Dec, 31, 2022 — WATERFRONT FEDERAL CREDIT UNION is a federal credit union headquartered in SEATTLE, WA with 1 branch location and about $92.80 million in total assets. Opened 59 years ago in 1964, WATERFRONT FEDERAL CREDIT UNION has about 6,801 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) | 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: | 6,801 |
| 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, 2021 |
| FHLB Member: | No |
| Low Income Designation: | No |
| Assets: | $92,798,965 |
| CEO/Manager: | Michelle Cropley |
| Chairperson: | Justin Hirsch |
| ASSETS: | $ Amount |
|---|---|
| Cash & Equivalents | 8,583,849 |
| TOTAL INVESTMENTS | 0 |
| Loans Held for Sale | 0 |
| Real Estate Loans | 13,849,979 |
| Unsecured Loans | 8,406,824 |
| Other Loans | 28,656,026 |
| TOTAL LOANS | 50,912,829 |
| (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -228,435 |
| Land And Building | 5,618,287 |
| Other Fixed Assets | 884,964 |
| NCUSIF Deposit | 813,421 |
| All Other Assets | 0 |
| TOTAL ASSETS | 92,798,965 |
| LIABILITIES & CAPITAL: | |
| Dividends Payable | 0 |
| Notes & Interest Payable | 0 |
| Accounts Payable & Other Liabilities | 1,079,119 |
| Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
| Share Drafts | 17,657,799 |
| Regular shares | 66,633,237 |
| All Other Shares & Deposits | 1,565,427 |
| TOTAL SHARES & DEPOSITS | 85,856,463 |
| TOTAL LIABILITIES | 86,935,582 |
| Regular Reserve | 0 |
| Other Reserves | -3,853,593 |
| Undivided Earnings | 9,716,976 |
| TOTAL EQUITY | 5,863,383 |
| TOTAL LIABILITIES, SHARES, & EQUITY | 92,798,965 |
| INCOME & EXPENSE | |
| Loan Income | 1,853,152 |
| Investment Income | 414,492 |
| Other Income | 271,316 |
| Total Employee Compensation & Benefits | 1,223,151 |
| NCUSIF Premiums Expense | 0 |
| Total Other Operating Expenses | 1,300,454 |
| Non-operating Income & (Expense) | 89 |
| NCUSIF Stabilization Income | N/A |
| Provision for Loan/Lease Losses or Total Credit Loss Expense | 96,936 |
| Cost of Funds | 27,841 |
| NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
| Net Income (Loss) | 634,546 |
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