Jun, 30, 2024 — WESTMINSTER FEDERAL CREDIT UNION is a federal credit union headquartered in WESTMINSTER, CO with 2 branch locations and about $54.22 million in total assets. Opened 65 years ago in 1960, WESTMINSTER FEDERAL CREDIT UNION has about 3,536 members and employs 8 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: | https://www.wfcu.com |
| Branches: | 2 branch locations |
| Members: | 3,536 |
| 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, 2022 |
| FHLB Member: | No |
| Low Income Designation: | No |
| Assets: | $54,222,895 |
| CEO/Manager: | Megan K Thomas |
| Chairperson: | Harvey G Morris |
| ASSETS: | $ Amount |
|---|---|
| Cash & Equivalents | 15,334,024 |
| TOTAL INVESTMENTS | 0 |
| Loans Held for Sale | 0 |
| Real Estate Loans | 11,889,983 |
| Unsecured Loans | 497,594 |
| Other Loans | 12,558,146 |
| TOTAL LOANS | 24,945,723 |
| (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -94,169 |
| Land And Building | 0 |
| Other Fixed Assets | 112,139 |
| NCUSIF Deposit | 444,612 |
| All Other Assets | 0 |
| TOTAL ASSETS | 54,222,895 |
| LIABILITIES & CAPITAL: | |
| Dividends Payable | 0 |
| Notes & Interest Payable | 0 |
| Accounts Payable & Other Liabilities | 229,767 |
| Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
| Share Drafts | 10,179,128 |
| Regular shares | 24,774,619 |
| All Other Shares & Deposits | 14,906,584 |
| TOTAL SHARES & DEPOSITS | 49,860,331 |
| TOTAL LIABILITIES | 50,090,098 |
| Regular Reserve | 0 |
| Other Reserves | 0 |
| Undivided Earnings | 4,132,797 |
| TOTAL EQUITY | 4,132,797 |
| TOTAL LIABILITIES, SHARES, & EQUITY | 54,222,895 |
| INCOME & EXPENSE | |
| Loan Income | 848,673 |
| Investment Income | 206,260 |
| Other Income | 130,568 |
| Total Employee Compensation & Benefits | 530,971 |
| NCUSIF Premiums Expense | 0 |
| Total Other Operating Expenses | 728,975 |
| Non-operating Income & (Expense) | 0 |
| NCUSIF Stabilization Income | N/A |
| Provision for Loan/Lease Losses or Total Credit Loss Expense | 314 |
| Cost of Funds | 76,605 |
| NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
| Net Income (Loss) | 30,201 |
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