSIF Premiums Expense | 0 |
Total Other Operating Expenses | 38,475 |
Non-operating Income & (Expense) | 0 |
NCUSIF Stabilization Income | N/A |
Provision for Loan/Lease Losses or Total Credit Loss Expense | 0 |
Cost of Funds | 21,160 |
NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
Net Income (Loss) | 48,618 |
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