Dec, 31, 2023 — GALVESTON GOVERNMENT EMPLOYEES CREDIT UNION (GGECU) is a federally insured state chartered credit union headquartered in LA MARQUE, TX with 1 branch location and about $7.09 million in total assets. Opened 91 years ago in 1933, GALVESTON GOVERNMENT EMPLOYEES CREDIT UNION (GGECU) has about 1,884 members offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.
Name: | GALVESTON GOVERNMENT EMPLOYEES CREDIT UNION |
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Address: (Main Office) | 14041 Delaney St LA MARQUE, TX 77568 |
Phone: | (409) 908-9834 |
Fax: | |
Website: | https://www.ggecu.com |
Branches: | 1 branch locations |
Members: | 1,884 |
Credit Union Type: | Federally Insured State Chartered Credit Union |
Charter Number: | 67427 |
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Membership Type: | State chartered natural person |
Corporate Credit Union: | No |
Year Opened: | 1933 |
Last Audited: | Mar 01, 2023 |
FHLB Member: | No |
Low Income Designation: | No |
Assets: | $7,086,913 |
CEO/Manager: | Rachel J Jones |
Chairperson: | Barbara E Sanderson |
ASSETS: | $ Amount |
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Cash & Equivalents | 389,350 |
TOTAL INVESTMENTS | 0 |
Loans Held for Sale | 0 |
Real Estate Loans | 0 |
Unsecured Loans | 258,009 |
Other Loans | 5,609,369 |
TOTAL LOANS | 5,867,378 |
(Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -13,698 |
Land And Building | 0 |
Other Fixed Assets | 0 |
NCUSIF Deposit | 67,992 |
All Other Assets | 42,757 |
TOTAL ASSETS | 7,086,913 |
LIABILITIES & CAPITAL: | |
Dividends Payable | 0 |
Notes & Interest Payable | 0 |
Accounts Payable & Other Liabilities | 1,056 |
Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
Share Drafts | 2,196,162 |
Regular shares | 2,547,436 |
All Other Shares & Deposits | 1,630,034 |
TOTAL SHARES & DEPOSITS | 6,373,633 |
TOTAL LIABILITIES | 6,374,689 |
Regular Reserve | 0 |
Other Reserves | 0 |
Undivided Earnings | 712,224 |
TOTAL EQUITY | 712,224 |
TOTAL LIABILITIES, SHARES, & EQUITY | 7,086,913 |
INCOME & EXPENSE | |
Loan Income | 316,799 |
Investment Income | 39,970 |
Other Income | 39,844 |
Total Employee Compensation & Benefits | 111,758 |
NCUSIF Premiums Expense | 0 |
Total Other Operating Expenses | 266,366 |
Non-operating Income & (Expense) | 0 |
NCUSIF Stabilization Income | N/A |
Provision for Loan/Lease Losses or Total Credit Loss Expense | 3,741 |
Cost of Funds | 30,394 |
NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
Net Income (Loss) | 22,708 |
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