Dec, 31, 2023 — WATER'S EDGE FEDERAL CREDIT UNION is a federal credit union headquartered in BILOXI, MS with 1 branch location and about $6.15 million in total assets. Opened 71 years ago in 1953, WATER'S EDGE FEDERAL CREDIT UNION has about 741 members offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.
| Name: | WATER'S EDGE FEDERAL CREDIT UNION |
|---|---|
| Address: (Main Office) | 1976 Popps Ferry Rd BILOXI, MS 39532 |
| Phone: | (228) 896-0038 |
| Fax: | (228) 896-4275 |
| Website: | https://watersedgefcu.com |
| Branches: | 1 branch locations |
| Members: | 741 |
| Credit Union Type: | Federal Credit Union |
| Charter Number: | 8593 |
|---|---|
| Membership Type: | Federal, State, Local Government |
| Corporate Credit Union: | No |
| Year Opened: | 1953 |
| Last Audited: | Nov 01, 2023 |
| FHLB Member: | No |
| Low Income Designation: | No |
| Assets: | $6,151,109 |
| CEO/Manager: | Amy L Olier |
| Chairperson: | Nanette Butts |
| ASSETS: | $ Amount |
|---|---|
| Cash & Equivalents | 217,004 |
| TOTAL INVESTMENTS | 0 |
| Loans Held for Sale | 0 |
| Real Estate Loans | 0 |
| Unsecured Loans | 264,862 |
| Other Loans | 3,337,308 |
| TOTAL LOANS | 3,602,170 |
| (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -45,000 |
| Land And Building | 316,342 |
| Other Fixed Assets | 0 |
| NCUSIF Deposit | 50,249 |
| All Other Assets | 0 |
| TOTAL ASSETS | 6,151,109 |
| LIABILITIES & CAPITAL: | |
| Dividends Payable | 67,452 |
| Notes & Interest Payable | 350,000 |
| Accounts Payable & Other Liabilities | -2,366 |
| Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
| Share Drafts | 0 |
| Regular shares | 2,037,033 |
| All Other Shares & Deposits | 3,280,926 |
| TOTAL SHARES & DEPOSITS | 5,317,959 |
| TOTAL LIABILITIES | 5,733,045 |
| Regular Reserve | 0 |
| Other Reserves | 0 |
| Undivided Earnings | 418,064 |
| TOTAL EQUITY | 418,064 |
| TOTAL LIABILITIES, SHARES, & EQUITY | 6,151,109 |
| INCOME & EXPENSE | |
| Loan Income | 274,086 |
| Investment Income | 73,042 |
| Other Income | 6,101 |
| Total Employee Compensation & Benefits | 147,363 |
| NCUSIF Premiums Expense | 0 |
| Total Other Operating Expenses | 109,923 |
| Non-operating Income & (Expense) | 0 |
| NCUSIF Stabilization Income | N/A |
| Provision for Loan/Lease Losses or Total Credit Loss Expense | 26 |
| Cost of Funds | 109,579 |
| NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
| Net Income (Loss) | -2,804 |
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