Dec, 31, 2023 — TEX MEX CREDIT UNION is a federally insured state chartered credit union headquartered in LAREDO, TX with 2 branch locations and about $10.45 million in total assets. Opened 71 years ago in 1953, TEX MEX CREDIT UNION has about 3,911 members and employs 5 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.
| Name: | TEX MEX CREDIT UNION |
|---|---|
| Address: (Main Office) | 1420 Cedar Ave LAREDO, TX 78040-7956 |
| Phone: | (956) 722-1032 |
| Fax: | (956) 722-9876 |
| Website: | https://tmcu.com |
| Branches: | 2 branch locations |
| Members: | 3,911 |
| Credit Union Type: | Federally Insured State Chartered Credit Union |
| Charter Number: | 67579 |
|---|---|
| Membership Type: | State chartered natural person |
| Corporate Credit Union: | No |
| Year Opened: | 1953 |
| Last Audited: | Jun 01, 2022 |
| FHLB Member: | No |
| Low Income Designation: | No |
| Assets: | $10,446,655 |
| CEO/Manager: | David Vega |
| Chairperson: | Cesar J Cabello |
| ASSETS: | $ Amount |
|---|---|
| Cash & Equivalents | 314,298 |
| TOTAL INVESTMENTS | 0 |
| Loans Held for Sale | 0 |
| Real Estate Loans | 0 |
| Unsecured Loans | 3,324,057 |
| Other Loans | 3,019,307 |
| TOTAL LOANS | 6,343,364 |
| (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -76,191 |
| Land And Building | 241,511 |
| Other Fixed Assets | 20,661 |
| NCUSIF Deposit | 91,497 |
| All Other Assets | 0 |
| TOTAL ASSETS | 10,446,655 |
| LIABILITIES & CAPITAL: | |
| Dividends Payable | 6 |
| Notes & Interest Payable | 0 |
| Accounts Payable & Other Liabilities | 56,508 |
| Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
| Share Drafts | 476,143 |
| Regular shares | 3,183,569 |
| All Other Shares & Deposits | 4,060,125 |
| TOTAL SHARES & DEPOSITS | 7,719,833 |
| TOTAL LIABILITIES | 7,776,347 |
| Regular Reserve | 0 |
| Other Reserves | 0 |
| Undivided Earnings | 2,670,308 |
| TOTAL EQUITY | 2,670,308 |
| TOTAL LIABILITIES, SHARES, & EQUITY | 10,446,655 |
| INCOME & EXPENSE | |
| Loan Income | 562,416 |
| Investment Income | 116,540 |
| Other Income | 54,021 |
| Total Employee Compensation & Benefits | 339,458 |
| NCUSIF Premiums Expense | 0 |
| Total Other Operating Expenses | 348,147 |
| Non-operating Income & (Expense) | 14,500 |
| NCUSIF Stabilization Income | N/A |
| Provision for Loan/Lease Losses or Total Credit Loss Expense | 84,577 |
| Cost of Funds | 24,820 |
| NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
| Net Income (Loss) | -14,403 |
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