Jun, 30, 2024 — W S S C FEDERAL CREDIT UNION is a federal credit union headquartered in LAUREL, MD with 2 branch locations and about $34.65 million in total assets. Opened 61 years ago in 1964, W S S C FEDERAL CREDIT UNION has about 3,472 members and employs 6 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.
| Name: | W S S C FEDERAL CREDIT UNION |
|---|---|
| Address: (Main Office) | 14501 Sweitzer Ln LAUREL, MD 20707 |
| Phone: | (240) 459-8005 |
| Fax: | (301) 206-8481 |
| Website: | https://www.wsscfcu.org |
| Branches: | 2 branch locations |
| Members: | 3,472 |
| Credit Union Type: | Federal Credit Union |
| Charter Number: | 16268 |
|---|---|
| Membership Type: | Multiple common bond - Primarily communications and utilities |
| Corporate Credit Union: | No |
| Year Opened: | 1964 |
| Last Audited: | Sep 01, 2021 |
| FHLB Member: | No |
| Low Income Designation: | No |
| Assets: | $34,650,518 |
| CEO/Manager: | Jeffrey S Goff |
| Chairperson: | Mark Brackett |
| ASSETS: | $ Amount |
|---|---|
| Cash & Equivalents | 1,389,401 |
| TOTAL INVESTMENTS | 0 |
| Loans Held for Sale | 0 |
| Real Estate Loans | 5,404,440 |
| Unsecured Loans | 4,662,420 |
| Other Loans | 10,710,927 |
| TOTAL LOANS | 20,777,787 |
| (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -296,781 |
| Land And Building | 0 |
| Other Fixed Assets | 197,928 |
| NCUSIF Deposit | 302,699 |
| All Other Assets | 0 |
| TOTAL ASSETS | 34,650,518 |
| LIABILITIES & CAPITAL: | |
| Dividends Payable | 0 |
| Notes & Interest Payable | 0 |
| Accounts Payable & Other Liabilities | 99,260 |
| Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
| Share Drafts | 3,955,354 |
| Regular shares | 22,764,390 |
| All Other Shares & Deposits | 5,154,583 |
| TOTAL SHARES & DEPOSITS | 31,874,327 |
| TOTAL LIABILITIES | 31,973,587 |
| Regular Reserve | 0 |
| Other Reserves | -250,978 |
| Undivided Earnings | 2,927,909 |
| TOTAL EQUITY | 2,676,931 |
| TOTAL LIABILITIES, SHARES, & EQUITY | 34,650,518 |
| INCOME & EXPENSE | |
| Loan Income | 1,019,042 |
| Investment Income | 114,318 |
| Other Income | 180,400 |
| Total Employee Compensation & Benefits | 478,532 |
| NCUSIF Premiums Expense | 0 |
| Total Other Operating Expenses | 664,809 |
| Non-operating Income & (Expense) | 0 |
| NCUSIF Stabilization Income | N/A |
| Provision for Loan/Lease Losses or Total Credit Loss Expense | 135,879 |
| Cost of Funds | 42,238 |
| NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
| Net Income (Loss) | 11,958 |
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