Dec, 31, 2023 — WHATCOM EDUCATIONAL CREDIT UNION is a federally insured state chartered credit union headquartered in BELLINGHAM, WA with 12 branch locations and about $2.77 billion in total assets. Opened 88 years ago in 1936, WHATCOM EDUCATIONAL CREDIT UNION has about 157,610 members and employs 429 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.
Name: | WHATCOM EDUCATIONAL CREDIT UNION |
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Address: (Main Office) | 21 Bellwether Way Ste 111 BELLINGHAM, WA 98225 |
Phone: | (800) 525-8703 |
Fax: | (360) 756-7800 |
Website: | https://www.wecu.com |
Branches: | 12 branch locations |
Members: | 157,610 |
Credit Union Type: | Federally Insured State Chartered Credit Union |
Charter Number: | 66373 |
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Membership Type: | State chartered natural person |
Corporate Credit Union: | No |
Year Opened: | 1936 |
Last Audited: | Dec 01, 2022 |
FHLB Member: | Yes |
Low Income Designation: | No |
Assets: | $2,766,280,343 |
CEO/Manager: | Jennifer Kutcher |
Chairperson: | Kristi L Tyran |
ASSETS: | $ Amount |
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Cash & Equivalents | 312,166,627 |
TOTAL INVESTMENTS | 0 |
Loans Held for Sale | 2,302,310 |
Real Estate Loans | 1,316,429,429 |
Unsecured Loans | 83,855,675 |
Other Loans | 739,808,127 |
TOTAL LOANS | 2,140,093,231 |
(Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -13,612,591 |
Land And Building | 62,363,805 |
Other Fixed Assets | 3,413,892 |
NCUSIF Deposit | 19,866,093 |
All Other Assets | 818,499 |
TOTAL ASSETS | 2,766,280,343 |
LIABILITIES & CAPITAL: | |
Dividends Payable | 307 |
Notes & Interest Payable | 172,000,000 |
Accounts Payable & Other Liabilities | 33,357,241 |
Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
Share Drafts | 508,565,973 |
Regular shares | 1,088,286,980 |
All Other Shares & Deposits | 628,091,579 |
TOTAL SHARES & DEPOSITS | 2,224,944,532 |
TOTAL LIABILITIES | 2,430,302,080 |
Regular Reserve | 0 |
Other Reserves | -6,962,032 |
Undivided Earnings | 342,940,295 |
TOTAL EQUITY | 335,978,263 |
TOTAL LIABILITIES, SHARES, & EQUITY | 2,766,280,343 |
INCOME & EXPENSE | |
Loan Income | 86,849,195 |
Investment Income | 25,372,140 |
Other Income | 10,102,641 |
Total Employee Compensation & Benefits | 43,406,339 |
NCUSIF Premiums Expense | 0 |
Total Other Operating Expenses | 36,905,125 |
Non-operating Income & (Expense) | 138,758 |
NCUSIF Stabilization Income | N/A |
Provision for Loan/Lease Losses or Total Credit Loss Expense | 5,338,718 |
Cost of Funds | 36,893,785 |
NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
Net Income (Loss) | 19,872,995 |
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