2024-09-06T13:47:50-07:00 2023-12-31 741694817 Wathen DeShong & Juncker LLP 4140 Gladys Avenue Suite 101 Beaumont TX 77706 990 2023-01-01 741110172 Gulf Credit Union GULF 4099631191 2779 A Aero Drive Port Arthur TX 77640 Todd Gaudin CEO 2024-09-06 true true Pat O'Neill P00064438 4098381605 2023 2024-08-08 14:25:15Z X 2779 A Aero Drive Port Arthur TX 77640 20448632 false X www.gecu.org X 1939 TX Cooperative, nonprofit financial institution providing credit union financial services. 7 7 93 146288 1887 0 14385627 13800996 1301708 1495854 -2469302 1651782 13218033 16948632 0 0 4741192 5678593 0 0 7283778 8926532 12024970 14605125 1193063 2343507 325190904 317965711 305735767 295380230 19455137 22585481 Voluntary, cooperative, non-profit savings institution (credit union) incorporated under the provisions of the Texas Credit Union Act, for the purpose of encouraging thrift among our members, providing credit at a fair and reasonable rate of interest and providing an opportunity to improve our member's economic condition. false false Gulf Credit Union offers share (savings) accounts with advantages to members of all ages. The credit union had 27,152 member-owned accounts as of December 31, 2023. Member savings accounts pay dividends quarterly and offer access via multiple avenues such as home banking, the Internet, and phone banking. Gulf Credit Union provides free share draft (checking) accounts to all members, business accounts, and limited free checks to senior citizens. The credit union had 15,543 share draft accounts as of December 31, 2023. Dividends are paid on these accounts monthly. Additionally, the credit union extends the reach of these accounts to all members with free debit and ATM cards, Internet account access, and the use of the automated phone teller. Gulf Credit Union provides vehicle and other consumer loans. The consumer loan product line includes efficient underwriting and flexible offerings for recreational vehicles, boats, and motorcycles. Consumer credit life and disability insurance is available on any of these loan types. The credit union carried 8,011 consumer loans as of December 31, 2023. false false false false false false false false false true false false false true false true false false false false false false false false false false false false true false true false false false false false false false false false false false false true 4748 0 true 93 true true true false false false false false false false X 7 7 false false false false true true false true true false false false true false false true true false false false X Todd Gaudin 4099631191 2779 A Aero Drive Port Arthur TX 77640 Todd Gaudin CEO 40.00 0.00 X 319145 0 12621 Stephine Adams COO 40.00 0.00 X 162518 0 12288 Linda Kiker Rials CFO 40.00 0.00 X 136482 0 15860 Bambi D McGinn Chief Information Officer 40.00 0.00 128059 0 6985 Barry Gorman Vice Chairman 0.81 0.00 X X 0 0 0 Johnny Lewallen Chairman 0.85 0.00 X X 0 0 0 Robert Lovelace Director 0.85 0.00 X 0 0 0 Dustin Marsh Director 0.77 0.00 X 0 0 0 Karen Brown Director 0.81 0.00 X X 0 0 0 Logan Delcambre Secretary/Treas 0.88 0.00 X 0 0 0 Joshua Lege Director 0.88 0.00 X 0 0 0 746204 47754 4 false true false 0 0 Fees & Charges 525990 5300432 5154144 146288 Interest fees on loans 522291 8500564 8500564 13800996 1591604 1591604 0 0 0 3404250 3500000 -95750 -95750 -95750 0 0 0 Prior Serv Pension Costs 900099 1651782 1651782 1651782 16948632 15210740 146288 1591604 0 0 0 0 793958 0 4487292 181435 -220644 436552 0 46585 88786 0 0 62880 1146287 1022857 118923 0 0 543341 61311 0 0 1189413 0 719946 182871 Provision for Loan Loss 1462661 Other Expenses 1325478 Office Operations 695746 Postage and Shipping 259447 0 14605125 0 0 0 17139391 17073186 85797964 76776356 0 999678 707034 1557286 1635897 0 182533064 175364476 0 18921346 21776280 21803820 5782496 9589458 16021324 0 0 0 0 8652717 8611158 325190904 317965711 4798802 2823630 196000 148000 5000000 300740965 287408600 305735767 295380230 X 19455137 22585481 19455137 22585481 325190904 317965711 2343507 1875777 -1088940 X false true X true false 1499723 1499723 18152878 4320922 13831956 2151219 1461574 689645 16021324 Dividends Payable 44236 Drafts Payable 314957 Member share accounts 287049407 287408600 16948632 16948632 16948632 14605125 14605125 14605125 X false true false Linda Kiker Rials CFO 136482 12722 3138 152342 Stephine Adams COO 162518 12005 283 174806 Todd Gaudin CEO 319145 11334 1287 331766 Ronald Burkhalter Former CEO Ins. Policy X 1600000 1635897 false true true 1635897 Form 990, Part VI, Section B, Line 11b A copy of the Form 990 is provided to each member of Gulf Credit Union's Board of Directors. Form 990, Part VI, Section C, Line 19 Gulf Credit Union makes its governing documents, conflict of interest policy and financial statements available to the public upon request. Statement Note 1 Gulf Credit UnionSchedule J Form 990 2022Part III Supplemental InformationPart I - Line 4b - Supplemental Non-Qualified Deferred Compensation Plan (457(f) Plan) Linda Kiker Stephine Adams Rials - CFO COO TotalAccrued Liabilities 61,494 26,866 88,36012/31/2022 Vesting & Payment 7/1/2024 81,000 - 81,000 Vesting & Payment 9/1/2025 - 25,000 25,000 Vesting & Payment 9/1/2030 - 35,000 35,000 These 12/31/2022 accrued liabilities are included in Part X, Line 17, Accounts Payable and Accrued Expenses.