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WEBSTER FIRST FEDERAL CREDIT UNION

Jun, 30, 2021 — WEBSTER FIRST FEDERAL CREDIT UNION is a federal credit union headquartered in Worcester, MA with 17 branch locations and about $1.24 billion in total assets. Opened 87 years ago in 1934, WEBSTER FIRST FEDERAL CREDIT UNION has about 86,044 members and employs 226 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.


ABA Routing Number: 211386597
Name:WEBSTER FIRST FEDERAL CREDIT UNION
Address:
(Main Office)
271 Greenwood St, P O Box 70505
Worcester, MA 01607-1733
Phone:(800) 962-4452
Fax:
Website:https://www.websterfirst.com
Branches:17 branch locations
Members:86,044
Credit Union Type:Federal Credit Union
Charter Number:24557
Membership Type:Community credit unions, urban or rural, other than those designated 'low income'
Corporate Credit Union:No
Year Opened:1934
Last Audited:Dec 01, 2020
FHLB Member:Yes
Low Income Designation:No
Assets:$1,242,168,372
CEO/Manager:Michael N Lussier
Chairperson:Daniel Durgin

Call Report

  • Credit Builder
  • First Time Homebuyer Program
  • International Remittances
  • Low Cost Wire Transfers

Financial Summary

» See also Statement of Financial Condition
ASSETS:$ Amount
Cash & Equivalents 97,065,076
TOTAL INVESTMENTS 174,558,192
Loans Held for Sale 0
 
 Real Estate Loans 583,680,223
 Unsecured Loans 24,114,178
 Other Loans 270,746,585
 TOTAL LOANS 878,540,986
 (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) -2,617,153
 Land And Building 23,608,029
 Other Fixed Assets 1,287,404
 NCUSIF Deposit 8,043,773
 All Other Assets 61,682,065
  TOTAL ASSETS 1,242,168,372
LIABILITIES & CAPITAL:  
 Dividends Payable 0
 Notes & Interest Payable 70,000,000
 Accounts Payable & Other Liabilities 31,712,713
 Uninsured Secondary Capital and Subordinated Debt Included in Net Worth 0
 Share Drafts 291,242,680
 Regular shares 381,771,524
 All Other Shares & Deposits 259,175,617
  TOTAL SHARES & DEPOSITS 932,189,821
  TOTAL LIABILITIES 1,033,902,534
 Regular Reserve 8,700,999
 Other Reserves 10,490,065
 Undivided Earnings 189,074,774
  TOTAL EQUITY 208,265,838
  TOTAL LIABILITIES, SHARES, & EQUITY 1,242,168,372
INCOME & EXPENSE  
 Loan Income 16,704,683
 Investment Income 696,883
 Other Income 3,525,029
 Total Employee Compensation & Benefits 7,260,970
 NCUSIF Premiums Expense 0
 Total Other Operating Expenses 5,941,982
 Non-operating Income & (Expense) -14,168
 NCUSIF Stabilization Income N/A
 Provision for Loan/Lease Losses or Total Credit Loss Expense 65,000
 Cost of Funds 2,298,865
 NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM N/A
Net Income (Loss) 6,030,082
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