Dec, 31, 2023 — TEXAS TECH FEDERAL CREDIT UNION is a federal credit union headquartered in LUBBOCK, TX with 5 branch locations and about $385.30 million in total assets. Opened 65 years ago in 1959, TEXAS TECH FEDERAL CREDIT UNION has about 33,607 members and employs 125 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.
| Name: | TEXAS TECH FEDERAL CREDIT UNION |
|---|---|
| Address: (Main Office) | 1802 Texas Tech Parkway LUBBOCK, TX 79409 |
| Phone: | (806) 742-3606 |
| Fax: | (806) 742-3699 |
| Website: | https://www.texastechfcu.org |
| Branches: | 5 branch locations |
| Members: | 33,607 |
| Credit Union Type: | Federal Credit Union |
| Charter Number: | 12858 |
|---|---|
| Membership Type: | Multiple common bond - Primarily educational |
| Corporate Credit Union: | No |
| Year Opened: | 1959 |
| Last Audited: | Jun 01, 2023 |
| FHLB Member: | Yes |
| Low Income Designation: | No |
| Assets: | $385,298,671 |
| CEO/Manager: | Chris Hutson |
| Chairperson: | Ronald Phillips |
| ASSETS: | $ Amount |
|---|---|
| Cash & Equivalents | 12,705,712 |
| TOTAL INVESTMENTS | 0 |
| Loans Held for Sale | 4,952,068 |
| Real Estate Loans | 104,316,861 |
| Unsecured Loans | 18,249,300 |
| Other Loans | 192,211,433 |
| TOTAL LOANS | 314,777,594 |
| (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -1,426,293 |
| Land And Building | 25,550,767 |
| Other Fixed Assets | 3,526,919 |
| NCUSIF Deposit | 3,143,344 |
| All Other Assets | 153,446 |
| TOTAL ASSETS | 385,298,671 |
| LIABILITIES & CAPITAL: | |
| Dividends Payable | 0 |
| Notes & Interest Payable | 0 |
| Accounts Payable & Other Liabilities | 8,230,918 |
| Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
| Share Drafts | 50,587,815 |
| Regular shares | 110,691,529 |
| All Other Shares & Deposits | 174,856,889 |
| TOTAL SHARES & DEPOSITS | 336,136,233 |
| TOTAL LIABILITIES | 344,367,151 |
| Regular Reserve | 0 |
| Other Reserves | 10,365,993 |
| Undivided Earnings | 30,565,527 |
| TOTAL EQUITY | 40,931,520 |
| TOTAL LIABILITIES, SHARES, & EQUITY | 385,298,671 |
| INCOME & EXPENSE | |
| Loan Income | 15,622,349 |
| Investment Income | 498,943 |
| Other Income | 3,178,145 |
| Total Employee Compensation & Benefits | 12,219,274 |
| NCUSIF Premiums Expense | 0 |
| Total Other Operating Expenses | 9,490,727 |
| Non-operating Income & (Expense) | 728,310 |
| NCUSIF Stabilization Income | N/A |
| Provision for Loan/Lease Losses or Total Credit Loss Expense | 504,187 |
| Cost of Funds | 5,760,387 |
| NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
| Net Income (Loss) | 1,905,297 |
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