Dec, 31, 2023 — AMOCO FEDERAL CREDIT UNION is a federal credit union headquartered in TEXAS CITY, TX with 11 branch locations and about $1.42 billion in total assets. Opened 87 years ago in 1937, AMOCO FEDERAL CREDIT UNION has about 105,753 members and employs 325 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.
Name: | AMOCO FEDERAL CREDIT UNION |
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Address: (Main Office) | 2300 Texas Ave TEXAS CITY, TX 77590 |
Phone: | (409) 948-8541 |
Fax: | (409) 948-3944 |
Website: | https://www.amocofcu.org |
Branches: | 11 branch locations |
Members: | 105,753 |
Credit Union Type: | Federal Credit Union |
Charter Number: | 2441 |
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Membership Type: | Multiple common bond - Primarily petroleum refining |
Corporate Credit Union: | No |
Year Opened: | 1937 |
Last Audited: | Sep 01, 2023 |
FHLB Member: | Yes |
Low Income Designation: | No |
Assets: | $1,423,552,612 |
CEO/Manager: | Shawn Bailey |
Chairperson: | J (Rusty) R Norman |
ASSETS: | $ Amount |
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Cash & Equivalents | 73,444,396 |
TOTAL INVESTMENTS | 0 |
Loans Held for Sale | 0 |
Real Estate Loans | 429,548,421 |
Unsecured Loans | 132,431,234 |
Other Loans | 612,775,406 |
TOTAL LOANS | 1,174,755,061 |
(Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -8,378,411 |
Land And Building | 23,947,445 |
Other Fixed Assets | 1,840,190 |
NCUSIF Deposit | 11,437,421 |
All Other Assets | 2,021,272 |
TOTAL ASSETS | 1,423,552,612 |
LIABILITIES & CAPITAL: | |
Dividends Payable | 0 |
Notes & Interest Payable | 64,000,000 |
Accounts Payable & Other Liabilities | 17,405,058 |
Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
Share Drafts | 214,734,327 |
Regular shares | 361,005,804 |
All Other Shares & Deposits | 658,738,930 |
TOTAL SHARES & DEPOSITS | 1,234,479,061 |
TOTAL LIABILITIES | 1,315,884,119 |
Regular Reserve | 0 |
Other Reserves | 8,965,653 |
Undivided Earnings | 98,702,840 |
TOTAL EQUITY | 107,668,493 |
TOTAL LIABILITIES, SHARES, & EQUITY | 1,423,552,612 |
INCOME & EXPENSE | |
Loan Income | 61,639,379 |
Investment Income | 5,926,986 |
Other Income | 6,635,491 |
Total Employee Compensation & Benefits | 31,539,583 |
NCUSIF Premiums Expense | 0 |
Total Other Operating Expenses | 27,560,100 |
Non-operating Income & (Expense) | -151,412 |
NCUSIF Stabilization Income | N/A |
Provision for Loan/Lease Losses or Total Credit Loss Expense | 8,270,000 |
Cost of Funds | 19,471,601 |
NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
Net Income (Loss) | 2,803,522 |
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