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National Credit Union Service Organization

WORKERS CREDIT UNION
— Statement of Financial Condition

Then NCUA provides quarterly Call Reports using accounting and statistical information from each credit union. The Call Report includes Balance Sheet, Income Statement and more.

Statement of financial condition for WORKERS CREDIT UNION as of: December 31, 2023.
Charter Number: 24923

ASSETS$ Amount
CASH:  
 1. Cash on Hand 23,513,570
 2. Cash on Deposit (Amounts Deposited in Financial Institutions) 191,904,046
 3. Cash Equivalents (Investments with Original Maturities of Three Months or Less) 0
INVESTMENTS:  
 4. Equity Securities 113,127
 5. Trading Debut Securities 0
 6. Available-for-Sale Debt Securities 645,079,630
 7. Held-to-Maturity Debt Securities 0
 8. Deposits in commercial banks, S&Ls, savings banks 0
 9. Loans to and investments in natural person credit unions 0
 10. Nonperpetual Capital Account 0
 11. Perpetual Contributed Capital 295,099
 12. All other investments in corporate credit unions 0
 13. All other investments 0
 14. TOTAL INVESTMENTS 0
LOANS HELD FOR SALE:  
 15. Loans Held for Sale 210,000
LOANS AND LEASES:  
 16. TOTAL LOANS & LEASES 1,626,294,970
 17. Less: Allowance for Loan & Lease Losses 0
 18: Less: Allowance for Credit Losses on Loans & Leases 24,190,575
OTHER ASSETS:  
 19. Foreclosed and Repossessed Assets 0
 20. Land and Building 24,888,933
 21. Other Fixed Assets 8,561,085
 22. NCUA Share Insurance Capitalization Deposit 15,590,992
 23. Intangible Assets 0
 24. Other Assets 0
25. TOTAL ASSETS 2,636,333,411
LIABILITIES$ Amount
 1. Draws Against Lines of Credit 518,750,000
 2. Other Notes, Promissory Notes and Interest Payable 0
 3. Borrowing Repurchase Transactions 0
 4. Subordinated Debt 150,000,000
 5. Subordinated Debt included in Net Worth 150,000,000
 6. TOTALS 668,750,000
 7. Non-Trading Derivative Liabilities 0
 8. Accrued Dividends & Interest Payable on Shares & Deposits 5,726,618
 9. Accounts Payable and Other Liabilities 10,588,782
 10. Allowance for Credit Losses on Off-Balance Sheet Credit Exposures 0
SHARES/DEPOSITS:  
 11. Share Drafts 294,785,871
 12. Regular Shares 592,760,610
 13. Money Market Shares 90,967,181
 14. Share Certificates 587,133,581
 15. IRA/KEOGH Accounts 55,156,331
 16. All Other Shares 0
 17. TOTAL SHARES 1,620,803,574
 18. Nonmember Deposits 233,198,846
 19. TOTAL SHARES AND DEPOSITS 1,854,002,420
20. TOTAL LIABILITIES  
 21. Accounts Held by Member Public Units 0
 22. Accounts Held by Nonmember Public Units 0
 23. Employee Benefit Member Shares 0
 24. Employee Benefit Nonmember Shares 0
 25. 529 Plan Member Deposits 0
 26. Non-dollar denominated deposits 0
 27. Health Savings Account 0
 28. Dollar Amount of Share Certificates equal to or greater than $100,000 (Excluding brokered share certificates participated out by the broker in shares of less than $100,000) 399,040,206
 29. Dollar Amount of IRA/Keogh Accounts equal to or greater than $100,000 28,138,180
 30. Dollar Amount of Share Drafts Swept to Regular Shares or Money Market Accts as part of Sweep Program 0
 31. Dollar Amount of Commercial Share Accounts 84,330,072
 32. Negative Shares Included in All Other Unsecured Loans/Lines of Credit 284,902
EQUITY:  
 33. Undivided Earnings 196,530,843
 34. Regular Reserves 0
 35. Appropriation for Non-Conforming Investments (State Credit Unions ONLY) 0
 36. Other Reserves.(Appropriations of Undivided Earnings) 0
 37. Equity Acquired in Merger 0
 38. Miscellaneous Equity 0
 39. Other Comprehensive Income (not already included in items 40 - 43) 0
 40. Accumulated Unrealized Net Gains (Losses) on Cash Flow Hedges 0
 41. Accumulated Unrealized Gains (Losses) on Available for Sale Debt Securities -99,265,252
 42. Accumulated Unrealized Losses for OTTI (Due to Other Factors) on HTM Debt Securities 0
 43. Net Income (unless this amount is already included in Undivided Earnings) 0
44. TOTAL LIABILITIES, SHARES, AND EQUITY 2,636,333,411
Statement of Income & Expense$ Amount
