Dec, 31, 2023 — NAFT FEDERAL CREDIT UNION is a federal credit union headquartered in PHARR, TX with 3 branch locations and about $130.10 million in total assets. Opened 68 years ago in 1956, NAFT FEDERAL CREDIT UNION has about 11,762 members and employs 36 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.
| Name: | NAFT FEDERAL CREDIT UNION |
|---|---|
| Address: (Main Office) | 901 N Veterans Blvd PHARR, TX 78577 |
| Phone: | (956) 787-2774 |
| Fax: | (956) 783-4998 |
| Website: | https://www.naftfcu.coop |
| Branches: | 3 branch locations |
| Members: | 11,762 |
| Credit Union Type: | Federal Credit Union |
| Charter Number: | 10994 |
|---|---|
| Membership Type: | Multiple common bond - Primarily educational |
| Corporate Credit Union: | No |
| Year Opened: | 1956 |
| Last Audited: | Sep 01, 2023 |
| FHLB Member: | No |
| Low Income Designation: | No |
| Assets: | $130,102,430 |
| CEO/Manager: | George H Bailey |
| Chairperson: | Jose A Farias |
| ASSETS: | $ Amount |
|---|---|
| Cash & Equivalents | 27,080,566 |
| TOTAL INVESTMENTS | 0 |
| Loans Held for Sale | 0 |
| Real Estate Loans | 0 |
| Unsecured Loans | 15,641,931 |
| Other Loans | 44,231,907 |
| TOTAL LOANS | 61,356,751 |
| (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -520,027 |
| Land And Building | 777,614 |
| Other Fixed Assets | 491,917 |
| NCUSIF Deposit | 1,061,981 |
| All Other Assets | 103,319 |
| TOTAL ASSETS | 130,102,430 |
| LIABILITIES & CAPITAL: | |
| Dividends Payable | 66,897 |
| Notes & Interest Payable | 0 |
| Accounts Payable & Other Liabilities | 836,886 |
| Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
| Share Drafts | 28,558,685 |
| Regular shares | 53,775,800 |
| All Other Shares & Deposits | 27,455,454 |
| TOTAL SHARES & DEPOSITS | 109,789,939 |
| TOTAL LIABILITIES | 110,693,722 |
| Regular Reserve | 0 |
| Other Reserves | 114,762 |
| Undivided Earnings | 19,293,946 |
| TOTAL EQUITY | 19,408,708 |
| TOTAL LIABILITIES, SHARES, & EQUITY | 130,102,430 |
| INCOME & EXPENSE | |
| Loan Income | 3,349,723 |
| Investment Income | 1,421,573 |
| Other Income | 890,168 |
| Total Employee Compensation & Benefits | 2,220,546 |
| NCUSIF Premiums Expense | 0 |
| Total Other Operating Expenses | 2,385,872 |
| Non-operating Income & (Expense) | 25 |
| NCUSIF Stabilization Income | N/A |
| Provision for Loan/Lease Losses or Total Credit Loss Expense | 102,904 |
| Cost of Funds | 463,526 |
| NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
| Net Income (Loss) | 1,819,973 |
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