Dec, 31, 2023 — WESTMARK CREDIT UNION is a federally insured state chartered credit union headquartered in IDAHO FALLS, ID with 15 branch locations and about $1.38 billion in total assets. Opened 70 years ago in 1954, WESTMARK CREDIT UNION has about 74,176 members and employs 242 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.
Name: | WESTMARK CREDIT UNION |
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Address: (Main Office) | 2520 Channing Way IDAHO FALLS, ID 83404 |
Phone: | (208) 528-8315 |
Fax: | (208) 528-6403 |
Website: | https://www.westmark.org |
Branches: | 15 branch locations |
Members: | 74,176 |
Credit Union Type: | Federally Insured State Chartered Credit Union |
Charter Number: | 68353 |
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Membership Type: | State chartered natural person |
Corporate Credit Union: | No |
Year Opened: | 1954 |
Last Audited: | Apr 01, 2023 |
FHLB Member: | Yes |
Low Income Designation: | No |
Assets: | $1,379,746,743 |
CEO/Manager: | Mike A Schenck |
Chairperson: | E. Denise Teuscher |
ASSETS: | $ Amount |
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Cash & Equivalents | 68,639,388 |
TOTAL INVESTMENTS | 0 |
Loans Held for Sale | 0 |
Real Estate Loans | 497,946,116 |
Unsecured Loans | 34,903,995 |
Other Loans | 662,316,979 |
TOTAL LOANS | 1,195,167,090 |
(Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -4,049,599 |
Land And Building | 25,987,587 |
Other Fixed Assets | 4,815,179 |
NCUSIF Deposit | 10,741,352 |
All Other Assets | 430,389 |
TOTAL ASSETS | 1,379,746,743 |
LIABILITIES & CAPITAL: | |
Dividends Payable | 3,307,287 |
Notes & Interest Payable | 36,200,000 |
Accounts Payable & Other Liabilities | 16,151,623 |
Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
Share Drafts | 188,411,353 |
Regular shares | 279,713,221 |
All Other Shares & Deposits | 743,147,915 |
TOTAL SHARES & DEPOSITS | 1,211,272,489 |
TOTAL LIABILITIES | 1,266,931,399 |
Regular Reserve | 0 |
Other Reserves | -628,660 |
Undivided Earnings | 113,444,004 |
TOTAL EQUITY | 112,815,344 |
TOTAL LIABILITIES, SHARES, & EQUITY | 1,379,746,743 |
INCOME & EXPENSE | |
Loan Income | 55,067,502 |
Investment Income | 4,653,417 |
Other Income | 4,717,529 |
Total Employee Compensation & Benefits | 22,146,641 |
NCUSIF Premiums Expense | 0 |
Total Other Operating Expenses | 17,334,084 |
Non-operating Income & (Expense) | 124,258 |
NCUSIF Stabilization Income | N/A |
Provision for Loan/Lease Losses or Total Credit Loss Expense | 3,655,130 |
Cost of Funds | 24,450,504 |
NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
Net Income (Loss) | 3,914,823 |
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