Sep, 30, 2025 — WELCOME FEDERAL CREDIT UNION is a federal credit union headquartered in MORRISVILLE, NC with 4 branch locations and about $90.30 million in total assets. Opened 52 years ago in 1974, WELCOME FEDERAL CREDIT UNION has about 6,399 members and employs 20 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.
| Name: | WELCOME FEDERAL CREDIT UNION |
|---|---|
| Address: (Main Office) | 10810 Chapel Hill Rd MORRISVILLE, NC 27560 |
| Phone: | (919) 474-3240 |
| Fax: | (919) 474-0562 |
| Website: | https://www.welcomecu.org |
| Branches: | 4 branch locations |
| Members: | 6,399 |
| Credit Union Type: | Federal Credit Union |
| Charter Number: | 24807 |
|---|---|
| Membership Type: | Multiple common bond - Primarily other manufacturing |
| Corporate Credit Union: | No |
| Year Opened: | 1974 |
| Last Audited: | Sep 01, 2024 |
| FHLB Member: | Yes |
| Low Income Designation: | No |
| Assets: | $90,301,779 |
| CEO/Manager: | Stacey W Mills |
| Chairperson: | Abbasali Hamedani |
| ASSETS: | $ Amount |
|---|---|
| Cash & Equivalents | 6,203,819 |
| TOTAL INVESTMENTS | 0 |
| Loans Held for Sale | 0 |
| Real Estate Loans | 18,492,534 |
| Unsecured Loans | 2,601,614 |
| Other Loans | 15,641,526 |
| TOTAL LOANS | 46,781,710 |
| (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -447,765 |
| Land And Building | 5,304,219 |
| Other Fixed Assets | 303,883 |
| NCUSIF (National Credit Union Share Insurance Fund) Deposit | 705,233 |
| All Other Assets | 36,949 |
| TOTAL ASSETS | 90,301,779 |
| LIABILITIES & CAPITAL: | |
| Dividends Payable | 55,914 |
| Notes & Interest Payable | 0 |
| Accounts Payable & Other Liabilities | 803,256 |
| Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
| Share Drafts | 13,508,034 |
| Regular shares | 33,852,209 |
| All Other Shares & Deposits | 30,262,171 |
| TOTAL SHARES & DEPOSITS | 77,622,414 |
| TOTAL LIABILITIES | 78,482,317 |
| Regular Reserve | 0 |
| Other Reserves | 42,952 |
| Undivided Earnings | 11,776,510 |
| TOTAL EQUITY | 11,819,462 |
| TOTAL LIABILITIES, SHARES, & EQUITY | 90,301,779 |
| INCOME & EXPENSE | |
| Loan Income | 2,258,119 |
| Investment Income | 1,129,507 |
| Other Income | 257,514 |
| Total Employee Compensation & Benefits | 1,479,668 |
| NCUSIF (National Credit Union Share Insurance Fund) Premiums Expense | 0 |
| Total Other Operating Expenses | 1,345,242 |
| Non-operating Income & (Expense) | 1,946 |
| NCUSIF Stabilization Income | N/A |
| Provision for Loan/Lease Losses or Total Credit Loss Expense | 186,437 |
| Cost of Funds | 686,815 |
| NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
| Net Income (Loss) | 238,193 |
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