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WELCOME FEDERAL CREDIT UNION

Jun, 30, 2023 — WELCOME FEDERAL CREDIT UNION is a federal credit union headquartered in MORRISVILLE, NC with 6 branch locations and about $97.13 million in total assets. Opened 50 years ago in 1974, WELCOME FEDERAL CREDIT UNION has about 6,991 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)
10810 Chapel Hill Rd
MORRISVILLE, NC 27560
Phone:(919) 474-3240
Fax:(919) 474-0562
Website:https://www.welcomecu.org
Branches:6 branch locations
Members:6,991
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, 2021
FHLB Member:Yes
Low Income Designation:No
Assets:$97,128,101
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 6,009,302
TOTAL INVESTMENTS 0
Loans Held for Sale 0
 
 Real Estate Loans 19,874,174
 Unsecured Loans 2,583,334
 Other Loans 32,876,797
 TOTAL LOANS 61,156,636
 (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) -175,815
 Land And Building 4,071,108
 Other Fixed Assets 71,187
 NCUSIF Deposit 775,261
 All Other Assets 0
  TOTAL ASSETS 97,128,101
LIABILITIES & CAPITAL:  
 Dividends Payable 373
 Notes & Interest Payable 2,000,000
 Accounts Payable & Other Liabilities -153,022
 Uninsured Secondary Capital and Subordinated Debt Included in Net Worth 0
 Share Drafts 14,597,147
 Regular shares 48,729,705
 All Other Shares & Deposits 20,435,349
  TOTAL SHARES & DEPOSITS 83,762,201
  TOTAL LIABILITIES 85,609,552
 Regular Reserve 0
 Other Reserves 0
 Undivided Earnings 11,518,549
  TOTAL EQUITY 11,518,549
  TOTAL LIABILITIES, SHARES, & EQUITY 97,128,101
INCOME & EXPENSE  
 Loan Income 1,835,849
 Investment Income 213,503
 Other Income 252,309
 Total Employee Compensation & Benefits 1,465,696
 NCUSIF Premiums Expense 0
 Total Other Operating Expenses 1,402,248
 Non-operating Income & (Expense) 0
 NCUSIF Stabilization Income N/A
 Provision for Loan/Lease Losses or Total Credit Loss Expense 157,296
 Cost of Funds 75,395
 NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM N/A
Net Income (Loss) -187,730
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