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WELCOME FEDERAL CREDIT UNION

Mar, 31, 2021 — WELCOME FEDERAL CREDIT UNION is a federal credit union headquartered in MORRISVILLE, NC with 6 branch locations and about $99.75 million in total assets. Opened 47 years ago in 1974, WELCOME FEDERAL CREDIT UNION has about 7,261 members and employs 24 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:7,261
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:$99,745,243
CEO/Manager:Stacey W Mills
Chairperson:Gordon Bailey

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 19,856,025
TOTAL INVESTMENTS 16,215,544
Loans Held for Sale 0
 
 Real Estate Loans 20,855,769
 Unsecured Loans 2,557,220
 Other Loans 30,404,493
 TOTAL LOANS 57,587,372
 (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) -145,964
 Land And Building 4,275,778
 Other Fixed Assets 102,021
 NCUSIF Deposit 750,629
 All Other Assets 1,103,838
  TOTAL ASSETS 99,745,243
LIABILITIES & CAPITAL:  
 Dividends Payable 32,732
 Notes & Interest Payable 0
 Accounts Payable & Other Liabilities 841,420
 Uninsured Secondary Capital and Subordinated Debt Included in Net Worth 0
 Share Drafts 17,220,975
 Regular shares 47,736,502
 All Other Shares & Deposits 22,413,101
  TOTAL SHARES & DEPOSITS 87,370,578
  TOTAL LIABILITIES 88,244,730
 Regular Reserve 4,244,995
 Other Reserves 0
 Undivided Earnings 7,255,518
  TOTAL EQUITY 11,500,513
  TOTAL LIABILITIES, SHARES, & EQUITY 99,745,243
INCOME & EXPENSE  
 Loan Income 665,109
 Investment Income 58,271
 Other Income 74,417
 Total Employee Compensation & Benefits 464,331
 NCUSIF Premiums Expense 0
 Total Other Operating Expenses 402,227
 Non-operating Income & (Expense) 0
 NCUSIF Stabilization Income N/A
 Provision for Loan/Lease Losses or Total Credit Loss Expense -18,983
 Cost of Funds 48,267
 NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM N/A
Net Income (Loss) 6,271
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