Dec, 31, 2023 — WESTBY CO-OP CREDIT UNION is a federally insured state chartered credit union headquartered in WESTBY, WI with 12 branch locations and about $913.24 million in total assets. Opened 85 years ago in 1939, WESTBY CO-OP CREDIT UNION has about 40,856 members and employs 233 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.
| Name: | WESTBY CO-OP CREDIT UNION |
|---|---|
| Address: (Main Office) | 501 N Main St WESTBY, WI 54667 |
| Phone: | (608) 634-3118 |
| Fax: | (608) 634-3148 |
| Website: | https://wccucreditunion.coop |
| Branches: | 12 branch locations |
| Members: | 40,856 |
| Credit Union Type: | Federally Insured State Chartered Credit Union |
| Charter Number: | 67208 |
|---|---|
| Membership Type: | State chartered natural person |
| Corporate Credit Union: | No |
| Year Opened: | 1939 |
| Last Audited: | Jun 01, 2023 |
| FHLB Member: | Yes |
| Low Income Designation: | No |
| Assets: | $913,235,207 |
| CEO/Manager: | CHRIS C BARNICK |
| Chairperson: | MONTE TORGERSON |
| ASSETS: | $ Amount |
|---|---|
| Cash & Equivalents | 56,063,865 |
| TOTAL INVESTMENTS | 0 |
| Loans Held for Sale | 1,934,900 |
| Real Estate Loans | 463,122,093 |
| Unsecured Loans | 19,306,766 |
| Other Loans | 226,846,493 |
| TOTAL LOANS | 710,365,447 |
| (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -6,220,975 |
| Land And Building | 10,017,480 |
| Other Fixed Assets | 2,084,261 |
| NCUSIF Deposit | 6,391,523 |
| All Other Assets | 325,356 |
| TOTAL ASSETS | 913,235,207 |
| LIABILITIES & CAPITAL: | |
| Dividends Payable | 2,629,430 |
| Notes & Interest Payable | 40,000,000 |
| Accounts Payable & Other Liabilities | 7,991,203 |
| Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
| Share Drafts | 193,401,364 |
| Regular shares | 146,352,521 |
| All Other Shares & Deposits | 395,781,189 |
| TOTAL SHARES & DEPOSITS | 735,535,074 |
| TOTAL LIABILITIES | 786,690,991 |
| Regular Reserve | 0 |
| Other Reserves | 35,757,369 |
| Undivided Earnings | 90,786,847 |
| TOTAL EQUITY | 126,544,216 |
| TOTAL LIABILITIES, SHARES, & EQUITY | 913,235,207 |
| INCOME & EXPENSE | |
| Loan Income | 37,575,975 |
| Investment Income | 4,683,970 |
| Other Income | 3,971,686 |
| Total Employee Compensation & Benefits | 16,936,087 |
| NCUSIF Premiums Expense | 0 |
| Total Other Operating Expenses | 11,464,073 |
| Non-operating Income & (Expense) | 1,023,196 |
| NCUSIF Stabilization Income | N/A |
| Provision for Loan/Lease Losses or Total Credit Loss Expense | 2,871,569 |
| Cost of Funds | 13,427,324 |
| NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
| Net Income (Loss) | 7,531,864 |
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