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WIDGET FEDERAL CREDIT UNION

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.


ABA Routing Number: 243381117
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.

Call Report

  • Commercial Loans
  • Credit Builder
  • Debt Cancellation/Suspension
  • Indirect Consumer Loans
  • Indirect Mortgage Loans
  • Micro Business Loans
  • Micro Consumer Loans
  • Overdraft Lines of Credit
  • Overdraft Protection
  • Participation Loans
  • Real Estate Loans
  • Risk Based Loans
  • Share Secured Credit Cards
  • ATM/Debit Card Program
  • Commercial Share Accounts
  • Check Cashing
  • First Time Homebuyer Program
  • Health Savings Accounts
  • Insurance/Investment Sales
  • International Remittances
  • Low Cost Wire Transfers

Financial Summary

» See also Statement of Financial Condition
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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