Dec, 31, 2021 — WATERFRONT FEDERAL CREDIT UNION is a federal credit union headquartered in SEATTLE, WA with 1 branch location and about $93.79 million in total assets. Opened 58 years ago in 1964, WATERFRONT FEDERAL CREDIT UNION has about 6,706 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 |
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Address: (Main Office) | 6419 Fauntleroy Way SW SEATTLE, WA 98136 |
Phone: | (206) 622-8415 |
Fax: | (206) 622-3981 |
Website: | http://www.waterfrontfcu.org |
Branches: | 1 branch locations |
Members: | 6,706 |
Credit Union Type: | Federal Credit Union |
Charter Number: | 16178 |
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Membership Type: | Multiple common bond - other |
Corporate Credit Union: | No |
Year Opened: | 1964 |
Last Audited: | Mar 01, 2021 |
FHLB Member: | No |
Low Income Designation: | No |
Assets: | $93,794,568 |
CEO/Manager: | Michelle Cropley |
Chairperson: | Justin Hirsch |
ASSETS: | $ Amount |
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Cash & Equivalents | 7,825,135 |
TOTAL INVESTMENTS | 31,123,103 |
Loans Held for Sale | 0 |
Real Estate Loans | 13,038,736 |
Unsecured Loans | 7,570,761 |
Other Loans | 26,543,214 |
TOTAL LOANS | 47,152,711 |
(Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -211,519 |
Land And Building | 5,671,299 |
Other Fixed Assets | 952,614 |
NCUSIF Deposit | 779,862 |
All Other Assets | 501,363 |
TOTAL ASSETS | 93,794,568 |
LIABILITIES & CAPITAL: | |
Dividends Payable | 0 |
Notes & Interest Payable | 0 |
Accounts Payable & Other Liabilities | 929,983 |
Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
Share Drafts | 18,456,139 |
Regular shares | 63,946,638 |
All Other Shares & Deposits | 1,594,867 |
TOTAL SHARES & DEPOSITS | 83,997,644 |
TOTAL LIABILITIES | 84,927,627 |
Regular Reserve | 1,346,261 |
Other Reserves | -215,490 |
Undivided Earnings | 7,736,170 |
TOTAL EQUITY | 8,866,941 |
TOTAL LIABILITIES, SHARES, & EQUITY | 93,794,568 |
INCOME & EXPENSE | |
Loan Income | 2,282,355 |
Investment Income | 544,219 |
Other Income | 354,787 |
Total Employee Compensation & Benefits | 1,513,536 |
NCUSIF Premiums Expense | 0 |
Total Other Operating Expenses | 1,497,953 |
Non-operating Income & (Expense) | -1,871 |
NCUSIF Stabilization Income | N/A |
Provision for Loan/Lease Losses or Total Credit Loss Expense | 20,225 |
Cost of Funds | 36,112 |
NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
Net Income (Loss) | 993,031 |
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