Gecu
- Assets
- $3.7b
- Revenue
- $222.1m
- Investments
- $563.2m
- Employees
- 1,152
- Location
- El Paso, TX
- Founding
- 06/1976
- Data as of
- 12/2021
- EIN
- 74-0650998
Organization Overview
Gecu is located in El Paso, TX. The organization was established in 1976. According to its NTEE Classification (W60) the organization is classified as: Financial Institutions, under the broad grouping of Public & Societal Benefit and related organizations. As of 12/2021, Gecu employed 1,152 individuals. This organization is a subordinate organization within an affiliated group for tax-exemption purposes. Gecu is a 501(c)(14) and as such, is described as a "State Chartered Credit Union, Mutual Reserve Fund" by the IRS.
For the year ending 12/2021, Gecu generated $222.1m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 7.0% each year. All expenses for the organization totaled $164.2m during the year ending 12/2021. While expenses have increased by 4.7% per year over the past 7 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
COOPERATIVE PROVIDER OF CREDIT UNION FINANCIAL SERVICES
Describe the Organization's Program Activity:
Part 3 - Line 4a
GECU IS A MEMBER-OWNED, COOPERATIVE, NON-PROFIT FINANCIAL SERVICES PROVIDER INCORPORATED UNDER THE PROVISIONS OF THE TEXAS CREDIT UNION ACT TO ENCOURAGE THRIFT AMONG MEMBERS, PROVIDE CREDIT AT A FAIR AND REASONABLE RATE OF INTEREST AND CREATE OPPORTUNITIES TO IMPROVE ITS MEMBERS' ECONOMIC CONDITION. GECU OFFERS PERSONAL, AUTO, BUSINESS AND HOME LOANS TO ITS MEMBERS. AT DECEMBER 31, 2021, TOTAL NUMBER OF OUTSTANDING LOANS WAS 199,041 WITH AN OUTSTANDING BALANCE OF $2,522,155,299. GECU ALSO PROVIDES VARIOUS DEPOSIT ACCOUNT OPTIONS INCLUDING CHECKING, SAVINGS, CERTIFICATES OF DEPOSIT, INDIVIDUAL RETIREMENT ACCOUNTS AND MONEY MARKET ACCOUNTS. AT DECEMBER 31, 2021, TOTAL DEPOSIT ACCOUNTS WERE 661,159 AND OUTSTANDING DEPOSITS WERE $3,217,253,802.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Crystal D Long President/ceo | Officer | 40 | $1,081,060 |
Hazel Kennedy Sr. VP - Chief Lending Off | Officer | 40 | $775,169 |
Darlene Palmore Sr. VP - Chief Compliance | Officer | 40 | $763,975 |
Cecilia A Davila Sr. VP - Chief Operations | Officer | 40 | $754,578 |
Roy Tompkins Sr. VP - Chief Commercial | Officer | 40 | $414,543 |
David Rascon Sr. VP - Chief Financial O | Officer | 40 | $350,347 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Co-op Financial Services Financial Services | 12/30/21 | $13,618,712 |
Ncr Corporation It Services | 12/30/21 | $8,021,088 |
Mastercard International Inc Card Services | 12/30/21 | $5,503,405 |
Shi International Corp Computer Software, Hardware And It | 12/30/21 | $1,716,966 |
Horizontal Integration Inc It Services | 12/30/21 | $1,291,309 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $0 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $0 |
| Total Program Service Revenue | $139,483,788 |
| Investment income | $2,757,282 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $890,551 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $222,114,762 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $9,425,362 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $40,216,586 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $3,201,792 |
| Other employee benefits | $6,036,638 |
| Payroll taxes | $3,150,614 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $283,616 |
| Fees for services: Accounting | $83,450 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $5,750,460 |
| Office expenses | $7,126,409 |
| Information technology | $6,220,048 |
| Royalties | $0 |
| Occupancy | $5,854,160 |
| Travel | $72,570 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $164,596 |
| Interest | $18,798,327 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $11,063,313 |
| Insurance | $699,687 |
| All other expenses | $0 |
| Total functional expenses | $164,199,081 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $436,499,921 |
| Savings and temporary cash investments | $1,261,709 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $0 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $2,522,155,299 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $5,797,120 |
| Net Land, buildings, and equipment | $72,586,297 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $563,196,101 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $121,881,063 |
| Total assets | $3,723,377,510 |
| Accounts payable and accrued expenses | $27,563,569 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $1,804,206 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $70,772,921 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $3,217,253,802 |
| Total liabilities | $3,317,394,498 |
| Net assets without donor restrictions | $0 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $16,834,261 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $389,148,751 |
| Total liabilities and net assets/fund balances | $3,723,377,510 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Gecu has recieved totaling $52,873.
| Awarding Organization | Amount |
|---|---|
Consumer Credit Counseling Service Of San Francisco Concord, CA PURPOSE: HOUSING COUNSELING & EDUCATION | $52,873 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Gecu El Paso, TX | $3,723,377,510 | $222,114,762 |
Texas Guaranteed Student Loan Corporation Round Rock, TX | $787,960,851 | $132,060,049 |
Eecu Fort Worth, TX | $3,346,818,050 | $132,703,955 |
Datcu Corinth, TX | $1,472,218,560 | $58,120,235 |
Smart Financial Credit Union Houston, TX | $863,045,485 | $34,269,474 |
East Texas Professional Credit Longview, TX | $963,213,382 | $39,825,100 |
Texell Credit Union Temple, TX | $562,565,721 | $32,645,542 |
Capital Certified Development Corporation Austin, TX | $10,331,482 | $7,851,539 |
Brazos Student Finance Corporation Waco, TX | $111,165,594 | $4,506,585 |
Trans Texas Southwest San Angelo, TX | $44,278,686 | $2,099,854 |
Student Loan Guarantee Foundation Of Arkansas North Little Rock, AR | $5,532,296 | $1,265 |
Human Milk Banking Association Of North America Fort Worth, TX | $1,162,714 | $410,642 |