Dec, 31, 2023 — WATERFRONT FEDERAL CREDIT UNION is a federal credit union headquartered in SEATTLE, WA with 1 branch location and about $90.31 million in total assets. Opened 60 years ago in 1964, WATERFRONT FEDERAL CREDIT UNION has about 6,819 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) | 6419 Fauntleroy Way SW SEATTLE, WA 98136 |
| Phone: | (206) 622-8415 |
| Fax: | (206) 622-3981 |
| Website: | https://www.waterfrontfcu.org |
| Branches: | 1 branch locations |
| Members: | 6,819 |
| 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, 2022 |
| FHLB Member: | No |
| Low Income Designation: | No |
| Assets: | $90,309,169 |
| CEO/Manager: | Michelle Cropley |
| Chairperson: | Justin Hirsch |
| ASSETS: | $ Amount |
|---|---|
| Cash & Equivalents | 5,279,630 |
| TOTAL INVESTMENTS | 0 |
| Loans Held for Sale | 0 |
| Real Estate Loans | 15,132,554 |
| Unsecured Loans | 9,656,308 |
| Other Loans | 29,764,329 |
| TOTAL LOANS | 54,553,191 |
| (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -189,748 |
| Land And Building | 5,497,498 |
| Other Fixed Assets | 776,901 |
| NCUSIF Deposit | 770,811 |
| All Other Assets | 59,828 |
| TOTAL ASSETS | 90,309,169 |
| LIABILITIES & CAPITAL: | |
| Dividends Payable | 0 |
| Notes & Interest Payable | 0 |
| Accounts Payable & Other Liabilities | 1,140,478 |
| Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
| Share Drafts | 16,208,276 |
| Regular shares | 55,946,581 |
| All Other Shares & Deposits | 9,060,219 |
| TOTAL SHARES & DEPOSITS | 81,215,077 |
| TOTAL LIABILITIES | 82,355,555 |
| Regular Reserve | 0 |
| Other Reserves | -2,922,843 |
| Undivided Earnings | 10,876,457 |
| TOTAL EQUITY | 7,953,614 |
| TOTAL LIABILITIES, SHARES, & EQUITY | 90,309,169 |
| INCOME & EXPENSE | |
| Loan Income | 3,124,435 |
| Investment Income | 612,479 |
| Other Income | 391,621 |
| Total Employee Compensation & Benefits | 1,861,088 |
| NCUSIF Premiums Expense | 0 |
| Total Other Operating Expenses | 1,789,000 |
| Non-operating Income & (Expense) | -6,109 |
| NCUSIF Stabilization Income | N/A |
| Provision for Loan/Lease Losses or Total Credit Loss Expense | 150,637 |
| Cost of Funds | 164,480 |
| NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
| Net Income (Loss) | 813,442 |
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