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WATERFRONT FEDERAL CREDIT UNION

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.


ABA Routing Number: 325082062
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

Call Report

  • Credit Builder
  • Indirect Consumer Loans
  • Overdraft Lines of Credit
  • Overdraft Protection
  • Real Estate Loans
  • Risk Based Loans
  • Share Secured Credit Cards
  • Payday Alternative Loans (PAL Loans)
  • ATM/Debit Card Program
  • Check Cashing
  • International Remittances
  • Low Cost Wire Transfers

Financial Summary

» See also Statement of Financial Condition
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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