Dec, 31, 2023 — WATERFRONT FEDERAL CREDIT UNION is a federal credit union headquartered in SEATTLE, WA with 1 branch location and about $90.31 million in total assets. Opened 60 years ago in 1964, WATERFRONT FEDERAL CREDIT UNION has about 6,819 members and employs 15 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.
Name: | WATERFRONT FEDERAL CREDIT UNION |
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Address: (Main Office) | 6419 Fauntleroy Way SW SEATTLE, WA 98136 |
Phone: | (206) 622-8415 |
Fax: | (206) 622-3981 |
Website: | https://www.waterfrontfcu.org |
Branches: | 1 branch locations |
Members: | 6,819 |
Credit Union Type: | Federal Credit Union |
Charter Number: | 16178 |
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Membership Type: | Multiple common bond - other |
Corporate Credit Union: | No |
Year Opened: | 1964 |
Last Audited: | Dec 01, 2022 |
FHLB Member: | No |
Low Income Designation: | No |
Assets: | $90,309,169 |
CEO/Manager: | Michelle Cropley |
Chairperson: | Justin Hirsch |
ASSETS: | $ Amount |
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Cash & Equivalents | 5,279,630 |
TOTAL INVESTMENTS | 0 |
Loans Held for Sale | 0 |
Real Estate Loans | 15,132,554 |
Unsecured Loans | 9,656,308 |
Other Loans | 29,764,329 |
TOTAL LOANS | 54,553,191 |
(Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -189,748 |
Land And Building | 5,497,498 |
Other Fixed Assets | 776,901 |
NCUSIF Deposit | 770,811 |
All Other Assets | 59,828 |
TOTAL ASSETS | 90,309,169 |
LIABILITIES & CAPITAL: | |
Dividends Payable | 0 |
Notes & Interest Payable | 0 |
Accounts Payable & Other Liabilities | 1,140,478 |
Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
Share Drafts | 16,208,276 |
Regular shares | 55,946,581 |
All Other Shares & Deposits | 9,060,219 |
TOTAL SHARES & DEPOSITS | 81,215,077 |
TOTAL LIABILITIES | 82,355,555 |
Regular Reserve | 0 |
Other Reserves | -2,922,843 |
Undivided Earnings | 10,876,457 |
TOTAL EQUITY | 7,953,614 |
TOTAL LIABILITIES, SHARES, & EQUITY | 90,309,169 |
INCOME & EXPENSE | |
Loan Income | 3,124,435 |
Investment Income | 612,479 |
Other Income | 391,621 |
Total Employee Compensation & Benefits | 1,861,088 |
NCUSIF Premiums Expense | 0 |
Total Other Operating Expenses | 1,789,000 |
Non-operating Income & (Expense) | -6,109 |
NCUSIF Stabilization Income | N/A |
Provision for Loan/Lease Losses or Total Credit Loss Expense | 150,637 |
Cost of Funds | 164,480 |
NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
Net Income (Loss) | 813,442 |
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