Dec, 31, 2023 — WESTERN DIVISION FEDERAL CREDIT UNION is a federal credit union headquartered in WILLIAMSVILLE, NY with 2 branch locations and about $196.76 million in total assets. Opened 87 years ago in 1937, WESTERN DIVISION FEDERAL CREDIT UNION has about 10,090 members and employs 30 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.
| Name: | WESTERN DIVISION FEDERAL CREDIT UNION |
|---|---|
| Address: (Main Office) | 6750 MAIN ST WILLIAMSVILLE, NY 14221 |
| Phone: | (716) 632-9328 |
| Fax: | (716) 632-1383 |
| Website: | https://www.westerndivision.org |
| Branches: | 2 branch locations |
| Members: | 10,090 |
| Credit Union Type: | Federal Credit Union |
| Charter Number: | 24731 |
|---|---|
| Membership Type: | Community credit unions, urban or rural, other than those designated 'low income' |
| Corporate Credit Union: | No |
| Year Opened: | 1937 |
| Last Audited: | Sep 01, 2023 |
| FHLB Member: | Yes |
| Low Income Designation: | No |
| Assets: | $196,756,378 |
| CEO/Manager: | Robert Harms |
| Chairperson: | Paul Jackson |
| ASSETS: | $ Amount |
|---|---|
| Cash & Equivalents | 12,193,502 |
| TOTAL INVESTMENTS | 0 |
| Loans Held for Sale | 0 |
| Real Estate Loans | 68,983,868 |
| Unsecured Loans | 7,017,064 |
| Other Loans | 53,598,987 |
| TOTAL LOANS | 129,599,919 |
| (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -285,306 |
| Land And Building | 650,173 |
| Other Fixed Assets | 492,151 |
| NCUSIF Deposit | 1,522,358 |
| All Other Assets | 5,100 |
| TOTAL ASSETS | 196,756,378 |
| LIABILITIES & CAPITAL: | |
| Dividends Payable | 37 |
| Notes & Interest Payable | 6,000,000 |
| Accounts Payable & Other Liabilities | 650,643 |
| Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
| Share Drafts | 20,281,886 |
| Regular shares | 70,567,874 |
| All Other Shares & Deposits | 71,934,841 |
| TOTAL SHARES & DEPOSITS | 162,784,600 |
| TOTAL LIABILITIES | 169,435,280 |
| Regular Reserve | 0 |
| Other Reserves | 5,074,958 |
| Undivided Earnings | 22,246,140 |
| TOTAL EQUITY | 27,321,098 |
| TOTAL LIABILITIES, SHARES, & EQUITY | 196,756,378 |
| INCOME & EXPENSE | |
| Loan Income | 5,686,863 |
| Investment Income | 1,775,979 |
| Other Income | 231,458 |
| Total Employee Compensation & Benefits | 2,321,153 |
| NCUSIF Premiums Expense | 0 |
| Total Other Operating Expenses | 2,188,928 |
| Non-operating Income & (Expense) | -53,002 |
| NCUSIF Stabilization Income | N/A |
| Provision for Loan/Lease Losses or Total Credit Loss Expense | 274,373 |
| Cost of Funds | 2,375,951 |
| NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
| Net Income (Loss) | 1,029,938 |
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