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WIT FEDERAL CREDIT UNION

Dec, 31, 2020 — WIT FEDERAL CREDIT UNION is a federal credit union headquartered in Rochester, NY with 3 branch locations and about $23.16 million in total assets. Opened 59 years ago in 1962, WIT FEDERAL CREDIT UNION has about 3,868 members and employs 11 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.


Name:WIT FEDERAL CREDIT UNION
Address:
(Main Office)
22 4th St
Rochester, NY 14609-6032
Phone:(585) 454-4580
Fax:(585) 454-4610
Website:http://witfcu.com
Branches:3 branch locations
Members:3,868
Credit Union Type:Federal Credit Union
Charter Number:14836
Membership Type:Multiple common bond - Primarily educational
Corporate Credit Union:No
Year Opened:1962
Last Audited:Dec 01, 2019
FHLB Member:No
Low Income Designation:No
Assets:$23,160,804
CEO/Manager:David B Wright
Chairperson:Matthew Shaw, Sr.

Call Report

  • Commercial Loans
  • Credit Builder
  • Overdraft Protection
  • Participation Loans
  • Real Estate Loans
  • Risk Based Loans
  • Share Secured Credit Cards
  • ATM/Debit Card Program
  • Commercial Share Accounts
  • Insurance/Investment Sales

Financial Summary

» See also Statement of Financial Condition
ASSETS:$ Amount
Cash & Equivalents 3,198,427
TOTAL INVESTMENTS 1,722,837
Loans Held for Sale 0
 
 Real Estate Loans 6,526,083
 Unsecured Loans 2,396,711
 Other Loans 8,873,081
 TOTAL LOANS 17,795,875
 (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) -71,846
 Land And Building 167,800
 Other Fixed Assets 47,513
 NCUSIF Deposit 182,045
 All Other Assets 118,153
  TOTAL ASSETS 23,160,804
LIABILITIES & CAPITAL:  
 Dividends Payable 63,682
 Notes & Interest Payable 0
 Accounts Payable & Other Liabilities 1,476
 Uninsured Secondary Capital and Subordinated Debt Included in Net Worth 0
 Share Drafts 3,112,834
 Regular shares 8,384,969
 All Other Shares & Deposits 9,366,868
  TOTAL SHARES & DEPOSITS 20,864,671
  TOTAL LIABILITIES 20,929,829
 Regular Reserve 249,828
 Other Reserves 657,770
 Undivided Earnings 1,323,377
  TOTAL EQUITY 2,230,975
  TOTAL LIABILITIES, SHARES, & EQUITY 23,160,804
INCOME & EXPENSE  
 Loan Income 1,003,208
 Investment Income 38,049
 Other Income 113,043
 Total Employee Compensation & Benefits 565,674
 NCUSIF Premiums Expense 0
 Total Other Operating Expenses 363,192
 Non-operating Income & (Expense) 0
 NCUSIF Stabilization Income N/A
 Provision for Loan/Lease Losses or Total Credit Loss Expense 23,756
 Cost of Funds 121,648
 NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM N/A
Net Income (Loss) 80,030
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