Jun, 30, 2024 — WESLA FEDERAL CREDIT UNION is a federal credit union headquartered in SHREVEPORT, LA with 3 branch locations and about $98.91 million in total assets. Opened 54 years ago in 1971, WESLA FEDERAL CREDIT UNION has about 6,803 members and employs 26 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.
| Name: | WESLA FEDERAL CREDIT UNION |
|---|---|
| Address: (Main Office) | 2921 Williamson Way SHREVEPORT, LA 71118 |
| Phone: | (318) 687-8700 |
| Fax: | (318) 688-8833 |
| Website: | https://www.wesla.org |
| Branches: | 3 branch locations |
| Members: | 6,803 |
| Credit Union Type: | Federal Credit Union |
| Charter Number: | 20749 |
|---|---|
| Membership Type: | Community credit unions, urban or rural, other than those designated 'low income' |
| Corporate Credit Union: | No |
| Year Opened: | 1971 |
| Last Audited: | Dec 01, 2021 |
| FHLB Member: | No |
| Low Income Designation: | No |
| Assets: | $98,913,433 |
| CEO/Manager: | Teresa J Morrow |
| Chairperson: | Barbara R Flora |
| ASSETS: | $ Amount |
|---|---|
| Cash & Equivalents | 6,144,597 |
| TOTAL INVESTMENTS | 0 |
| Loans Held for Sale | 0 |
| Real Estate Loans | 7,077,923 |
| Unsecured Loans | 2,780,179 |
| Other Loans | 12,371,575 |
| TOTAL LOANS | 23,182,274 |
| (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -88,028 |
| Land And Building | 1,377,537 |
| Other Fixed Assets | 114,123 |
| NCUSIF Deposit | 828,970 |
| All Other Assets | 0 |
| TOTAL ASSETS | 98,913,433 |
| LIABILITIES & CAPITAL: | |
| Dividends Payable | 935 |
| Notes & Interest Payable | 0 |
| Accounts Payable & Other Liabilities | 171,973 |
| Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
| Share Drafts | 21,560,118 |
| Regular shares | 44,458,755 |
| All Other Shares & Deposits | 21,446,137 |
| TOTAL SHARES & DEPOSITS | 87,465,010 |
| TOTAL LIABILITIES | 87,637,918 |
| Regular Reserve | 0 |
| Other Reserves | -739,931 |
| Undivided Earnings | 12,015,446 |
| TOTAL EQUITY | 11,275,515 |
| TOTAL LIABILITIES, SHARES, & EQUITY | 98,913,433 |
| INCOME & EXPENSE | |
| Loan Income | 726,144 |
| Investment Income | 477,644 |
| Other Income | 606,844 |
| Total Employee Compensation & Benefits | 773,178 |
| NCUSIF Premiums Expense | 0 |
| Total Other Operating Expenses | 1,440,275 |
| Non-operating Income & (Expense) | 496 |
| NCUSIF Stabilization Income | N/A |
| Provision for Loan/Lease Losses or Total Credit Loss Expense | 82,729 |
| Cost of Funds | 14,222 |
| NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
| Net Income (Loss) | -226,159 |
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