Dec, 31, 2023 — WAYNE-WESTLAND FEDERAL CREDIT UNION is a federal credit union headquartered in WESTLAND, MI with 1 branch location and about $143.97 million in total assets. Opened 76 years ago in 1948, WAYNE-WESTLAND FEDERAL CREDIT UNION has about 11,016 members and employs 33 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.
Name: | WAYNE-WESTLAND FEDERAL CREDIT UNION |
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Address: (Main Office) | 500 S Wayne Rd WESTLAND, MI 48186-4361 |
Phone: | (734) 721-5700 |
Fax: | (734) 721-5390 |
Website: | https://www.wwfcu.org |
Branches: | 1 branch locations |
Members: | 11,016 |
Credit Union Type: | Federal Credit Union |
Charter Number: | 5928 |
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Membership Type: | Community credit unions, urban or rural, other than those designated 'low income' |
Corporate Credit Union: | No |
Year Opened: | 1948 |
Last Audited: | Apr 01, 2023 |
FHLB Member: | Yes |
Low Income Designation: | No |
Assets: | $143,967,304 |
CEO/Manager: | Joleen Bowman |
Chairperson: | Diane Fritz |
ASSETS: | $ Amount |
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Cash & Equivalents | 15,106,967 |
TOTAL INVESTMENTS | 0 |
Loans Held for Sale | 0 |
Real Estate Loans | 32,416,329 |
Unsecured Loans | 6,428,613 |
Other Loans | 34,080,170 |
TOTAL LOANS | 72,925,113 |
(Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -865,142 |
Land And Building | 2,626,946 |
Other Fixed Assets | 369,911 |
NCUSIF Deposit | 1,341,243 |
All Other Assets | 43,252 |
TOTAL ASSETS | 143,967,304 |
LIABILITIES & CAPITAL: | |
Dividends Payable | 81,906 |
Notes & Interest Payable | 0 |
Accounts Payable & Other Liabilities | 948,926 |
Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
Share Drafts | 27,646,484 |
Regular shares | 65,190,696 |
All Other Shares & Deposits | 42,278,555 |
TOTAL SHARES & DEPOSITS | 135,115,735 |
TOTAL LIABILITIES | 136,146,567 |
Regular Reserve | 0 |
Other Reserves | -6,002,406 |
Undivided Earnings | 13,823,143 |
TOTAL EQUITY | 7,820,737 |
TOTAL LIABILITIES, SHARES, & EQUITY | 143,967,304 |
INCOME & EXPENSE | |
Loan Income | 3,611,264 |
Investment Income | 1,242,667 |
Other Income | 1,642,750 |
Total Employee Compensation & Benefits | 2,257,072 |
NCUSIF Premiums Expense | 0 |
Total Other Operating Expenses | 2,407,861 |
Non-operating Income & (Expense) | 43,610 |
NCUSIF Stabilization Income | N/A |
Provision for Loan/Lease Losses or Total Credit Loss Expense | 249,596 |
Cost of Funds | 402,990 |
NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
Net Income (Loss) | 1,504,683 |
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