Tex Mex Credit Union
- Assets
- $12.3m
- Revenue
- $705.0k
- Investments
- $0.0
- Employees
- 9
- Location
- Laredo, TX
- Founding
- 06/1976
- Data as of
- 12/2022
- EIN
- 74-1200392
Organization Overview
Tex Mex Credit Union is located in Laredo, TX. The organization was established in 1976. According to its NTEE Classification (W61) the organization is classified as: Credit Unions, under the broad grouping of Public & Societal Benefit and related organizations. As of 12/2022, Tex Mex Credit Union employed 9 individuals. This organization is a subordinate organization within an affiliated group for tax-exemption purposes. Tex Mex Credit Union 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 12/2022, Tex Mex Credit Union generated $705.0k in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 3.1% each year. All expenses for the organization totaled $649.0k during the year ending 12/2022. While expenses have increased by 1.0% per year over the past 8 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
2022
Describe the Organization's Mission:
Part 3 - Line 1
TO PROVIDE FINANCIAL SERVICES TO ITS MEMBERS AT COMPETITIVE PRICES
Describe the Organization's Program Activity:
Part 3 - Line 4a
TEX MEX OFFERS ALL TYPES OF LOAN PRODUCTS AT COMPETITIVE RATES
TEX MEX OFFERS DEPOSIT PRODUCTS AT COMPETITIVE RATES
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Enrique Villarreal President/ceo | Officer | 40 | $107,000 |
Cesar Cabello Board Chair | OfficerTrustee | 0.5 | $0 |
Joseph Jackson Vice Chair | OfficerTrustee | 0.5 | $0 |
Manuel Uribe Treasurer | OfficerTrustee | 0.5 | $0 |
Irma Del Barrio Board Member | Trustee | 0.5 | $0 |
Orlando Navarro Board Member | Trustee | 0.5 | $0 |
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 | $622,768 |
| Investment income | $58,266 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $705,008 |
| 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. | $107,000 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $137,240 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $68,302 |
| Payroll taxes | $0 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $139,354 |
| Advertising and promotion | $3,314 |
| Office expenses | $71,669 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $43,966 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $0 |
| All other expenses | $29,802 |
| Total functional expenses | $649,031 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $251,196 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $38,121 |
| Loans from Officers, Directors, or Controlling Persons | $14,538 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $6,106,406 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $5,760 |
| Net Land, buildings, and equipment | $271,290 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $5,615,823 |
| Intangible assets | $0 |
| Other assets | $37,521 |
| Total assets | $12,340,655 |
| Accounts payable and accrued expenses | $38,091 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $9,617,852 |
| Total liabilities | $9,655,943 |
| Net assets without donor restrictions | $0 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $2,684,712 |
| Total liabilities and net assets/fund balances | $12,340,655 |
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|---|---|---|
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