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WESTMINSTER FEDERAL CREDIT UNION

Dec, 31, 2020 — WESTMINSTER FEDERAL CREDIT UNION is a federal credit union headquartered in Westminster, CO with 2 branch locations and about $45.65 million in total assets. Opened 61 years ago in 1960, WESTMINSTER FEDERAL CREDIT UNION has about 3,547 members and employs 9 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.


Name:WESTMINSTER FEDERAL CREDIT UNION
Address:
(Main Office)
9053 Harlan St Ste 10
Westminster, CO 80031-2908
Phone:(303) 427-6466
Fax:(303) 427-5116
Website:http://www.wfcu.com
Branches:2 branch locations
Members:3,547
Credit Union Type:Federal Credit Union
Charter Number:13842
Membership Type:Multiple common bond - Primarily federal, state, local government
Corporate Credit Union:No
Year Opened:1960
Last Audited:Aug 01, 2020
FHLB Member:No
Low Income Designation:No
Assets:$45,645,326
CEO/Manager:John C Burke
Chairperson:Harvey G Morris

Call Report

  • Commercial Loans
  • Indirect Consumer Loans
  • Indirect Mortgage Loans
  • Overdraft Lines of Credit
  • Overdraft Protection
  • Participation Loans
  • Real Estate Loans
  • Risk Based Loans
  • ATM/Debit Card Program
  • Commercial Share Accounts
  • Check Cashing
  • Health Savings Accounts
  • Low Cost Wire Transfers

Financial Summary

» See also Statement of Financial Condition
ASSETS:$ Amount
Cash & Equivalents 12,653,513
TOTAL INVESTMENTS 6,447,543
Loans Held for Sale 0
 
 Real Estate Loans 11,754,539
 Unsecured Loans 667,141
 Other Loans 11,490,047
 TOTAL LOANS 23,911,727
 (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) -208,612
 Land And Building 0
 Other Fixed Assets 19,741
 NCUSIF Deposit 348,525
 All Other Assets 2,472,889
  TOTAL ASSETS 45,645,326
LIABILITIES & CAPITAL:  
 Dividends Payable 0
 Notes & Interest Payable 0
 Accounts Payable & Other Liabilities 83,152
 Uninsured Secondary Capital and Subordinated Debt Included in Net Worth 0
 Share Drafts 7,551,985
 Regular shares 20,401,560
 All Other Shares & Deposits 13,629,958
  TOTAL SHARES & DEPOSITS 41,583,503
  TOTAL LIABILITIES 41,666,655
 Regular Reserve 633,659
 Other Reserves 0
 Undivided Earnings 3,345,012
  TOTAL EQUITY 3,978,671
  TOTAL LIABILITIES, SHARES, & EQUITY 45,645,326
INCOME & EXPENSE  
 Loan Income 1,359,120
 Investment Income 132,567
 Other Income 247,897
 Total Employee Compensation & Benefits 689,184
 NCUSIF Premiums Expense 0
 Total Other Operating Expenses 662,355
 Non-operating Income & (Expense) 0
 NCUSIF Stabilization Income N/A
 Provision for Loan/Lease Losses or Total Credit Loss Expense 170,995
 Cost of Funds 163,190
 NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM N/A
Net Income (Loss) 53,860
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