Mar, 31, 2022 — WATERFRONT FEDERAL CREDIT UNION is a federal credit union headquartered in SEATTLE, WA with 1 branch location and about $93.43 million in total assets. Opened 58 years ago in 1964, WATERFRONT FEDERAL CREDIT UNION has about 6,694 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: | 6,694 |
| 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: | $93,430,522 |
| CEO/Manager: | Michelle Cropley |
| Chairperson: | Justin Hirsch |
| ASSETS: | $ Amount |
|---|---|
| Cash & Equivalents | 8,751,271 |
| TOTAL INVESTMENTS | 0 |
| Loans Held for Sale | 0 |
| Real Estate Loans | 13,571,355 |
| Unsecured Loans | 7,639,646 |
| Other Loans | 27,102,619 |
| TOTAL LOANS | 48,313,620 |
| (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -216,753 |
| Land And Building | 5,666,603 |
| Other Fixed Assets | 924,592 |
| NCUSIF Deposit | 806,786 |
| All Other Assets | 0 |
| TOTAL ASSETS | 93,430,522 |
| LIABILITIES & CAPITAL: | |
| Dividends Payable | 0 |
| Notes & Interest Payable | 0 |
| Accounts Payable & Other Liabilities | 945,152 |
| Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
| Share Drafts | 17,462,853 |
| Regular shares | 65,924,736 |
| All Other Shares & Deposits | 1,540,055 |
| TOTAL SHARES & DEPOSITS | 84,927,644 |
| TOTAL LIABILITIES | 85,872,796 |
| Regular Reserve | 0 |
| Other Reserves | -1,806,933 |
| Undivided Earnings | 9,364,659 |
| TOTAL EQUITY | 7,557,726 |
| TOTAL LIABILITIES, SHARES, & EQUITY | 93,430,522 |
| INCOME & EXPENSE | |
| Loan Income | 590,317 |
| Investment Income | 117,255 |
| Other Income | 85,524 |
| Total Employee Compensation & Benefits | 417,260 |
| NCUSIF Premiums Expense | 0 |
| Total Other Operating Expenses | 393,210 |
| Non-operating Income & (Expense) | 89 |
| NCUSIF Stabilization Income | N/A |
| Provision for Loan/Lease Losses or Total Credit Loss Expense | 38,524 |
| Cost of Funds | 9,178 |
| NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
| Net Income (Loss) | 282,228 |
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