Dec, 31, 2023 — RIO GRANDE VALLEY CREDIT UNION (RGV) is a federally insured state chartered credit union headquartered in HARLINGEN, TX with 5 branch locations and about $150.06 million in total assets. Opened 70 years ago in 1954, RIO GRANDE VALLEY CREDIT UNION (RGV) has about 17,528 members and employs 45 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.
| Name: | RIO GRANDE VALLEY CREDIT UNION |
|---|---|
| Address: (Main Office) | 1221 Morgan Blvd HARLINGEN, TX 78550-5154 |
| Phone: | (956) 423-5792 |
| Fax: | (956) 423-3105 |
| Website: | https://www.rgvcu.coop |
| Branches: | 5 branch locations |
| Members: | 17,528 |
| Credit Union Type: | Federally Insured State Chartered Credit Union |
| Charter Number: | 61734 |
|---|---|
| Membership Type: | State chartered natural person |
| Corporate Credit Union: | No |
| Year Opened: | 1954 |
| Last Audited: | Mar 01, 2023 |
| FHLB Member: | No |
| Low Income Designation: | No |
| Assets: | $150,057,537 |
| CEO/Manager: | Sherilyn Goad |
| Chairperson: | David Jones |
| ASSETS: | $ Amount |
|---|---|
| Cash & Equivalents | 16,681,722 |
| TOTAL INVESTMENTS | 0 |
| Loans Held for Sale | 0 |
| Real Estate Loans | 6,156,135 |
| Unsecured Loans | 11,697,059 |
| Other Loans | 67,680,284 |
| TOTAL LOANS | 85,533,478 |
| (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -252,667 |
| Land And Building | 4,490,783 |
| Other Fixed Assets | 335,173 |
| NCUSIF Deposit | 1,372,244 |
| All Other Assets | 0 |
| TOTAL ASSETS | 150,057,537 |
| LIABILITIES & CAPITAL: | |
| Dividends Payable | 13,135 |
| Notes & Interest Payable | 0 |
| Accounts Payable & Other Liabilities | 3,003,896 |
| Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
| Share Drafts | 34,433,330 |
| Regular shares | 86,882,649 |
| All Other Shares & Deposits | 11,172,674 |
| TOTAL SHARES & DEPOSITS | 132,488,653 |
| TOTAL LIABILITIES | 135,505,684 |
| Regular Reserve | 0 |
| Other Reserves | 381,453 |
| Undivided Earnings | 14,170,400 |
| TOTAL EQUITY | 14,551,853 |
| TOTAL LIABILITIES, SHARES, & EQUITY | 150,057,537 |
| INCOME & EXPENSE | |
| Loan Income | 4,055,948 |
| Investment Income | 1,046,590 |
| Other Income | 1,299,167 |
| Total Employee Compensation & Benefits | 2,873,144 |
| NCUSIF Premiums Expense | 0 |
| Total Other Operating Expenses | 1,821,712 |
| Non-operating Income & (Expense) | 1,224,316 |
| NCUSIF Stabilization Income | N/A |
| Provision for Loan/Lease Losses or Total Credit Loss Expense | 128,934 |
| Cost of Funds | 289,692 |
| NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
| Net Income (Loss) | 2,525,351 |
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