Dec, 31, 2023 — WASHINGTON EDUCATIONAL ASSOC FEDERAL CREDIT UNION is a federal credit union headquartered in FRANKLINTON, LA with 1 branch location and about $1.09 million in total assets. Opened 60 years ago in 1964, WASHINGTON EDUCATIONAL ASSOC FEDERAL CREDIT UNION has about 379 members and employs 4 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.
| Name: | WASHINGTON EDUCATIONAL ASSOC FEDERAL CREDIT UNION |
|---|---|
| Address: (Main Office) | 308 11TH AVE FRANKLINTON, LA 70438-1147 |
| Phone: | (985) 795-1108 |
| Fax: | (985) 795-1110 |
| Website: | n/a |
| Branches: | 1 branch locations |
| Members: | 379 |
| Credit Union Type: | Federal Credit Union |
| Charter Number: | 16256 |
|---|---|
| Membership Type: | Educational |
| Corporate Credit Union: | No |
| Year Opened: | 1964 |
| Last Audited: | Dec 01, 2022 |
| FHLB Member: | No |
| Low Income Designation: | No |
| Assets: | $1,089,023 |
| CEO/Manager: | SHARON K SMITH |
| Chairperson: | EMMA L ROSS |
| ASSETS: | $ Amount |
|---|---|
| Cash & Equivalents | 40,220 |
| TOTAL INVESTMENTS | 0 |
| Loans Held for Sale | 0 |
| Real Estate Loans | 0 |
| Unsecured Loans | 439,471 |
| Other Loans | 187,909 |
| TOTAL LOANS | 627,380 |
| (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | 17,161 |
| Land And Building | 53,392 |
| Other Fixed Assets | 16,126 |
| NCUSIF Deposit | 9,963 |
| All Other Assets | 0 |
| TOTAL ASSETS | 1,089,023 |
| LIABILITIES & CAPITAL: | |
| Dividends Payable | 0 |
| Notes & Interest Payable | 0 |
| Accounts Payable & Other Liabilities | 10,746 |
| Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
| Share Drafts | 0 |
| Regular shares | 947,335 |
| All Other Shares & Deposits | 4,644 |
| TOTAL SHARES & DEPOSITS | 951,980 |
| TOTAL LIABILITIES | 962,726 |
| Regular Reserve | 0 |
| Other Reserves | 58,192 |
| Undivided Earnings | 68,105 |
| TOTAL EQUITY | 126,297 |
| TOTAL LIABILITIES, SHARES, & EQUITY | 1,089,023 |
| INCOME & EXPENSE | |
| Loan Income | 52,179 |
| Investment Income | 10,969 |
| Other Income | 11,437 |
| Total Employee Compensation & Benefits | 39,185 |
| NCUSIF Premiums Expense | 0 |
| Total Other Operating Expenses | 32,039 |
| Non-operating Income & (Expense) | 0 |
| NCUSIF Stabilization Income | N/A |
| Provision for Loan/Lease Losses or Total Credit Loss Expense | 1,000 |
| Cost of Funds | 1,659 |
| NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
| Net Income (Loss) | 702 |
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