Dec, 31, 2023 — CREDIT UNION OF TEXAS is a federally insured state chartered credit union headquartered in ALLEN, TX with 23 branch locations and about $2.50 billion in total assets. Opened 93 years ago in 1931, CREDIT UNION OF TEXAS has about 165,920 members and employs 516 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.
Name: | CREDIT UNION OF TEXAS |
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Address: (Main Office) | 900 W Bethany Dr Ste 500 ALLEN, TX 75013-3834 |
Phone: | (972) 263-9497 |
Fax: | |
Website: | https://cutx.org |
Branches: | 23 branch locations |
Members: | 165,920 |
Credit Union Type: | Federally Insured State Chartered Credit Union |
Charter Number: | 66327 |
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Membership Type: | State chartered natural person |
Corporate Credit Union: | No |
Year Opened: | 1931 |
Last Audited: | Dec 01, 2022 |
FHLB Member: | Yes |
Low Income Designation: | No |
Assets: | $2,498,957,380 |
CEO/Manager: | Eric V Pointer |
Chairperson: | Nancy J Worst |
ASSETS: | $ Amount |
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Cash & Equivalents | 84,040,847 |
TOTAL INVESTMENTS | 0 |
Loans Held for Sale | 929,014 |
Real Estate Loans | 970,146,171 |
Unsecured Loans | 83,929,972 |
Other Loans | 1,122,149,094 |
TOTAL LOANS | 2,176,225,237 |
(Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -17,868,978 |
Land And Building | 24,868,657 |
Other Fixed Assets | 73,505,736 |
NCUSIF Deposit | 17,858,867 |
All Other Assets | 234,765 |
TOTAL ASSETS | 2,498,957,380 |
LIABILITIES & CAPITAL: | |
Dividends Payable | 881,771 |
Notes & Interest Payable | 218,000,000 |
Accounts Payable & Other Liabilities | 93,847,726 |
Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 25,000,000 |
Share Drafts | 50,981,892 |
Regular shares | 855,191,608 |
All Other Shares & Deposits | 1,080,980,587 |
TOTAL SHARES & DEPOSITS | 1,987,154,087 |
TOTAL LIABILITIES | 2,324,883,584 |
Regular Reserve | 0 |
Other Reserves | 26,302,043 |
Undivided Earnings | 147,771,753 |
TOTAL EQUITY | 174,073,796 |
TOTAL LIABILITIES, SHARES, & EQUITY | 2,498,957,380 |
INCOME & EXPENSE | |
Loan Income | 122,555,684 |
Investment Income | 1,665,541 |
Other Income | 21,854,427 |
Total Employee Compensation & Benefits | 56,627,279 |
NCUSIF Premiums Expense | 0 |
Total Other Operating Expenses | 65,148,577 |
Non-operating Income & (Expense) | 6,347,383 |
NCUSIF Stabilization Income | N/A |
Provision for Loan/Lease Losses or Total Credit Loss Expense | 9,548,376 |
Cost of Funds | 55,257,655 |
NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
Net Income (Loss) | 10,564,641 |
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