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WIT FEDERAL CREDIT UNION

Mar, 31, 2021 — WIT FEDERAL CREDIT UNION is a federal credit union headquartered in Rochester, NY with 3 branch locations and about $24.12 million in total assets. Opened 59 years ago in 1962, WIT FEDERAL CREDIT UNION has about 3,875 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:3,875
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:$24,119,794
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 3,758,667
TOTAL INVESTMENTS 2,370,837
Loans Held for Sale 0
 
 Real Estate Loans 6,302,864
 Unsecured Loans 2,197,892
 Other Loans 9,035,759
 TOTAL LOANS 17,536,515
 (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) -53,251
 Land And Building 167,350
 Other Fixed Assets 44,635
 NCUSIF Deposit 182,044
 All Other Assets 112,997
  TOTAL ASSETS 24,119,794
LIABILITIES & CAPITAL:  
 Dividends Payable 55,733
 Notes & Interest Payable 0
 Accounts Payable & Other Liabilities -29,981
 Uninsured Secondary Capital and Subordinated Debt Included in Net Worth 0
 Share Drafts 3,455,862
 Regular shares 9,114,903
 All Other Shares & Deposits 9,203,244
  TOTAL SHARES & DEPOSITS 21,774,009
  TOTAL LIABILITIES 21,799,761
 Regular Reserve 249,828
 Other Reserves 655,970
 Undivided Earnings 1,414,235
  TOTAL EQUITY 2,320,033
  TOTAL LIABILITIES, SHARES, & EQUITY 24,119,794
INCOME & EXPENSE  
 Loan Income 243,747
 Investment Income 8,615
 Other Income 26,682
 Total Employee Compensation & Benefits 145,201
 NCUSIF Premiums Expense 0
 Total Other Operating Expenses 87,743
 Non-operating Income & (Expense) 0
 NCUSIF Stabilization Income N/A
 Provision for Loan/Lease Losses or Total Credit Loss Expense -25,792
 Cost of Funds 23,249
 NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM N/A
Net Income (Loss) 89,059
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