Dec, 31, 2023 — GAS AND ELECTRIC CREDIT UNION is a federally insured state chartered credit union headquartered in ROCK ISLAND, IL with 2 branch locations and about $116.47 million in total assets. Opened 89 years ago in 1935, GAS AND ELECTRIC CREDIT UNION has about 5,701 members and employs 17 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 AND ELECTRIC CREDIT UNION |
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Address: (Main Office) | 2300 4TH AVE ROCK ISLAND, IL 61201 |
Phone: | (309) 793-3610 |
Fax: | (309) 788-6548 |
Website: | https://www.gaselectriccu.com |
Branches: | 2 branch locations |
Members: | 5,701 |
Credit Union Type: | Federally Insured State Chartered Credit Union |
Charter Number: | 65003 |
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Membership Type: | State chartered natural person |
Corporate Credit Union: | No |
Year Opened: | 1935 |
Last Audited: | Oct 01, 2023 |
FHLB Member: | Yes |
Low Income Designation: | No |
Assets: | $116,465,000 |
CEO/Manager: | DARYL E EMPEN |
Chairperson: | CORBYN J BECK |
ASSETS: | $ Amount |
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Cash & Equivalents | 6,144,852 |
TOTAL INVESTMENTS | 0 |
Loans Held for Sale | 0 |
Real Estate Loans | 45,416,884 |
Unsecured Loans | 8,905,680 |
Other Loans | 23,699,635 |
TOTAL LOANS | 78,022,199 |
(Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -796,024 |
Land And Building | 1,880,636 |
Other Fixed Assets | 126,401 |
NCUSIF Deposit | 989,586 |
All Other Assets | 15,500 |
TOTAL ASSETS | 116,465,000 |
LIABILITIES & CAPITAL: | |
Dividends Payable | 117 |
Notes & Interest Payable | 0 |
Accounts Payable & Other Liabilities | 1,333,681 |
Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
Share Drafts | 25,056,137 |
Regular shares | 29,452,667 |
All Other Shares & Deposits | 51,726,278 |
TOTAL SHARES & DEPOSITS | 106,235,082 |
TOTAL LIABILITIES | 107,568,880 |
Regular Reserve | 0 |
Other Reserves | -2,333,424 |
Undivided Earnings | 11,229,544 |
TOTAL EQUITY | 8,896,120 |
TOTAL LIABILITIES, SHARES, & EQUITY | 116,465,000 |
INCOME & EXPENSE | |
Loan Income | 3,761,974 |
Investment Income | 735,765 |
Other Income | 374,803 |
Total Employee Compensation & Benefits | 1,513,643 |
NCUSIF Premiums Expense | 0 |
Total Other Operating Expenses | 1,834,486 |
Non-operating Income & (Expense) | 0 |
NCUSIF Stabilization Income | N/A |
Provision for Loan/Lease Losses or Total Credit Loss Expense | 155,808 |
Cost of Funds | 1,475,420 |
NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
Net Income (Loss) | 645,309 |
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