Jun, 30, 2023 — WEST MONROE FEDERAL CREDIT UNION is a federal credit union headquartered in WEST MONROE, LA with 1 branch location and about $4.58 million in total assets. Opened 47 years ago in 1976, WEST MONROE FEDERAL CREDIT UNION has about 448 members offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.
| Name: | WEST MONROE FEDERAL CREDIT UNION |
|---|---|
| Address: (Main Office) | 211 Cypress St WEST MONROE, LA 71291-3119 |
| Phone: | (318) 387-2896 |
| Fax: | (318) 322-5155 |
| Website: | n/a |
| Branches: | 1 branch locations |
| Members: | 448 |
| Credit Union Type: | Federal Credit Union |
| Charter Number: | 22527 |
|---|---|
| Membership Type: | Federal, State, Local Government |
| Corporate Credit Union: | No |
| Year Opened: | 1976 |
| Last Audited: | Dec 01, 2021 |
| FHLB Member: | No |
| Low Income Designation: | No |
| Assets: | $4,576,478 |
| CEO/Manager: | Erik Pearson |
| Chairperson: | Carl Turner |
| ASSETS: | $ Amount |
|---|---|
| Cash & Equivalents | 779,868 |
| TOTAL INVESTMENTS | 0 |
| Loans Held for Sale | 0 |
| Real Estate Loans | 415,855 |
| Unsecured Loans | 458,329 |
| Other Loans | 2,151,486 |
| TOTAL LOANS | 3,025,670 |
| (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -37,893 |
| Land And Building | 0 |
| Other Fixed Assets | 0 |
| NCUSIF Deposit | 40,718 |
| All Other Assets | 0 |
| TOTAL ASSETS | 4,576,478 |
| LIABILITIES & CAPITAL: | |
| Dividends Payable | 0 |
| Notes & Interest Payable | 0 |
| Accounts Payable & Other Liabilities | 7,730 |
| Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
| Share Drafts | 0 |
| Regular shares | 2,109,896 |
| All Other Shares & Deposits | 1,885,339 |
| TOTAL SHARES & DEPOSITS | 3,995,235 |
| TOTAL LIABILITIES | 4,002,965 |
| Regular Reserve | 0 |
| Other Reserves | 70,906 |
| Undivided Earnings | 502,607 |
| TOTAL EQUITY | 573,513 |
| TOTAL LIABILITIES, SHARES, & EQUITY | 4,576,478 |
| INCOME & EXPENSE | |
| Loan Income | 147,811 |
| Investment Income | 10,406 |
| Other Income | 6,603 |
| Total Employee Compensation & Benefits | 120,898 |
| NCUSIF Premiums Expense | 0 |
| Total Other Operating Expenses | 22,754 |
| Non-operating Income & (Expense) | 0 |
| NCUSIF Stabilization Income | N/A |
| Provision for Loan/Lease Losses or Total Credit Loss Expense | -5,500 |
| Cost of Funds | 26,489 |
| NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
| Net Income (Loss) | 179 |
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