Dec, 31, 2023 — TEXASGULF FEDERAL CREDIT UNION is a federal credit union headquartered in WHARTON, TX with 2 branch locations and about $188.49 million in total assets. Opened 87 years ago in 1937, TEXASGULF FEDERAL CREDIT UNION has about 14,488 members and employs 31 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.
| Name: | TEXASGULF FEDERAL CREDIT UNION |
|---|---|
| Address: (Main Office) | 2101 N Fulton st WHARTON, TX 77488 |
| Phone: | (979) 282-2300 |
| Fax: | (979) 282-2323 |
| Website: | https://www.texasgulffcu.org |
| Branches: | 2 branch locations |
| Members: | 14,488 |
| Credit Union Type: | Federal Credit Union |
| Charter Number: | 2322 |
|---|---|
| Membership Type: | Community credit unions, urban or rural, other than those designated 'low income' |
| Corporate Credit Union: | No |
| Year Opened: | 1937 |
| Last Audited: | Sep 01, 2023 |
| FHLB Member: | No |
| Low Income Designation: | No |
| Assets: | $188,486,972 |
| CEO/Manager: | J. Michael Sterry |
| Chairperson: | Weldon Ferrell |
| ASSETS: | $ Amount |
|---|---|
| Cash & Equivalents | 10,653,549 |
| TOTAL INVESTMENTS | 0 |
| Loans Held for Sale | 0 |
| Real Estate Loans | 45,399,904 |
| Unsecured Loans | 10,599,011 |
| Other Loans | 61,955,418 |
| TOTAL LOANS | 117,954,333 |
| (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -586,232 |
| Land And Building | 1,563,871 |
| Other Fixed Assets | 135,262 |
| NCUSIF Deposit | 1,578,264 |
| All Other Assets | 8,953 |
| TOTAL ASSETS | 188,486,972 |
| LIABILITIES & CAPITAL: | |
| Dividends Payable | 689,285 |
| Notes & Interest Payable | 0 |
| Accounts Payable & Other Liabilities | 1,808,525 |
| Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
| Share Drafts | 25,821,999 |
| Regular shares | 64,790,626 |
| All Other Shares & Deposits | 72,848,853 |
| TOTAL SHARES & DEPOSITS | 163,461,477 |
| TOTAL LIABILITIES | 165,959,287 |
| Regular Reserve | 0 |
| Other Reserves | -3,916,119 |
| Undivided Earnings | 26,443,804 |
| TOTAL EQUITY | 22,527,685 |
| TOTAL LIABILITIES, SHARES, & EQUITY | 188,486,972 |
| INCOME & EXPENSE | |
| Loan Income | 5,706,757 |
| Investment Income | 1,523,469 |
| Other Income | 939,387 |
| Total Employee Compensation & Benefits | 2,329,564 |
| NCUSIF Premiums Expense | 0 |
| Total Other Operating Expenses | 1,397,230 |
| Non-operating Income & (Expense) | 0 |
| NCUSIF Stabilization Income | N/A |
| Provision for Loan/Lease Losses or Total Credit Loss Expense | 205,153 |
| Cost of Funds | 2,663,330 |
| NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
| Net Income (Loss) | 1,856,351 |
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