Dec, 31, 2020 — WIDGET FEDERAL CREDIT UNION is a federal credit union headquartered in ERIE, PA with 7 branch locations and about $376.90 million in total assets. Opened 85 years ago in 1936, WIDGET FEDERAL CREDIT UNION has about 43,379 members and employs 109 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.
| Name: | WIDGET FEDERAL CREDIT UNION |
|---|---|
| Address: (Main Office) | 2154 EAST LAKE ROAD ERIE, PA 16511 |
| Phone: | (814) 456-6231 |
| Fax: | (814) 875-4600 |
| Website: | https://www.widgetfinancial.com |
| Branches: | 7 branch locations |
| Members: | 43,379 |
| Credit Union Type: | Federal Credit Union |
| Charter Number: | 1117 |
|---|---|
| Membership Type: | Community credit unions, urban or rural, other than those designated 'low income' |
| Corporate Credit Union: | No |
| Year Opened: | 1936 |
| Last Audited: | Mar 01, 2020 |
| FHLB Member: | Yes |
| Low Income Designation: | No |
| Assets: | $376,897,834 |
| CEO/Manager: | Gail J Cook |
| Chairperson: | Carl E Palotas, Jr. |
| ASSETS: | $ Amount |
|---|---|
| Cash & Equivalents | 36,351,780 |
| TOTAL INVESTMENTS | 94,108,825 |
| Loans Held for Sale | 217,875 |
| Real Estate Loans | 85,114,082 |
| Unsecured Loans | 27,646,337 |
| Other Loans | 104,616,770 |
| TOTAL LOANS | 217,377,189 |
| (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -1,073,112 |
| Land And Building | 10,210,794 |
| Other Fixed Assets | 1,908,174 |
| NCUSIF Deposit | 3,184,107 |
| All Other Assets | 14,612,202 |
| TOTAL ASSETS | 376,897,834 |
| LIABILITIES & CAPITAL: | |
| Dividends Payable | 0 |
| Notes & Interest Payable | 0 |
| Accounts Payable & Other Liabilities | 2,790,919 |
| Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
| Share Drafts | 103,099,378 |
| Regular shares | 152,676,649 |
| All Other Shares & Deposits | 83,143,907 |
| TOTAL SHARES & DEPOSITS | 338,919,934 |
| TOTAL LIABILITIES | 341,710,853 |
| Regular Reserve | 4,407,473 |
| Other Reserves | 664,277 |
| Undivided Earnings | 30,115,231 |
| TOTAL EQUITY | 35,186,981 |
| TOTAL LIABILITIES, SHARES, & EQUITY | 376,897,834 |
| INCOME & EXPENSE | |
| Loan Income | 8,705,571 |
| Investment Income | 1,629,610 |
| Other Income | 6,098,488 |
| Total Employee Compensation & Benefits | 6,654,382 |
| NCUSIF Premiums Expense | 0 |
| Total Other Operating Expenses | 5,210,840 |
| Non-operating Income & (Expense) | 83 |
| NCUSIF Stabilization Income | N/A |
| Provision for Loan/Lease Losses or Total Credit Loss Expense | 505,801 |
| Cost of Funds | 1,990,988 |
| NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
| Net Income (Loss) | 2,071,741 |
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