Dec, 31, 2020 — WASHINGTON EDUCATIONAL ASSOC FEDERAL CREDIT UNION is a federal credit union headquartered in FRANKLINTON, LA with 1 branch location and about $1.02 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: | Dec 01, 2019 |
| FHLB Member: | No |
| Low Income Designation: | No |
| Assets: | $1,022,901 |
| CEO/Manager: | CYNTHIA A AUGUST |
| Chairperson: | EMMA L ROSS |
| ASSETS: | $ Amount |
|---|---|
| Cash & Equivalents | 64,345 |
| TOTAL INVESTMENTS | 414,763 |
| Loans Held for Sale | 0 |
| Real Estate Loans | 0 |
| Unsecured Loans | 261,509 |
| Other Loans | 206,589 |
| TOTAL LOANS | 468,098 |
| (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -5,390 |
| Land And Building | 59,239 |
| Other Fixed Assets | 13,556 |
| NCUSIF Deposit | 8,215 |
| All Other Assets | 75 |
| TOTAL ASSETS | 1,022,901 |
| LIABILITIES & CAPITAL: | |
| Dividends Payable | 0 |
| Notes & Interest Payable | 0 |
| Accounts Payable & Other Liabilities | 1,216 |
| Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
| Share Drafts | 0 |
| Regular shares | 897,495 |
| All Other Shares & Deposits | 8,585 |
| TOTAL SHARES & DEPOSITS | 906,080 |
| TOTAL LIABILITIES | 907,296 |
| Regular Reserve | 58,192 |
| Other Reserves | 0 |
| Undivided Earnings | 57,413 |
| TOTAL EQUITY | 115,605 |
| TOTAL LIABILITIES, SHARES, & EQUITY | 1,022,901 |
| INCOME & EXPENSE | |
| Loan Income | 45,250 |
| Investment Income | 3,696 |
| Other Income | 10,397 |
| Total Employee Compensation & Benefits | 31,429 |
| NCUSIF Premiums Expense | 0 |
| Total Other Operating Expenses | 36,145 |
| Non-operating Income & (Expense) | 0 |
| NCUSIF Stabilization Income | N/A |
| Provision for Loan/Lease Losses or Total Credit Loss Expense | 0 |
| Cost of Funds | 3,011 |
| NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
| Net Income (Loss) | -11,242 |
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