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 |
|---|---|
| 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 |
|---|---|
| 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 |
|---|---|
| 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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