Mar, 31, 2021 — WATERFRONT FEDERAL CREDIT UNION is a federal credit union headquartered in SEATTLE, WA with 1 branch location and about $90.97 million in total assets. Opened 57 years ago in 1964, WATERFRONT FEDERAL CREDIT UNION has about 6,565 members and employs 15 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.
| Name: | WATERFRONT FEDERAL CREDIT UNION |
|---|---|
| Address: (Main Office) | 2414 SW ANDOVER ST STE E100 SEATTLE, WA 98106-1156 |
| Phone: | (206) 622-8415 |
| Fax: | (206) 622-3981 |
| Website: | http://www.waterfrontfcu.org |
| Branches: | 1 branch locations |
| Members: | 6,565 |
| Credit Union Type: | Federal Credit Union |
| Charter Number: | 16178 |
|---|---|
| Membership Type: | Multiple common bond - other |
| Corporate Credit Union: | No |
| Year Opened: | 1964 |
| Last Audited: | Dec 01, 2019 |
| FHLB Member: | No |
| Low Income Designation: | No |
| Assets: | $90,972,121 |
| CEO/Manager: | Michelle Cropley |
| Chairperson: | Justin Hirsch |
| ASSETS: | $ Amount |
|---|---|
| Cash & Equivalents | 16,562,929 |
| TOTAL INVESTMENTS | 26,884,512 |
| Loans Held for Sale | 0 |
| Real Estate Loans | 9,644,241 |
| Unsecured Loans | 6,901,991 |
| Other Loans | 25,254,822 |
| TOTAL LOANS | 41,801,054 |
| (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -187,597 |
| Land And Building | 2,943,941 |
| Other Fixed Assets | 1,633,928 |
| NCUSIF Deposit | 750,704 |
| All Other Assets | 582,650 |
| TOTAL ASSETS | 90,972,121 |
| LIABILITIES & CAPITAL: | |
| Dividends Payable | 0 |
| Notes & Interest Payable | 0 |
| Accounts Payable & Other Liabilities | 672,877 |
| Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
| Share Drafts | 17,666,098 |
| Regular shares | 62,082,654 |
| All Other Shares & Deposits | 2,051,118 |
| TOTAL SHARES & DEPOSITS | 81,799,870 |
| TOTAL LIABILITIES | 82,472,747 |
| Regular Reserve | 1,346,261 |
| Other Reserves | 108,729 |
| Undivided Earnings | 7,044,384 |
| TOTAL EQUITY | 8,499,374 |
| TOTAL LIABILITIES, SHARES, & EQUITY | 90,972,121 |
| INCOME & EXPENSE | |
| Loan Income | 568,440 |
| Investment Income | 123,858 |
| Other Income | 78,194 |
| Total Employee Compensation & Benefits | 382,862 |
| NCUSIF Premiums Expense | 0 |
| Total Other Operating Expenses | 334,897 |
| Non-operating Income & (Expense) | 4,474 |
| NCUSIF Stabilization Income | N/A |
| Provision for Loan/Lease Losses or Total Credit Loss Expense | -4,701 |
| Cost of Funds | 8,721 |
| NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
| Net Income (Loss) | 301,245 |
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