Dec, 31, 2023 — WESTEDGE FEDERAL CREDIT UNION is a federal credit union headquartered in BELLINGHAM, WA with 1 branch location and about $76.32 million in total assets. Opened 72 years ago in 1952, WESTEDGE FEDERAL CREDIT UNION has about 4,247 members and employs 13 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.
| Name: | WESTEDGE FEDERAL CREDIT UNION |
|---|---|
| Address: (Main Office) | 2501 James St BELLINGHAM, WA 98225-3529 |
| Phone: | (360) 734-5790 |
| Fax: | (360) 734-9249 |
| Website: | https://www.westedgecu.org |
| Branches: | 1 branch locations |
| Members: | 4,247 |
| Credit Union Type: | Federal Credit Union |
| Charter Number: | 8113 |
|---|---|
| Membership Type: | Community credit unions, urban or rural, other than those designated 'low income' |
| Corporate Credit Union: | No |
| Year Opened: | 1952 |
| Last Audited: | Nov 01, 2023 |
| FHLB Member: | No |
| Low Income Designation: | No |
| Assets: | $76,316,878 |
| CEO/Manager: | Kayrene Zowada |
| Chairperson: | Peter Border |
| ASSETS: | $ Amount |
|---|---|
| Cash & Equivalents | 2,591,759 |
| TOTAL INVESTMENTS | 0 |
| Loans Held for Sale | 0 |
| Real Estate Loans | 12,365,921 |
| Unsecured Loans | 6,081,583 |
| Other Loans | 16,901,095 |
| TOTAL LOANS | 35,348,599 |
| (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -243,681 |
| Land And Building | 513,902 |
| Other Fixed Assets | 84,261 |
| NCUSIF Deposit | 680,325 |
| All Other Assets | 5,000 |
| TOTAL ASSETS | 76,316,878 |
| LIABILITIES & CAPITAL: | |
| Dividends Payable | 0 |
| Notes & Interest Payable | 0 |
| Accounts Payable & Other Liabilities | -18,112 |
| Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
| Share Drafts | 12,952,200 |
| Regular shares | 29,277,854 |
| All Other Shares & Deposits | 22,754,251 |
| TOTAL SHARES & DEPOSITS | 64,984,303 |
| TOTAL LIABILITIES | 64,966,191 |
| Regular Reserve | 0 |
| Other Reserves | -388,678 |
| Undivided Earnings | 11,739,365 |
| TOTAL EQUITY | 11,350,687 |
| TOTAL LIABILITIES, SHARES, & EQUITY | 76,316,878 |
| INCOME & EXPENSE | |
| Loan Income | 1,920,522 |
| Investment Income | 644,811 |
| Other Income | 195,327 |
| Total Employee Compensation & Benefits | 1,177,059 |
| NCUSIF Premiums Expense | 0 |
| Total Other Operating Expenses | 1,084,559 |
| Non-operating Income & (Expense) | -16,729 |
| NCUSIF Stabilization Income | N/A |
| Provision for Loan/Lease Losses or Total Credit Loss Expense | 86,050 |
| Cost of Funds | 195,651 |
| NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
| Net Income (Loss) | 748,805 |
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