INTEREST INCOME YEAR-TO-DATE FOR THE CYCLE  
 1. Interest on Loans (Gross-before interest refunds) 83,978,080
 2. (Less) Interest Refunded -31,883
 3. Income from Investments (Including Interest and Dividends, excluding securities held in a trading account) 25,537,936
 4. Unrealized Gain (Loss) due to change in fair value of Equity and Trading Debt Securities 0
 5. TOTAL INTEREST INCOME 109,547,899
INTEREST EXPENSE YEAR-TO-DATE FOR THE CYCLE  
 6. Dividends on Shares (Includes dividends earned during current period) 41,136,942
 7. Interest on Deposits (Total interest expense for deposit accounts) (State Credit Union ONLY) 0
 8. Interest on Borrowed Money 20,568,005
 9. TOTAL INTEREST EXPENSE 61,704,947
 10. Provision for Loan & Lease Losses 0
 11. Total Credit Loss Expense 5,584,488
 12. NET INTEREST INCOME AFTER PROVISION FOR LOAN AND LEASE LOSSES or CREDIT LOSS EXPENSE 0
NON-INTEREST INCOME YEAR-TO-DATE FOR THE CYCLE  
 13. Fee Income 8,128,241
 14. Other Operating Income (Includes unconsolidated CUSO Income and Gain (Loss) associated with the Hedged Item (NonInvestment Assets) in a Non-Trading, Fair Value (FV) Derivatives Hedge) 0
 15. Gain (Loss) on Equity Securities (DO NOT include Gain (Loss) on other securities) 0
 16. Gain (Loss) on Other Securities (DO NOT include Gain or Loss on Equity Securities) 0
 17. Gain (Loss) on Non-Trading Derivatives 0
 18. Gain (Loss) on Disposition of Fixed Assets 6,895
 19. Gain from Bargain Purchase (Merger) 0
 20. Other Non-operating Income (Expense) 0
 21. TOTAL NON-INTEREST INCOME 22,918,886
NON-INTEREST EXPENSE YEAR-TO-DATE FOR THE CYCLE  
 22. Total Employee Compensation and Benefits 42,725,825
 23. Travel and Conference Expense 628,511
 24. Office Occupancy Expense 4,374,412
 25. Office Operations Expense 17,400,671
 26. Educational and Promotional Expenses 2,417,097
 27. Loan Servicing Expense 5,840,580
 28. Professional and Outside Services 4,056,946
 29. Total Member Insurance 0
 30. Operating Fees (Examination and/or supervision fees) 379,875
 31. Miscellaneous Operating Expenses 1,057,035
 32. TOTAL NON-INTEREST EXPENSE 78,880,952
33. NET INCOME (LOSS) -13,703,602
RESERVE TRANSFERS YEAR-TO-DATE FOR THE CYCLE  
 34. Transfer to Regular Reserves 0
Interest Rate# LoansAmount
Non-Commercial Loans/Lines of Credit
 1. Unsecured Credit Card Loans0.000$0
 2. Payday Alternative Loans (PALs I and PALs II)18.0025$6,496
 3. Non-Federally Guaranteed Student Loans8.40530$18,506,356
 4. All Other Unsecured Loans/Lines of Credit - include SBA PPP loans13.246,971$28,297,499
 5. New Vehicle Loans7.74989$24,376,582
 6. Used Vehicle Loans9.5017,456$217,079,353
 7. Leases Receivable0.000$0
 8. All Other Secured Non-Real Estate Loans/Lines of Credit9.2416,202$326,544,889
 9. Loans/Lines of Credit Secured by a First Lien on a single 1- to 4- Family Residential Property7.003,191$678,408,480
 10. Loans/Lines of Credit Secured by a Junior Lien on a single 1- to 4- Family Residential Property7.253,575$159,051,049
 11. All Other Real Estate Loans/Lines of Credit7.384$124,094
Commercial Loans / Lines of Credit
 12. Commercial Loans/Lines of Credit Real Estate Secured5.2890$159,596,638
 13. Commercial Loans/Lines of Credit Not Real Estate Secured8.0048$14,303,534
 14. TOTAL LOANS & LEASES49,081$1,626,294,970
YEAR-TO-DATE LOAN INFORMATIONNumberAmount
 15. Loans Granted Year-to-Date7,668$186,109,613
  a. Payday Alternative Loans (PALs I and PALs II) Granted Year-to-Date62$23,850
MISCELLANEOUS LOAN INFORMATIONNumberAmount
 16. Non-Federally Guaranteed Student Loans in Deferred Status0$0
 17. Loans Outstanding to Credit Union Officials and Senior Executive Staff3$362,136
GOVERNMENT GUARANTEED LOANSNumberOutstanding BalanceGuaranteed Portion
 18. Non-Commercial Loans  
  a. 1. Small Business Administration9$295,678$49,355
  a. 2. Paycheck Protection Program Loans (Included in 18.a.1.)0$0-
  b. Other Government Guaranteed0$0$0
 19. Commercial Loans  
  a. Small Business Administration23$2,297,814$1,989,131
  b. Other Government Guaranteed0$0$0