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CREDIT UNION OF TEXAS

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.


ABA Routing Number: 311079306
Name:CREDIT UNION OF TEXAS
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
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

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Financial Summary

» See also Statement of Financial Condition
ASSETS:$ Amount
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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