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WASHINGTON EDUCATIONAL ASSOC FEDERAL CREDIT UNION

Jun, 30, 2021 — WASHINGTON EDUCATIONAL ASSOC FEDERAL CREDIT UNION is a federal credit union headquartered in FRANKLINTON, LA with 1 branch location and about $1.11 million in total assets. Opened 57 years ago in 1964, WASHINGTON EDUCATIONAL ASSOC FEDERAL CREDIT UNION has about 381 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 AVENUE
FRANKLINTON, LA 70438
Phone:(985) 795-1108
Fax:(985) 795-1110
Website:n/a
Branches:1 branch locations
Members:381
Credit Union Type:Federal Credit Union
Charter Number:16256
Membership Type:Educational
Corporate Credit Union:No
Year Opened:1964
Last Audited:Apr 01, 2021
FHLB Member:No
Low Income Designation:No
Assets:$1,107,209
CEO/Manager:CYNTHIA A AUGUST
Chairperson:EMMA L ROSS

Call Report

Financial Summary

» See also Statement of Financial Condition
ASSETS:$ Amount
Cash & Equivalents 139,899
TOTAL INVESTMENTS 435,624
Loans Held for Sale 0
 
 Real Estate Loans 0
 Unsecured Loans 239,673
 Other Loans 218,213
 TOTAL LOANS 457,886
 (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) -6,517
 Land And Building 58,394
 Other Fixed Assets 12,788
 NCUSIF Deposit 9,060
 All Other Assets 75
  TOTAL ASSETS 1,107,209
LIABILITIES & CAPITAL:  
 Dividends Payable 0
 Notes & Interest Payable 0
 Accounts Payable & Other Liabilities 1,302
 Uninsured Secondary Capital and Subordinated Debt Included in Net Worth 0
 Share Drafts 0
 Regular shares 958,607
 All Other Shares & Deposits 33,098
  TOTAL SHARES & DEPOSITS 991,705
  TOTAL LIABILITIES 993,007
 Regular Reserve 58,191
 Other Reserves 0
 Undivided Earnings 56,011
  TOTAL EQUITY 114,202
  TOTAL LIABILITIES, SHARES, & EQUITY 1,107,209
INCOME & EXPENSE  
 Loan Income 23,878
 Investment Income 1,545
 Other Income 4,618
 Total Employee Compensation & Benefits 16,173
 NCUSIF Premiums Expense 0
 Total Other Operating Expenses 13,886
 Non-operating Income & (Expense) 0
 NCUSIF Stabilization Income N/A
 Provision for Loan/Lease Losses or Total Credit Loss Expense 0
 Cost of Funds 1,385
 NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM N/A
Net Income (Loss) -1,403
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