Dec, 31, 2023 — WORKERS CREDIT UNION is a federal credit union headquartered in LITTLETON, MA with 17 branch locations and about $2.64 billion in total assets. Opened 110 years ago in 1914, WORKERS CREDIT UNION has about 123,759 members and employs 336 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.
| Name: | WORKERS CREDIT UNION |
|---|---|
| Address: (Main Office) | 119 Russell St LITTLETON, MA 01460 |
| Phone: | (978) 345-1021 |
| Fax: | |
| Website: | https://www.wcu.com |
| Branches: | 17 branch locations |
| Members: | 123,759 |
| Credit Union Type: | Federal Credit Union |
| Charter Number: | 24923 |
|---|---|
| Membership Type: | Multiple common bond - other |
| Corporate Credit Union: | No |
| Year Opened: | 1914 |
| Last Audited: | Dec 01, 2022 |
| FHLB Member: | Yes |
| Low Income Designation: | No |
| Assets: | $2,636,333,411 |
| CEO/Manager: | James C Champion |
| Chairperson: | Mary Heafy |
| ASSETS: | $ Amount |
|---|---|
| Cash & Equivalents | 215,417,616 |
| TOTAL INVESTMENTS | 0 |
| Loans Held for Sale | 210,000 |
| Real Estate Loans | 997,056,167 |
| Unsecured Loans | 46,810,351 |
| Other Loans | 582,304,358 |
| TOTAL LOANS | 1,626,294,970 |
| (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -24,190,575 |
| Land And Building | 24,888,933 |
| Other Fixed Assets | 8,561,085 |
| NCUSIF Deposit | 15,590,992 |
| All Other Assets | 0 |
| TOTAL ASSETS | 2,636,333,411 |
| LIABILITIES & CAPITAL: | |
| Dividends Payable | 5,726,618 |
| Notes & Interest Payable | 518,750,000 |
| Accounts Payable & Other Liabilities | 10,588,782 |
| Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 150,000,000 |
| Share Drafts | 294,785,871 |
| Regular shares | 592,760,610 |
| All Other Shares & Deposits | 966,455,939 |
| TOTAL SHARES & DEPOSITS | 1,854,002,420 |
| TOTAL LIABILITIES | 2,539,067,820 |
| Regular Reserve | 0 |
| Other Reserves | -99,265,252 |
| Undivided Earnings | 196,530,843 |
| TOTAL EQUITY | 97,265,591 |
| TOTAL LIABILITIES, SHARES, & EQUITY | 2,636,333,411 |
| INCOME & EXPENSE | |
| Loan Income | 84,009,963 |
| Investment Income | 25,537,936 |
| Other Income | 8,128,241 |
| Total Employee Compensation & Benefits | 42,725,825 |
| NCUSIF Premiums Expense | 0 |
| Total Other Operating Expenses | 36,155,127 |
| Non-operating Income & (Expense) | 6,895 |
| NCUSIF Stabilization Income | N/A |
| Provision for Loan/Lease Losses or Total Credit Loss Expense | 5,584,488 |
| Cost of Funds | 61,704,947 |
| NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
| Net Income (Loss) | -13,703,602 |
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