ADA Employees

        Credit Union

6603 Kirbyville Street
Houston, TX 77033
ph: 713-640-0160
fax: 713-640-0151

FINANCIAL STATEMENT

DECEMBER 31, 2009

ASSETS                                                              LIABILITIES

Loans to members (net)     $  1,273,891                Members Shares   $  2,399,473

Cash in Bank                          348,509                Accounts Payable         13,709

SW Corp FCU                           97,426                Special Reserves          58,779

12 Mon Certificate of Deposit    347,907                Undivided Earnings      230,820

13 Mon Certificate of Deposit      99,000

15 Mon Certificate of Deposit      99,000

18 Mon Certificate of Deposit      99,000

24 Mon Certificate of Deposit    299,000

Prepaid Expenses                         426

Fixed Assets (net)                           1

Investment in CUSO                  12,500

Other Assets                           23,825

Accrued Interest on Loans           2,150

Acrued Income on Investments       146

                                                                                                              

                                      $  2,702,781                                              $  2,702,781

 

  • STATEMENT OF OPERATIONS

    DECEMBER 31, 2008

    INCOME

    Interest on Loans                           $   97,702

    Interest Refunds                                 (13,732)

    Investment Income                              31,621

    Fees, Charges & Misc.                            2,360

              Total Income                                           $   117,952

     

    EXPENSES

    Annual Meeting Expense                          281

    Association Dues                                   2,419

    Examination Fees                                  1,482

    Insurance - Bonds & Other                    3,292

    Loan Servicing                                          653

    Members Insurance                             13,859

    NCUSIF Stabilization Exp                     20,085

    Office Operations                                  9,413

    Outside Audit Fees                                1,800

    Professional Fees                                  6,272

    Provision for Loan Losses                     4,482

    Travel & Conference                                  72

    Miscellaneous Expenses                       2,407

     

              Total Operating Expense                          $   66,517

              Income from Operations                          $   51,435

     

     

     

     

     

     

    This Credit Union is Incorporated under the laws of the State of Texas and under state law is subject to regulatory oversight by the Texas Credit Union Department.  Any member wishing to file a complaint against the Credit Union should contact the Texas Credit Union Department through one of the means indicated below: 

     

    Texas Credit Union Department

    914 East Anderson Lane

    Austin, Texas 78752-1699 

    Phone - (512) 837-9236

    Fax - (512) 832-0278

    E-mail - complaints@tcud.state.tx.us

    Website - www.tcud.state.tx.us

     

     

     

     

     

    Please Note :

    Please note that the Department does not have authority to resolve contractual disputes or undocumented factual disputes between a member and this credit union.  If your dispute is of this nature, you may want to consult with legal counsel regarding your rights to resolve the situation

     

     

 


6603 Kirbyville Street
Houston, TX 77033
ph: 713-640-0160
fax: 713-640-0151