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COSDEN FEDERAL CREDIT UNION

Dec, 31, 2023 — COSDEN FEDERAL CREDIT UNION is a federal credit union headquartered in BIG SPRING, TX with 1 branch location and about $60.19 million in total assets. Opened 88 years ago in 1936, COSDEN FEDERAL CREDIT UNION has about 4,330 members and employs 16 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.


Name:COSDEN FEDERAL CREDIT UNION
Address:
(Main Office)
400 E MARCY DR
BIG SPRING, TX 79720-5714
Phone:(432) 264-2600
Fax:(432) 264-2631
Website:https://www.cosden.org
Branches:1 branch locations
Members:4,330
Credit Union Type:Federal Credit Union
Charter Number:1750
Membership Type:Community credit unions, urban or rural, other than those designated 'low income'
Corporate Credit Union:No
Year Opened:1936
Last Audited:Dec 01, 2023
FHLB Member:No
Low Income Designation:No
Assets:$60,193,175
CEO/Manager:LAURIE M LIGHT
Chairperson:HARDY WILKERSON

Call Report

  • Payday Alternative Loans (PAL Loans)
  • Low Cost Wire Transfers

Financial Summary

» See also Statement of Financial Condition
ASSETS:$ Amount
Cash & Equivalents 4,670,961
TOTAL INVESTMENTS 0
Loans Held for Sale 0
 
 Real Estate Loans 8,619
 Unsecured Loans 1,314,263
 Other Loans 22,253,229
 TOTAL LOANS 23,591,725
 (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) -330,831
 Land And Building 2,097,750
 Other Fixed Assets 84,998
 NCUSIF Deposit 571,673
 All Other Assets 0
  TOTAL ASSETS 60,193,175
LIABILITIES & CAPITAL:  
 Dividends Payable 313
 Notes & Interest Payable 0
 Accounts Payable & Other Liabilities 639,534
 Uninsured Secondary Capital and Subordinated Debt Included in Net Worth 0
 Share Drafts 9,489,854
 Regular shares 20,141,569
 All Other Shares & Deposits 23,709,073
  TOTAL SHARES & DEPOSITS 53,340,496
  TOTAL LIABILITIES 53,980,343
 Regular Reserve 0
 Other Reserves 693,716
 Undivided Earnings 5,519,116
  TOTAL EQUITY 6,212,832
  TOTAL LIABILITIES, SHARES, & EQUITY 60,193,175
INCOME & EXPENSE  
 Loan Income 1,278,376
 Investment Income 1,051,726
 Other Income 530,631
 Total Employee Compensation & Benefits 870,810
 NCUSIF Premiums Expense 0
 Total Other Operating Expenses 1,172,175
 Non-operating Income & (Expense) 0
 NCUSIF Stabilization Income N/A
 Provision for Loan/Lease Losses or Total Credit Loss Expense 150,358
 Cost of Funds 311,611
 NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM N/A
Net Income (Loss) 696,291
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