Dec, 31, 2023 — FINANCIAL SECURITY CREDIT UNION is a federally insured state chartered credit union headquartered in CARLSBAD, NM with 2 branch locations and about $59.81 million in total assets. Opened 70 years ago in 1954, FINANCIAL SECURITY CREDIT UNION has about 5,166 members and employs 15 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.
Name: | FINANCIAL SECURITY CREDIT UNION |
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Address: (Main Office) | 1105 W Pierce St CARLSBAD, NM 88220-4014 |
Phone: | (575) 887-6030 |
Fax: | (575) 885-5054 |
Website: | https://www.finseccu.com |
Branches: | 2 branch locations |
Members: | 5,166 |
Credit Union Type: | Federally Insured State Chartered Credit Union |
Charter Number: | 62452 |
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Membership Type: | State chartered natural person |
Corporate Credit Union: | No |
Year Opened: | 1954 |
Last Audited: | Dec 01, 2022 |
FHLB Member: | No |
Low Income Designation: | No |
Assets: | $59,810,009 |
CEO/Manager: | Judy Carrasco |
Chairperson: | Jason Crockett |
ASSETS: | $ Amount |
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Cash & Equivalents | 7,568,326 |
TOTAL INVESTMENTS | 0 |
Loans Held for Sale | 0 |
Real Estate Loans | 0 |
Unsecured Loans | 4,725,887 |
Other Loans | 36,752,740 |
TOTAL LOANS | 41,478,626 |
(Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -272,458 |
Land And Building | 2,915,903 |
Other Fixed Assets | 100,761 |
NCUSIF Deposit | 497,596 |
All Other Assets | 0 |
TOTAL ASSETS | 59,810,009 |
LIABILITIES & CAPITAL: | |
Dividends Payable | 0 |
Notes & Interest Payable | 0 |
Accounts Payable & Other Liabilities | 476,113 |
Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
Share Drafts | 8,954,684 |
Regular shares | 28,685,482 |
All Other Shares & Deposits | 13,322,117 |
TOTAL SHARES & DEPOSITS | 50,962,283 |
TOTAL LIABILITIES | 51,438,396 |
Regular Reserve | 0 |
Other Reserves | 406,968 |
Undivided Earnings | 7,964,645 |
TOTAL EQUITY | 8,371,613 |
TOTAL LIABILITIES, SHARES, & EQUITY | 59,810,009 |
INCOME & EXPENSE | |
Loan Income | 1,946,215 |
Investment Income | 563,732 |
Other Income | 1,033,748 |
Total Employee Compensation & Benefits | 1,206,343 |
NCUSIF Premiums Expense | 0 |
Total Other Operating Expenses | 1,441,686 |
Non-operating Income & (Expense) | -3,698 |
NCUSIF Stabilization Income | N/A |
Provision for Loan/Lease Losses or Total Credit Loss Expense | 20,000 |
Cost of Funds | 173,144 |
NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
Net Income (Loss) | 947,529 |
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