Dec, 31, 2023 — NECHES FEDERAL CREDIT UNION is a federal credit union headquartered in PORT NECHES, TX with 11 branch locations and about $931.93 million in total assets. Opened 72 years ago in 1952, NECHES FEDERAL CREDIT UNION has about 73,370 members and employs 227 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.
| Name: | NECHES FEDERAL CREDIT UNION |
|---|---|
| Address: (Main Office) | 676 Magnolia Ave PORT NECHES, TX 77651 |
| Phone: | (409) 722-1174 |
| Fax: | (409) 721-9838 |
| Website: | https://www.nechesfcu.org |
| Branches: | 11 branch locations |
| Members: | 73,370 |
| Credit Union Type: | Federal Credit Union |
| Charter Number: | 7916 |
|---|---|
| Membership Type: | Community - Rural District |
| Corporate Credit Union: | No |
| Year Opened: | 1952 |
| Last Audited: | Mar 01, 2023 |
| FHLB Member: | No |
| Low Income Designation: | No |
| Assets: | $931,931,932 |
| CEO/Manager: | Jason Landry |
| Chairperson: | Wesley Spivey |
| ASSETS: | $ Amount |
|---|---|
| Cash & Equivalents | 46,278,997 |
| TOTAL INVESTMENTS | 0 |
| Loans Held for Sale | 0 |
| Real Estate Loans | 259,417,696 |
| Unsecured Loans | 69,599,045 |
| Other Loans | 376,371,567 |
| TOTAL LOANS | 705,388,308 |
| (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -2,402,915 |
| Land And Building | 29,604,717 |
| Other Fixed Assets | 4,432,070 |
| NCUSIF Deposit | 6,962,851 |
| All Other Assets | 420,193 |
| TOTAL ASSETS | 931,931,932 |
| LIABILITIES & CAPITAL: | |
| Dividends Payable | 1,080,565 |
| Notes & Interest Payable | 0 |
| Accounts Payable & Other Liabilities | 7,539,069 |
| Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
| Share Drafts | 149,967,223 |
| Regular shares | 249,497,203 |
| All Other Shares & Deposits | 381,626,179 |
| TOTAL SHARES & DEPOSITS | 781,090,605 |
| TOTAL LIABILITIES | 789,710,239 |
| Regular Reserve | 0 |
| Other Reserves | 0 |
| Undivided Earnings | 142,221,693 |
| TOTAL EQUITY | 142,221,693 |
| TOTAL LIABILITIES, SHARES, & EQUITY | 931,931,932 |
| INCOME & EXPENSE | |
| Loan Income | 37,782,680 |
| Investment Income | 1,880,774 |
| Other Income | 8,324,605 |
| Total Employee Compensation & Benefits | 16,422,407 |
| NCUSIF Premiums Expense | 0 |
| Total Other Operating Expenses | 20,489,785 |
| Non-operating Income & (Expense) | 439,468 |
| NCUSIF Stabilization Income | N/A |
| Provision for Loan/Lease Losses or Total Credit Loss Expense | 2,692,592 |
| Cost of Funds | 8,373,229 |
| NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
| Net Income (Loss) | 13,311,115 |
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