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WELCOME FEDERAL CREDIT UNION

Jun, 30, 2021 — WELCOME FEDERAL CREDIT UNION is a federal credit union headquartered in MORRISVILLE, NC with 6 branch locations and about $95.30 million in total assets. Opened 47 years ago in 1974, WELCOME FEDERAL CREDIT UNION has about 7,136 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:7,136
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:$95,301,321
CEO/Manager:Stacey W Mills
Chairperson:Gordon Bailey

Call Report

  • International Remittances
  • Low Cost Wire Transfers

Financial Summary

» See also Statement of Financial Condition
ASSETS:$ Amount
Cash & Equivalents 18,019,246
TOTAL INVESTMENTS 15,352,090
Loans Held for Sale 0
 
 Real Estate Loans 20,102,255
 Unsecured Loans 2,596,252
 Other Loans 29,227,514
 TOTAL LOANS 56,059,331
 (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) -109,630
 Land And Building 4,246,540
 Other Fixed Assets 93,387
 NCUSIF Deposit 750,629
 All Other Assets 889,728
  TOTAL ASSETS 95,301,321
LIABILITIES & CAPITAL:  
 Dividends Payable 6,720
 Notes & Interest Payable 0
 Accounts Payable & Other Liabilities 887,471
 Uninsured Secondary Capital and Subordinated Debt Included in Net Worth 0
 Share Drafts 14,321,215
 Regular shares 48,469,517
 All Other Shares & Deposits 20,086,279
  TOTAL SHARES & DEPOSITS 82,877,011
  TOTAL LIABILITIES 83,771,202
 Regular Reserve 4,244,995
 Other Reserves 0
 Undivided Earnings 7,285,124
  TOTAL EQUITY 11,530,119
  TOTAL LIABILITIES, SHARES, & EQUITY 95,301,321
INCOME & EXPENSE  
 Loan Income 1,332,943
 Investment Income 114,330
 Other Income 143,300
 Total Employee Compensation & Benefits 931,483
 NCUSIF Premiums Expense 0
 Total Other Operating Expenses 806,909
 Non-operating Income & (Expense) -24
 NCUSIF Stabilization Income N/A
 Provision for Loan/Lease Losses or Total Credit Loss Expense -57,100
 Cost of Funds 95,005
 NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM N/A
Net Income (Loss) 35,877
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