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LOCAL 24 EMPLOYEES FEDERAL CREDIT UNION

Dec, 31, 2023 — LOCAL 24 EMPLOYEES FEDERAL CREDIT UNION is a federal credit union headquartered in PASADENA, TX with 1 branch location and about $13.00 million in total assets. Opened 63 years ago in 1961, LOCAL 24 EMPLOYEES FEDERAL CREDIT UNION has about 1,142 members and employs 4 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.


Name:LOCAL 24 EMPLOYEES FEDERAL CREDIT UNION
Address:
(Main Office)
5001 Red Bluff Rd
PASADENA, TX 77503
Phone:(281) 542-2400
Fax:(281) 542-2403
Website:https://www.local24efcu.com
Branches:1 branch locations
Members:1,142
Credit Union Type:Federal Credit Union
Charter Number:14656
Membership Type:Associational - Other than religious or fraternal, or 'low-income'
Corporate Credit Union:No
Year Opened:1961
Last Audited:Oct 01, 2023
FHLB Member:No
Low Income Designation:No
Assets:$12,995,670
CEO/Manager:Gisela Verastegui
Chairperson:Billy Wise

Call Report

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Financial Summary

» See also Statement of Financial Condition
ASSETS:$ Amount
Cash & Equivalents 1,988,620
TOTAL INVESTMENTS 0
Loans Held for Sale 0
 
 Real Estate Loans 0
 Unsecured Loans 1,352,944
 Other Loans 2,453,582
 TOTAL LOANS 3,806,526
 (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) -27,000
 Land And Building 884,771
 Other Fixed Assets 0
 NCUSIF Deposit 117,340
 All Other Assets 0
  TOTAL ASSETS 12,995,670
LIABILITIES & CAPITAL:  
 Dividends Payable 0
 Notes & Interest Payable 0
 Accounts Payable & Other Liabilities 182,225
 Uninsured Secondary Capital and Subordinated Debt Included in Net Worth 0
 Share Drafts 0
 Regular shares 10,555,265
 All Other Shares & Deposits 0
  TOTAL SHARES & DEPOSITS 10,555,265
  TOTAL LIABILITIES 10,737,490
 Regular Reserve 0
 Other Reserves 141,252
 Undivided Earnings 2,116,928
  TOTAL EQUITY 2,258,180
  TOTAL LIABILITIES, SHARES, & EQUITY 12,995,670
INCOME & EXPENSE  
 Loan Income 322,260
 Investment Income 257,278
 Other Income 39,361
 Total Employee Compensation & Benefits 224,605
 NCUSIF Premiums Expense 0
 Total Other Operating Expenses 283,258
 Non-operating Income & (Expense) 0
 NCUSIF Stabilization Income N/A
 Provision for Loan/Lease Losses or Total Credit Loss Expense -29,345
 Cost of Funds 25,224
 NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM N/A
Net Income (Loss) 147,929
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