Dec, 31, 2023 — MEMBERS CHOICE OF CENTRAL TEXAS FEDERAL CREDIT UNION is a federal credit union headquartered in WACO, TX with 3 branch locations and about $212.86 million in total assets. Opened 89 years ago in 1935, MEMBERS CHOICE OF CENTRAL TEXAS FEDERAL CREDIT UNION has about 19,935 members and employs 55 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.
| Name: | MEMBERS CHOICE OF CENTRAL TEXAS FEDERAL CREDIT UNION |
|---|---|
| Address: (Main Office) | 4631 W Waco Dr WACO, TX 76710 |
| Phone: | (254) 776-7070 |
| Fax: | |
| Website: | https://www.choicefcu.com |
| Branches: | 3 branch locations |
| Members: | 19,935 |
| Credit Union Type: | Federal Credit Union |
| Charter Number: | 199 |
|---|---|
| Membership Type: | Community - Rural District |
| Corporate Credit Union: | No |
| Year Opened: | 1935 |
| Last Audited: | Sep 01, 2023 |
| FHLB Member: | Yes |
| Low Income Designation: | No |
| Assets: | $212,859,250 |
| CEO/Manager: | Don Cox |
| Chairperson: | Brenda Alligood |
| ASSETS: | $ Amount |
|---|---|
| Cash & Equivalents | 9,527,162 |
| TOTAL INVESTMENTS | 0 |
| Loans Held for Sale | 0 |
| Real Estate Loans | 62,726,351 |
| Unsecured Loans | 7,101,022 |
| Other Loans | 84,170,653 |
| TOTAL LOANS | 153,998,026 |
| (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -663,618 |
| Land And Building | 2,398,456 |
| Other Fixed Assets | 295,907 |
| NCUSIF Deposit | 1,871,032 |
| All Other Assets | 77,361 |
| TOTAL ASSETS | 212,859,250 |
| LIABILITIES & CAPITAL: | |
| Dividends Payable | 36,005 |
| Notes & Interest Payable | 0 |
| Accounts Payable & Other Liabilities | 2,778,726 |
| Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
| Share Drafts | 28,683,407 |
| Regular shares | 77,714,908 |
| All Other Shares & Deposits | 78,437,444 |
| TOTAL SHARES & DEPOSITS | 184,835,759 |
| TOTAL LIABILITIES | 187,650,490 |
| Regular Reserve | 0 |
| Other Reserves | -6,155,486 |
| Undivided Earnings | 31,364,246 |
| TOTAL EQUITY | 25,208,760 |
| TOTAL LIABILITIES, SHARES, & EQUITY | 212,859,250 |
| INCOME & EXPENSE | |
| Loan Income | 6,976,072 |
| Investment Income | 1,556,428 |
| Other Income | 1,383,952 |
| Total Employee Compensation & Benefits | 3,595,941 |
| NCUSIF Premiums Expense | 0 |
| Total Other Operating Expenses | 3,823,468 |
| Non-operating Income & (Expense) | 254,838 |
| NCUSIF Stabilization Income | N/A |
| Provision for Loan/Lease Losses or Total Credit Loss Expense | 321,411 |
| Cost of Funds | 2,214,745 |
| NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
| Net Income (Loss) | 1,759,692 |
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