Dec, 31, 2023 — WIDGET FEDERAL CREDIT UNION is a federal credit union headquartered in ERIE, PA with 8 branch locations and about $427.51 million in total assets. Opened 88 years ago in 1936, WIDGET FEDERAL CREDIT UNION has about 46,884 members and employs 111 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.
| Name: | WIDGET FEDERAL CREDIT UNION |
|---|---|
| Address: (Main Office) | 2154 E Lake Rd ERIE, PA 16511-1140 |
| Phone: | (814) 456-6231 |
| Fax: | (814) 875-4600 |
| Website: | https://www.widgetfinancial.com |
| Branches: | 8 branch locations |
| Members: | 46,884 |
| Credit Union Type: | Federal Credit Union |
| Charter Number: | 1117 |
|---|---|
| Membership Type: | Community credit unions, urban or rural, other than those designated 'low income' |
| Corporate Credit Union: | No |
| Year Opened: | 1936 |
| Last Audited: | Mar 01, 2023 |
| FHLB Member: | Yes |
| Low Income Designation: | No |
| Assets: | $427,511,761 |
| CEO/Manager: | Matthew T Margosian |
| Chairperson: | Marko Jovanovich |
| ASSETS: | $ Amount |
|---|---|
| Cash & Equivalents | 29,489,531 |
| TOTAL INVESTMENTS | 0 |
| Loans Held for Sale | 0 |
| Real Estate Loans | 89,509,775 |
| Unsecured Loans | 24,104,385 |
| Other Loans | 125,743,028 |
| TOTAL LOANS | 239,357,189 |
| (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -1,324,543 |
| Land And Building | 9,297,770 |
| Other Fixed Assets | 1,626,140 |
| NCUSIF Deposit | 3,831,895 |
| All Other Assets | 0 |
| TOTAL ASSETS | 427,511,761 |
| LIABILITIES & CAPITAL: | |
| Dividends Payable | 0 |
| Notes & Interest Payable | 0 |
| Accounts Payable & Other Liabilities | 3,303,994 |
| Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
| Share Drafts | 111,044,418 |
| Regular shares | 160,811,800 |
| All Other Shares & Deposits | 114,580,522 |
| TOTAL SHARES & DEPOSITS | 386,436,739 |
| TOTAL LIABILITIES | 389,740,733 |
| Regular Reserve | 0 |
| Other Reserves | -4,793,837 |
| Undivided Earnings | 42,564,865 |
| TOTAL EQUITY | 37,771,028 |
| TOTAL LIABILITIES, SHARES, & EQUITY | 427,511,761 |
| INCOME & EXPENSE | |
| Loan Income | 11,014,490 |
| Investment Income | 2,970,923 |
| Other Income | 3,720,823 |
| Total Employee Compensation & Benefits | 8,117,561 |
| NCUSIF Premiums Expense | 0 |
| Total Other Operating Expenses | 6,839,130 |
| Non-operating Income & (Expense) | -11,856 |
| NCUSIF Stabilization Income | N/A |
| Provision for Loan/Lease Losses or Total Credit Loss Expense | 1,082,719 |
| Cost of Funds | 3,328,286 |
| NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
| Net Income (Loss) | 2,798,246 |
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