Dec, 31, 2023 — SHERWIN FEDERAL CREDIT UNION is a federal credit union headquartered in PORTLAND, TX with 1 branch location and about $7.48 million in total assets. Opened 66 years ago in 1958, SHERWIN FEDERAL CREDIT UNION has about 1,881 members and employs 3 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.
| Name: | SHERWIN FEDERAL CREDIT UNION |
|---|---|
| Address: (Main Office) | 607 8th St PORTLAND, TX 78374 |
| Phone: | (361) 704-9100 |
| Fax: | (361) 704-6966 |
| Website: | https://www.sherwinfcu.org |
| Branches: | 1 branch locations |
| Members: | 1,881 |
| Credit Union Type: | Federal Credit Union |
| Charter Number: | 12259 |
|---|---|
| Membership Type: | Multiple common bond - Primarily chemical |
| Corporate Credit Union: | No |
| Year Opened: | 1958 |
| Last Audited: | Dec 01, 2022 |
| FHLB Member: | No |
| Low Income Designation: | No |
| Assets: | $7,475,766 |
| CEO/Manager: | SANDRA REYES |
| Chairperson: | Jacob T Lopez |
| ASSETS: | $ Amount |
|---|---|
| Cash & Equivalents | 1,762,276 |
| TOTAL INVESTMENTS | 0 |
| Loans Held for Sale | 0 |
| Real Estate Loans | 0 |
| Unsecured Loans | 363,533 |
| Other Loans | 2,921,767 |
| TOTAL LOANS | 3,306,286 |
| (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -3,333 |
| Land And Building | 0 |
| Other Fixed Assets | 575,223 |
| NCUSIF Deposit | 59,663 |
| All Other Assets | 0 |
| TOTAL ASSETS | 7,475,766 |
| LIABILITIES & CAPITAL: | |
| Dividends Payable | 0 |
| Notes & Interest Payable | 0 |
| Accounts Payable & Other Liabilities | 77,919 |
| Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
| Share Drafts | 913,725 |
| Regular shares | 3,990,956 |
| All Other Shares & Deposits | 826 |
| TOTAL SHARES & DEPOSITS | 4,905,508 |
| TOTAL LIABILITIES | 4,983,427 |
| Regular Reserve | 0 |
| Other Reserves | 0 |
| Undivided Earnings | 2,492,339 |
| TOTAL EQUITY | 2,492,339 |
| TOTAL LIABILITIES, SHARES, & EQUITY | 7,475,766 |
| INCOME & EXPENSE | |
| Loan Income | 191,919 |
| Investment Income | 75,618 |
| Other Income | 69,682 |
| Total Employee Compensation & Benefits | 150,997 |
| NCUSIF Premiums Expense | 0 |
| Total Other Operating Expenses | 248,098 |
| Non-operating Income & (Expense) | 32,781 |
| NCUSIF Stabilization Income | N/A |
| Provision for Loan/Lease Losses or Total Credit Loss Expense | 4,800 |
| Cost of Funds | 17,855 |
| NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
| Net Income (Loss) | -28,564 |
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