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WELCOME FEDERAL CREDIT UNION

Dec, 31, 2020 — WELCOME FEDERAL CREDIT UNION is a federal credit union headquartered in MORRISVILLE, NC with 6 branch locations and about $93.91 million in total assets. Opened 47 years ago in 1974, WELCOME FEDERAL CREDIT UNION has about 7,363 members and employs 25 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: 253177120
Name:WELCOME FEDERAL CREDIT UNION
Address:
(Main Office)
PO BOX 830
MORRISVILLE, NC 27560
Phone:(919) 474-3240
Fax:(919) 474-0562
Website:http://www.welcomecu.org
Branches:6 branch locations
Members:7,363
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, 2020
FHLB Member:Yes
Low Income Designation:No
Assets:$93,914,131
CEO/Manager:Stacey W Mills
Chairperson:Derek Brandon

Call Report

  • Commercial Loans
  • Indirect Consumer Loans
  • Overdraft Lines of Credit
  • Overdraft Protection
  • Participation Loans
  • Real Estate Loans
  • Risk Based Loans
  • ATM/Debit Card Program
  • Insurance/Investment Sales
  • International Remittances
  • Low Cost Wire Transfers

Financial Summary

» See also Statement of Financial Condition
ASSETS:$ Amount
Cash & Equivalents 12,179,136
TOTAL INVESTMENTS 17,035,721
Loans Held for Sale 0
 
 Real Estate Loans 20,828,498
 Unsecured Loans 2,897,743
 Other Loans 31,596,346
 TOTAL LOANS 58,601,570
 (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) -198,056
 Land And Building 4,305,016
 Other Fixed Assets 108,868
 NCUSIF Deposit 750,629
 All Other Assets 1,131,247
  TOTAL ASSETS 93,914,131
LIABILITIES & CAPITAL:  
 Dividends Payable 61,631
 Notes & Interest Payable 0
 Accounts Payable & Other Liabilities 1,192,029
 Uninsured Secondary Capital and Subordinated Debt Included in Net Worth 0
 Share Drafts 13,904,593
 Regular shares 44,252,014
 All Other Shares & Deposits 23,009,622
  TOTAL SHARES & DEPOSITS 81,166,229
  TOTAL LIABILITIES 82,419,889
 Regular Reserve 4,244,995
 Other Reserves 0
 Undivided Earnings 7,249,247
  TOTAL EQUITY 11,494,242
  TOTAL LIABILITIES, SHARES, & EQUITY 93,914,131
INCOME & EXPENSE  
 Loan Income 2,723,859
 Investment Income 321,276
 Other Income 756,190
 Total Employee Compensation & Benefits 1,814,758
 NCUSIF Premiums Expense 0
 Total Other Operating Expenses 1,761,075
 Non-operating Income & (Expense) -15,423
 NCUSIF Stabilization Income N/A
 Provision for Loan/Lease Losses or Total Credit Loss Expense 9,232
 Cost of Funds 353,181
 NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM N/A
Net Income (Loss) -152,344
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