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W S S C FEDERAL CREDIT UNION

Dec, 31, 2023 — W S S C FEDERAL CREDIT UNION is a federal credit union headquartered in LAUREL, MD with 2 branch locations and about $34.36 million in total assets. Opened 60 years ago in 1964, W S S C FEDERAL CREDIT UNION has about 3,462 members and employs 7 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.


Name:W S S C FEDERAL CREDIT UNION
Address:
(Main Office)
14501 Sweitzer Ln
LAUREL, MD 20707
Phone:(240) 459-8005
Fax:(301) 206-8481
Website:https://www.wsscfcu.org
Branches:2 branch locations
Members:3,462
Credit Union Type:Federal Credit Union
Charter Number:16268
Membership Type:Multiple common bond - Primarily communications and utilities
Corporate Credit Union:No
Year Opened:1964
Last Audited:Sep 01, 2023
FHLB Member:No
Low Income Designation:No
Assets:$34,358,209
CEO/Manager:Jeffrey S Goff
Chairperson:Mark Brackett

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Financial Summary

» See also Statement of Financial Condition
ASSETS:$ Amount
Cash & Equivalents 1,535,722
TOTAL INVESTMENTS 0
Loans Held for Sale 0
 
 Real Estate Loans 5,063,901
 Unsecured Loans 5,030,279
 Other Loans 10,751,426
 TOTAL LOANS 20,845,606
 (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) -322,647
 Land And Building 0
 Other Fixed Assets 170,270
 NCUSIF Deposit 308,150
 All Other Assets 0
  TOTAL ASSETS 34,358,209
LIABILITIES & CAPITAL:  
 Dividends Payable 0
 Notes & Interest Payable 0
 Accounts Payable & Other Liabilities 119,863
 Uninsured Secondary Capital and Subordinated Debt Included in Net Worth 0
 Share Drafts 3,984,574
 Regular shares 21,304,632
 All Other Shares & Deposits 6,030,969
  TOTAL SHARES & DEPOSITS 31,320,174
  TOTAL LIABILITIES 31,440,037
 Regular Reserve 0
 Other Reserves -61,102
 Undivided Earnings 2,979,274
  TOTAL EQUITY 2,918,172
  TOTAL LIABILITIES, SHARES, & EQUITY 34,358,209
INCOME & EXPENSE  
 Loan Income 1,402,780
 Investment Income 390,180
 Other Income 284,719
 Total Employee Compensation & Benefits 727,443
 NCUSIF Premiums Expense 0
 Total Other Operating Expenses 966,571
 Non-operating Income & (Expense) 0
 NCUSIF Stabilization Income N/A
 Provision for Loan/Lease Losses or Total Credit Loss Expense 162,542
 Cost of Funds 140,262
 NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM N/A
Net Income (Loss) 148,644
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