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National Credit Union Service Organization

LONGSHORE FEDERAL CREDIT UNION

Dec, 31, 2020 — LONGSHORE FEDERAL CREDIT UNION is a federal credit union headquartered in HOQUIAM, WA with 1 branch location and about $7.64 million in total assets. Opened 61 years ago in 1960, LONGSHORE FEDERAL CREDIT UNION has about 457 members and employs 3 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.


Name:LONGSHORE FEDERAL CREDIT UNION
Address:
(Main Office)
3107 JOHN STEVENS WAY
HOQUIAM, WA 98550
Phone:(360) 532-9224
Fax:(360) 532-9229
Website:http://www.longshorefcu.com
Branches:1 branch locations
Members:457
Credit Union Type:Federal Credit Union
Charter Number:13857
Membership Type:Community credit unions, urban or rural, other than those designated 'low income'
Corporate Credit Union:No
Year Opened:1960
Last Audited:Oct 01, 2020
FHLB Member:No
Low Income Designation:No
Assets:$7,636,693
CEO/Manager:Ruth A Bryson
Chairperson:David Cox

Call Report

  • Micro Consumer Loans
  • Risk Based Loans
  • ATM/Debit Card Program
  • Check Cashing
  • Low Cost Wire Transfers

Financial Summary

» See also Statement of Financial Condition
ASSETS:$ Amount
Cash & Equivalents 1,918,564
TOTAL INVESTMENTS 2,401,867
Loans Held for Sale 0
 
 Real Estate Loans 0
 Unsecured Loans 580,912
 Other Loans 2,639,466
 TOTAL LOANS 3,220,378
 (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) -23,000
 Land And Building 0
 Other Fixed Assets 33,468
 NCUSIF Deposit 58,765
 All Other Assets 26,651
  TOTAL ASSETS 7,636,693
LIABILITIES & CAPITAL:  
 Dividends Payable 0
 Notes & Interest Payable 0
 Accounts Payable & Other Liabilities 120,570
 Uninsured Secondary Capital and Subordinated Debt Included in Net Worth 0
 Share Drafts 1,169,318
 Regular shares 5,357,724
 All Other Shares & Deposits 400,795
  TOTAL SHARES & DEPOSITS 6,927,837
  TOTAL LIABILITIES 7,048,407
 Regular Reserve 85,025
 Other Reserves 0
 Undivided Earnings 503,261
  TOTAL EQUITY 588,286
  TOTAL LIABILITIES, SHARES, & EQUITY 7,636,693
INCOME & EXPENSE  
 Loan Income 192,844
 Investment Income 56,849
 Other Income 41,893
 Total Employee Compensation & Benefits 167,035
 NCUSIF Premiums Expense 0
 Total Other Operating Expenses 94,764
 Non-operating Income & (Expense) 14,599
 NCUSIF Stabilization Income N/A
 Provision for Loan/Lease Losses or Total Credit Loss Expense -14,535
 Cost of Funds 1,566
 NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM N/A
Net Income (Loss) 57,355
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