Dec, 31, 2023 — WESTERLY COMMUNITY CREDIT UNION is a federally insured state chartered credit union headquartered in WESTERLY, RI with 5 branch locations and about $468.68 million in total assets. Opened 76 years ago in 1948, WESTERLY COMMUNITY CREDIT UNION has about 22,814 members and employs 77 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.
| Name: | WESTERLY COMMUNITY CREDIT UNION |
|---|---|
| Address: (Main Office) | 122 Granite St WESTERLY, RI 02891 |
| Phone: | (401) 596-7000 |
| Fax: | (401) 596-3819 |
| Website: | https://www.westerlyccu.com |
| Branches: | 5 branch locations |
| Members: | 22,814 |
| Credit Union Type: | Federally Insured State Chartered Credit Union |
| Charter Number: | 67270 |
|---|---|
| Membership Type: | State chartered natural person |
| Corporate Credit Union: | No |
| Year Opened: | 1948 |
| Last Audited: | Dec 01, 2022 |
| FHLB Member: | Yes |
| Low Income Designation: | No |
| Assets: | $468,681,103 |
| CEO/Manager: | Stephen J White |
| Chairperson: | Pete Stefanski |
| ASSETS: | $ Amount |
|---|---|
| Cash & Equivalents | 12,890,076 |
| TOTAL INVESTMENTS | 0 |
| Loans Held for Sale | 0 |
| Real Estate Loans | 213,192,075 |
| Unsecured Loans | 25,036,579 |
| Other Loans | 133,794,878 |
| TOTAL LOANS | 372,051,850 |
| (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -1,445,167 |
| Land And Building | 13,900,582 |
| Other Fixed Assets | 1,560,150 |
| NCUSIF Deposit | 3,916,525 |
| All Other Assets | 0 |
| TOTAL ASSETS | 468,681,103 |
| LIABILITIES & CAPITAL: | |
| Dividends Payable | 97 |
| Notes & Interest Payable | 19,250,000 |
| Accounts Payable & Other Liabilities | 4,617,117 |
| Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
| Share Drafts | 109,289,294 |
| Regular shares | 142,911,758 |
| All Other Shares & Deposits | 156,968,333 |
| TOTAL SHARES & DEPOSITS | 409,169,386 |
| TOTAL LIABILITIES | 433,036,600 |
| Regular Reserve | 0 |
| Other Reserves | -5,577,256 |
| Undivided Earnings | 41,221,759 |
| TOTAL EQUITY | 35,644,503 |
| TOTAL LIABILITIES, SHARES, & EQUITY | 468,681,103 |
| INCOME & EXPENSE | |
| Loan Income | 18,008,605 |
| Investment Income | 1,021,696 |
| Other Income | 2,702,605 |
| Total Employee Compensation & Benefits | 7,287,991 |
| NCUSIF Premiums Expense | 0 |
| Total Other Operating Expenses | 7,178,556 |
| Non-operating Income & (Expense) | 0 |
| NCUSIF Stabilization Income | N/A |
| Provision for Loan/Lease Losses or Total Credit Loss Expense | 1,115,227 |
| Cost of Funds | 5,643,566 |
| NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
| Net Income (Loss) | 1,660,747 |
| ↑ Back to Top | |