Dec, 31, 2023 — NORTH EAST WELCH FEDERAL CREDIT UNION is a federal credit union headquartered in NORTH EAST, PA with 2 branch locations and about $23.11 million in total assets. Opened 71 years ago in 1953, NORTH EAST WELCH FEDERAL CREDIT UNION has about 2,742 members and employs 10 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.
| Name: | NORTH EAST WELCH FEDERAL CREDIT UNION |
|---|---|
| Address: (Main Office) | 115 Clay St NORTH EAST, PA 16428-1537 |
| Phone: | (814) 725-8190 |
| Fax: | (814) 725-7301 |
| Website: | https://www.newelchfcu.com |
| Branches: | 2 branch locations |
| Members: | 2,742 |
| Credit Union Type: | Federal Credit Union |
| Charter Number: | 8687 |
|---|---|
| Membership Type: | Community - Rural District |
| Corporate Credit Union: | No |
| Year Opened: | 1953 |
| Last Audited: | Mar 01, 2023 |
| FHLB Member: | No |
| Low Income Designation: | No |
| Assets: | $23,108,260 |
| CEO/Manager: | Susan M Maas |
| Chairperson: | Howard Barnes |
| ASSETS: | $ Amount |
|---|---|
| Cash & Equivalents | 1,390,591 |
| TOTAL INVESTMENTS | 0 |
| Loans Held for Sale | 0 |
| Real Estate Loans | 3,266,724 |
| Unsecured Loans | 1,442,267 |
| Other Loans | 7,284,522 |
| TOTAL LOANS | 11,993,513 |
| (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -87,919 |
| Land And Building | 195,531 |
| Other Fixed Assets | 24,275 |
| NCUSIF Deposit | 198,019 |
| All Other Assets | 24,064 |
| TOTAL ASSETS | 23,108,260 |
| LIABILITIES & CAPITAL: | |
| Dividends Payable | 27,790 |
| Notes & Interest Payable | 0 |
| Accounts Payable & Other Liabilities | 94,853 |
| Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
| Share Drafts | 3,327,841 |
| Regular shares | 13,922,062 |
| All Other Shares & Deposits | 2,391,454 |
| TOTAL SHARES & DEPOSITS | 19,641,357 |
| TOTAL LIABILITIES | 19,764,000 |
| Regular Reserve | 0 |
| Other Reserves | 392,651 |
| Undivided Earnings | 2,951,609 |
| TOTAL EQUITY | 3,344,260 |
| TOTAL LIABILITIES, SHARES, & EQUITY | 23,108,260 |
| INCOME & EXPENSE | |
| Loan Income | 743,017 |
| Investment Income | 314,331 |
| Other Income | 87,757 |
| Total Employee Compensation & Benefits | 445,037 |
| NCUSIF Premiums Expense | 0 |
| Total Other Operating Expenses | 390,427 |
| Non-operating Income & (Expense) | 4,400 |
| NCUSIF Stabilization Income | N/A |
| Provision for Loan/Lease Losses or Total Credit Loss Expense | 64,244 |
| Cost of Funds | 100,758 |
| NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
| Net Income (Loss) | 305,901 |
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