Dec, 31, 2023 — TEXAR FEDERAL CREDIT UNION is a federal credit union headquartered in TEXARKANA, TX with 4 branch locations and about $445.66 million in total assets. Opened 73 years ago in 1951, TEXAR FEDERAL CREDIT UNION has about 30,175 members and employs 72 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.
| Name: | TEXAR FEDERAL CREDIT UNION |
|---|---|
| Address: (Main Office) | 2301 RICHMOND RD TEXARKANA, TX 75503 |
| Phone: | (903) 223-0000 |
| Fax: | (903) 792-1810 |
| Website: | https://www.gotexar.com |
| Branches: | 4 branch locations |
| Members: | 30,175 |
| Credit Union Type: | Federal Credit Union |
| Charter Number: | 24567 |
|---|---|
| Membership Type: | Community - Rural District |
| Corporate Credit Union: | No |
| Year Opened: | 1951 |
| Last Audited: | Dec 01, 2022 |
| FHLB Member: | Yes |
| Low Income Designation: | No |
| Assets: | $445,659,630 |
| CEO/Manager: | KELLY MITCHELL |
| Chairperson: | PAUL COTHREN |
| ASSETS: | $ Amount |
|---|---|
| Cash & Equivalents | 16,244,813 |
| TOTAL INVESTMENTS | 0 |
| Loans Held for Sale | 0 |
| Real Estate Loans | 114,705,636 |
| Unsecured Loans | 17,149,318 |
| Other Loans | 130,623,129 |
| TOTAL LOANS | 262,569,669 |
| (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -1,134,544 |
| Land And Building | 3,247,398 |
| Other Fixed Assets | 871,394 |
| NCUSIF Deposit | 3,109,096 |
| All Other Assets | 91,518 |
| TOTAL ASSETS | 445,659,630 |
| LIABILITIES & CAPITAL: | |
| Dividends Payable | 724,845 |
| Notes & Interest Payable | 60,000,000 |
| Accounts Payable & Other Liabilities | 4,049,591 |
| Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
| Share Drafts | 44,028,167 |
| Regular shares | 65,976,612 |
| All Other Shares & Deposits | 220,984,714 |
| TOTAL SHARES & DEPOSITS | 330,989,493 |
| TOTAL LIABILITIES | 395,763,929 |
| Regular Reserve | 0 |
| Other Reserves | -16,799,406 |
| Undivided Earnings | 66,695,107 |
| TOTAL EQUITY | 49,895,701 |
| TOTAL LIABILITIES, SHARES, & EQUITY | 445,659,630 |
| INCOME & EXPENSE | |
| Loan Income | 14,644,091 |
| Investment Income | 5,354,188 |
| Other Income | 2,160,461 |
| Total Employee Compensation & Benefits | 6,418,089 |
| NCUSIF Premiums Expense | 0 |
| Total Other Operating Expenses | 6,670,985 |
| Non-operating Income & (Expense) | 295,589 |
| NCUSIF Stabilization Income | N/A |
| Provision for Loan/Lease Losses or Total Credit Loss Expense | 1,062,793 |
| Cost of Funds | 9,190,901 |
| NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
| Net Income (Loss) | 2,692,060 |
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