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National Credit Union Service Organization

WATERFRONT FEDERAL CREDIT UNION
— Statement of Financial Condition

Then NCUA provides quarterly Call Reports using accounting and statistical information from each credit union. The Call Report includes Balance Sheet, Income Statement and more.

Statement of financial condition for WATERFRONT FEDERAL CREDIT UNION as of: June 30, 2023.
Charter Number: 16178

ASSETS$ Amount
CASH:  
 1. Cash on Hand 765,805
 2. Cash on Deposit (Amounts Deposited in Financial Institutions) 7,818,044
 3. Cash Equivalents (Investments with Original Maturities of Three Months or Less) 0
INVESTMENTS:  
 4. Equity Securities 0
 5. Trading Debut Securities 0
 6. Available-for-Sale Debt Securities 24,727,556
 7. Held-to-Maturity Debt Securities 0
 8. Deposits in commercial banks, S&Ls, savings banks 0
 9. Loans to and investments in natural person credit unions 0
 10. Nonperpetual Capital Account 0
 11. Perpetual Contributed Capital 131,581
 12. All other investments in corporate credit unions 0
 13. All other investments 0
 14. TOTAL INVESTMENTS 0
LOANS HELD FOR SALE:  
 15. Loans Held for Sale 0
LOANS AND LEASES:  
 16. TOTAL LOANS & LEASES 50,912,829
 17. Less: Allowance for Loan & Lease Losses 228,435
 18: Less: Allowance for Credit Losses on Loans & Leases 0
OTHER ASSETS:  
 19. Foreclosed and Repossessed Assets 0
 20. Land and Building 5,618,287
 21. Other Fixed Assets 884,964
 22. NCUA Share Insurance Capitalization Deposit 813,421
 23. Intangible Assets 0
 24. Other Assets 0
25. TOTAL ASSETS 92,798,965
LIABILITIES$ Amount
 1. Draws Against Lines of Credit 0
 2. Other Notes, Promissory Notes and Interest Payable 0
 3. Borrowing Repurchase Transactions 0
 4. Subordinated Debt 0
 5. Subordinated Debt included in Net Worth 0
 6. TOTALS 0
 7. Non-Trading Derivative Liabilities 0
 8. Accrued Dividends & Interest Payable on Shares & Deposits 0
 9. Accounts Payable and Other Liabilities 1,079,119
 10. Allowance for Credit Losses on Off-Balance Sheet Credit Exposures 0
SHARES/DEPOSITS:  
 11. Share Drafts 17,657,799
 12. Regular Shares 66,633,237
 13. Money Market Shares 0
 14. Share Certificates 985,991
 15. IRA/KEOGH Accounts 521,077
 16. All Other Shares 58,359
 17. TOTAL SHARES 85,856,463
 18. Nonmember Deposits 0
 19. TOTAL SHARES AND DEPOSITS 85,856,463
20. TOTAL LIABILITIES  
 21. Accounts Held by Member Public Units 0
 22. Accounts Held by Nonmember Public Units 0
 23. Employee Benefit Member Shares 0
 24. Employee Benefit Nonmember Shares 0
 25. 529 Plan Member Deposits 0
 26. Non-dollar denominated deposits 0
 27. Health Savings Account 0
 28. Dollar Amount of Share Certificates equal to or greater than $100,000 (Excluding brokered share certificates participated out by the broker in shares of less than $100,000) 243,868
 29. Dollar Amount of IRA/Keogh Accounts equal to or greater than $100,000 0
 30. Dollar Amount of Share Drafts Swept to Regular Shares or Money Market Accts as part of Sweep Program 0
 31. Dollar Amount of Commercial Share Accounts 0
 32. Negative Shares Included in All Other Unsecured Loans/Lines of Credit 37,921
EQUITY:  
 33. Undivided Earnings 9,082,430
 34. Regular Reserves 0
 35. Appropriation for Non-Conforming Investments (State Credit Unions ONLY) 0
 36. Other Reserves.(Appropriations of Undivided Earnings) 0
 37. Equity Acquired in Merger 0
 38. Miscellaneous Equity 0
 39. Other Comprehensive Income (not already included in items 40 - 43) 0
 40. Accumulated Unrealized Net Gains (Losses) on Cash Flow Hedges 0
 41. Accumulated Unrealized Gains (Losses) on Available for Sale Debt Securities -3,853,593
 42. Accumulated Unrealized Losses for OTTI (Due to Other Factors) on HTM Debt Securities 0
 43. Net Income (unless this amount is already included in Undivided Earnings) 634,546
44. TOTAL LIABILITIES, SHARES, AND EQUITY 92,798,965
Statement of Income & Expense$ Amount
