Dec, 31, 2023 — TAPCO CREDIT UNION is a federally insured state chartered credit union headquartered in FIRCREST, WA with 6 branch locations and about $653.07 million in total assets. Opened 90 years ago in 1934, TAPCO CREDIT UNION has about 30,191 members and employs 97 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.
| Name: | TAPCO CREDIT UNION |
|---|---|
| Address: (Main Office) | 6312 19th St W FIRCREST, WA 98466-6226 |
| Phone: | (253) 565-9895 |
| Fax: | (253) 565-4748 |
| Website: | https://www.tapcocu.org |
| Branches: | 6 branch locations |
| Members: | 30,191 |
| Credit Union Type: | Federally Insured State Chartered Credit Union |
| Charter Number: | 68298 |
|---|---|
| Membership Type: | State chartered natural person |
| Corporate Credit Union: | No |
| Year Opened: | 1934 |
| Last Audited: | Sep 01, 2023 |
| FHLB Member: | Yes |
| Low Income Designation: | No |
| Assets: | $653,069,678 |
| CEO/Manager: | Justin W Martin |
| Chairperson: | Pat McElligott |
| ASSETS: | $ Amount |
|---|---|
| Cash & Equivalents | 29,813,606 |
| TOTAL INVESTMENTS | 0 |
| Loans Held for Sale | 0 |
| Real Estate Loans | 246,984,226 |
| Unsecured Loans | 17,346,843 |
| Other Loans | 275,742,475 |
| TOTAL LOANS | 540,073,544 |
| (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -3,182,936 |
| Land And Building | 8,593,468 |
| Other Fixed Assets | 3,145,554 |
| NCUSIF Deposit | 5,209,394 |
| All Other Assets | 34,217 |
| TOTAL ASSETS | 653,069,678 |
| LIABILITIES & CAPITAL: | |
| Dividends Payable | 1,773,556 |
| Notes & Interest Payable | 34,999,999 |
| Accounts Payable & Other Liabilities | 5,458,242 |
| Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
| Share Drafts | 104,249,075 |
| Regular shares | 231,519,036 |
| All Other Shares & Deposits | 222,614,106 |
| TOTAL SHARES & DEPOSITS | 558,382,217 |
| TOTAL LIABILITIES | 600,614,014 |
| Regular Reserve | 0 |
| Other Reserves | -2,362,741 |
| Undivided Earnings | 54,818,405 |
| TOTAL EQUITY | 52,455,664 |
| TOTAL LIABILITIES, SHARES, & EQUITY | 653,069,678 |
| INCOME & EXPENSE | |
| Loan Income | 24,250,122 |
| Investment Income | 2,670,861 |
| Other Income | 1,849,814 |
| Total Employee Compensation & Benefits | 10,566,664 |
| NCUSIF Premiums Expense | 0 |
| Total Other Operating Expenses | 8,448,019 |
| Non-operating Income & (Expense) | 9,635 |
| NCUSIF Stabilization Income | N/A |
| Provision for Loan/Lease Losses or Total Credit Loss Expense | 1,069,630 |
| Cost of Funds | 7,991,533 |
| NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
| Net Income (Loss) | 4,300,497 |
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