Jun, 30, 2024 — WINTHROP AREA FEDERAL CREDIT UNION is a federal credit union headquartered in WINTHROP, ME with 1 branch location and about $93.27 million in total assets. Opened 88 years ago in 1937, WINTHROP AREA FEDERAL CREDIT UNION has about 7,817 members and employs 14 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.
| Name: | WINTHROP AREA FEDERAL CREDIT UNION |
|---|---|
| Address: (Main Office) | 94 HIGHLAND AVE WINTHROP, ME 04364 |
| Phone: | (207) 377-2124 |
| Fax: | (207) 377-2767 |
| Website: | https://www.winthropcreditunion.org |
| Branches: | 1 branch locations |
| Members: | 7,817 |
| Credit Union Type: | Federal Credit Union |
| Charter Number: | 2301 |
|---|---|
| Membership Type: | Community credit unions, urban or rural, other than those designated 'low income' |
| Corporate Credit Union: | No |
| Year Opened: | 1937 |
| Last Audited: | Sep 01, 2021 |
| FHLB Member: | No |
| Low Income Designation: | No |
| Assets: | $93,268,078 |
| CEO/Manager: | JEFFREY J SEGUIN |
| Chairperson: | SCOTT KETCHEN |
| ASSETS: | $ Amount |
|---|---|
| Cash & Equivalents | 8,920,686 |
| TOTAL INVESTMENTS | 0 |
| Loans Held for Sale | 0 |
| Real Estate Loans | 16,733,944 |
| Unsecured Loans | 926,438 |
| Other Loans | 34,938,725 |
| TOTAL LOANS | 52,599,107 |
| (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -274,071 |
| Land And Building | 999,289 |
| Other Fixed Assets | 132,698 |
| NCUSIF Deposit | 791,404 |
| All Other Assets | 0 |
| TOTAL ASSETS | 93,268,078 |
| LIABILITIES & CAPITAL: | |
| Dividends Payable | 0 |
| Notes & Interest Payable | 0 |
| Accounts Payable & Other Liabilities | 422,655 |
| Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
| Share Drafts | 12,227,952 |
| Regular shares | 21,441,433 |
| All Other Shares & Deposits | 50,238,015 |
| TOTAL SHARES & DEPOSITS | 83,907,400 |
| TOTAL LIABILITIES | 84,330,055 |
| Regular Reserve | 0 |
| Other Reserves | 1,202,600 |
| Undivided Earnings | 7,735,423 |
| TOTAL EQUITY | 8,938,023 |
| TOTAL LIABILITIES, SHARES, & EQUITY | 93,268,078 |
| INCOME & EXPENSE | |
| Loan Income | 1,820,708 |
| Investment Income | 267,956 |
| Other Income | 183,246 |
| Total Employee Compensation & Benefits | 734,026 |
| NCUSIF Premiums Expense | 0 |
| Total Other Operating Expenses | 1,111,323 |
| Non-operating Income & (Expense) | 0 |
| NCUSIF Stabilization Income | N/A |
| Provision for Loan/Lease Losses or Total Credit Loss Expense | 41,500 |
| Cost of Funds | 301,139 |
| NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
| Net Income (Loss) | 412,998 |
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