Dec, 31, 2020 — WATERFRONT FEDERAL CREDIT UNION is a federal credit union headquartered in SEATTLE, WA with 1 branch location and about $87.56 million in total assets. Opened 57 years ago in 1964, WATERFRONT FEDERAL CREDIT UNION has about 6,568 members and employs 14 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: | 6,568 |
| 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: | $87,563,649 |
| CEO/Manager: | Michelle Cropley |
| Chairperson: | Justin Hirsch |
| ASSETS: | $ Amount |
|---|---|
| Cash & Equivalents | 11,505,034 |
| TOTAL INVESTMENTS | 28,417,194 |
| Loans Held for Sale | 0 |
| Real Estate Loans | 9,807,127 |
| Unsecured Loans | 7,268,375 |
| Other Loans | 25,938,472 |
| TOTAL LOANS | 43,013,974 |
| (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -194,718 |
| Land And Building | 2,949,135 |
| Other Fixed Assets | 680,981 |
| NCUSIF Deposit | 708,679 |
| All Other Assets | 483,370 |
| TOTAL ASSETS | 87,563,649 |
| LIABILITIES & CAPITAL: | |
| Dividends Payable | 0 |
| Notes & Interest Payable | 0 |
| Accounts Payable & Other Liabilities | 680,160 |
| Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
| Share Drafts | 17,176,468 |
| Regular shares | 59,203,751 |
| All Other Shares & Deposits | 1,914,884 |
| TOTAL SHARES & DEPOSITS | 78,295,103 |
| TOTAL LIABILITIES | 78,975,263 |
| Regular Reserve | 1,346,261 |
| Other Reserves | 498,986 |
| Undivided Earnings | 6,743,139 |
| TOTAL EQUITY | 8,588,386 |
| TOTAL LIABILITIES, SHARES, & EQUITY | 87,563,649 |
| INCOME & EXPENSE | |
| Loan Income | 2,479,069 |
| Investment Income | 490,435 |
| Other Income | 1,117,823 |
| Total Employee Compensation & Benefits | 1,477,955 |
| NCUSIF Premiums Expense | 0 |
| Total Other Operating Expenses | 1,430,506 |
| Non-operating Income & (Expense) | 3,507 |
| NCUSIF Stabilization Income | N/A |
| Provision for Loan/Lease Losses or Total Credit Loss Expense | 133,587 |
| Cost of Funds | 32,078 |
| NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
| Net Income (Loss) | 1,016,708 |
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