INTEREST INCOME YEAR-TO-DATE FOR THE CYCLE  
 1. Interest on Loans (Gross-before interest refunds) 1,853,152
 2. (Less) Interest Refunded 0
 3. Income from Investments (Including Interest and Dividends, excluding securities held in a trading account) 414,492
 4. Unrealized Gain (Loss) due to change in fair value of Equity and Trading Debt Securities 0
 5. TOTAL INTEREST INCOME 2,267,644
INTEREST EXPENSE YEAR-TO-DATE FOR THE CYCLE  
 6. Dividends on Shares (Includes dividends earned during current period) 27,841
 7. Interest on Deposits (Total interest expense for deposit accounts) (State Credit Union ONLY) 0
 8. Interest on Borrowed Money 0
 9. TOTAL INTEREST EXPENSE 27,841
 10. Provision for Loan & Lease Losses 96,936
 11. Total Credit Loss Expense 0
 12. NET INTEREST INCOME AFTER PROVISION FOR LOAN AND LEASE LOSSES or CREDIT LOSS EXPENSE 0
NON-INTEREST INCOME YEAR-TO-DATE FOR THE CYCLE  
 13. Fee Income 271,316
 14. Other Operating Income (Includes unconsolidated CUSO Income and Gain (Loss) associated with the Hedged Item (NonInvestment Assets) in a Non-Trading, Fair Value (FV) Derivatives Hedge) 0
 15. Gain (Loss) on Equity Securities (DO NOT include Gain (Loss) on other securities) 0
 16. Gain (Loss) on Other Securities (DO NOT include Gain or Loss on Equity Securities) 0
 17. Gain (Loss) on Non-Trading Derivatives 0
 18. Gain (Loss) on Disposition of Fixed Assets 0
 19. Gain from Bargain Purchase (Merger) 0
 20. Other Non-operating Income (Expense) 89
 21. TOTAL NON-INTEREST INCOME 1,015,284
NON-INTEREST EXPENSE YEAR-TO-DATE FOR THE CYCLE  
 22. Total Employee Compensation and Benefits 1,223,151
 23. Travel and Conference Expense 62,591
 24. Office Occupancy Expense 195,453
 25. Office Operations Expense 576,992
 26. Educational and Promotional Expenses 151,608
 27. Loan Servicing Expense 81,515
 28. Professional and Outside Services 169,804
 29. Total Member Insurance 0
 30. Operating Fees (Examination and/or supervision fees) 11,335
 31. Miscellaneous Operating Expenses 51,156
 32. TOTAL NON-INTEREST EXPENSE 2,523,605
33. NET INCOME (LOSS) 634,546
RESERVE TRANSFERS YEAR-TO-DATE FOR THE CYCLE  
 34. Transfer to Regular Reserves 0
Interest Rate# LoansAmount
Non-Commercial Loans/Lines of Credit
 1. Unsecured Credit Card Loans9.90797$2,978,739
 2. Payday Alternative Loans (PALs I and PALs II)28.0045$9,010
 3. Non-Federally Guaranteed Student Loans0.000$0
 4. All Other Unsecured Loans/Lines of Credit - include SBA PPP loans7.99794$5,419,075
 5. New Vehicle Loans3.39187$5,022,880
 6. Used Vehicle Loans4.64771$14,411,157
 7. Leases Receivable0.000$0
 8. All Other Secured Non-Real Estate Loans/Lines of Credit3.05362$9,221,989
 9. Loans/Lines of Credit Secured by a First Lien on a single 1- to 4- Family Residential Property4.0032$7,582,327
 10. Loans/Lines of Credit Secured by a Junior Lien on a single 1- to 4- Family Residential Property5.5124$6,267,652
 11. All Other Real Estate Loans/Lines of Credit0.000$0
Commercial Loans / Lines of Credit
 12. Commercial Loans/Lines of Credit Real Estate Secured0.000$0
 13. Commercial Loans/Lines of Credit Not Real Estate Secured0.000$0
 14. TOTAL LOANS & LEASES3,112$50,912,829
YEAR-TO-DATE LOAN INFORMATIONNumberAmount
 15. Loans Granted Year-to-Date673$16,525,849
  a. Payday Alternative Loans (PALs I and PALs II) Granted Year-to-Date12$13,866
MISCELLANEOUS LOAN INFORMATIONNumberAmount
 16. Non-Federally Guaranteed Student Loans in Deferred Status0$0
 17. Loans Outstanding to Credit Union Officials and Senior Executive Staff25$854,710
GOVERNMENT GUARANTEED LOANSNumberOutstanding BalanceGuaranteed Portion
 18. Non-Commercial Loans  
  a. 1. Small Business Administration0$0$0
  a. 2. Paycheck Protection Program Loans (Included in 18.a.1.)0$0-
  b. Other Government Guaranteed0$0$0
 19. Commercial Loans  
  a. Small Business Administration0$0$0
  b. Other Government Guaranteed0$0$0
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