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GENERAL ELECTRIC CREDIT UNION

Dec, 31, 2023 — GENERAL ELECTRIC CREDIT UNION is a federally insured state chartered credit union headquartered in CINCINNATI, OH with 11 branch locations and about $5.11 billion in total assets. Opened 70 years ago in 1954, GENERAL ELECTRIC CREDIT UNION has about 279,569 members and employs 547 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.


Name:GENERAL ELECTRIC CREDIT UNION
Address:
(Main Office)
10485 Reading Rd
CINCINNATI, OH 45241-2523
Phone:(513) 243-4328
Fax:(513) 243-9206
Website:https://www.gecreditunion.org
Branches:11 branch locations
Members:279,569
Credit Union Type:Federally Insured State Chartered Credit Union
Charter Number:68574
Membership Type:State chartered natural person
Corporate Credit Union:No
Year Opened:1954
Last Audited:Dec 01, 2022
FHLB Member:Yes
Low Income Designation:No
Assets:$5,108,668,436
CEO/Manager:Timothy D Ballinger
Chairperson:Mary C Vessells

Call Report

  • International Remittances
  • Low Cost Wire Transfers

Financial Summary

» See also Statement of Financial Condition
ASSETS:$ Amount
Cash & Equivalents 311,444,289
TOTAL INVESTMENTS 0
Loans Held for Sale 266,643,223
 
 Real Estate Loans 1,921,347,441
 Unsecured Loans 101,157,002
 Other Loans 1,979,585,296
 TOTAL LOANS 4,002,158,468
 (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) -34,733,273
 Land And Building 47,891,116
 Other Fixed Assets 5,312,571
 NCUSIF Deposit 34,763,325
 All Other Assets 3,837,181
  TOTAL ASSETS 5,108,668,436
LIABILITIES & CAPITAL:  
 Dividends Payable 41
 Notes & Interest Payable 785,541,092
 Accounts Payable & Other Liabilities 30,075,125
 Uninsured Secondary Capital and Subordinated Debt Included in Net Worth 0
 Share Drafts 319,125,696
 Regular shares 225,084,824
 All Other Shares & Deposits 3,438,313,529
  TOTAL SHARES & DEPOSITS 3,982,524,049
  TOTAL LIABILITIES 4,798,617,831
 Regular Reserve 0
 Other Reserves -53,459,179
 Undivided Earnings 363,509,784
  TOTAL EQUITY 310,050,605
  TOTAL LIABILITIES, SHARES, & EQUITY 5,108,668,436
INCOME & EXPENSE  
 Loan Income 188,351,009
 Investment Income 20,887,859
 Other Income 17,780,202
 Total Employee Compensation & Benefits 44,734,499
 NCUSIF Premiums Expense 0
 Total Other Operating Expenses 35,675,263
 Non-operating Income & (Expense) 928,614
 NCUSIF Stabilization Income N/A
 Provision for Loan/Lease Losses or Total Credit Loss Expense 22,384,187
 Cost of Funds 143,978,778
 NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM N/A
Net Income (Loss) -5,075,483
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