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WELCOME FEDERAL CREDIT UNION

Sep, 30, 2021 — WELCOME FEDERAL CREDIT UNION is a federal credit union headquartered in MORRISVILLE, NC with 6 branch locations and about $97.77 million in total assets. Opened 48 years ago in 1974, WELCOME FEDERAL CREDIT UNION has about 6,887 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:6,887
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:$97,769,536
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 21,300,674
TOTAL INVESTMENTS 16,062,469
Loans Held for Sale 0
 
 Real Estate Loans 19,196,713
 Unsecured Loans 2,602,555
 Other Loans 28,698,623
 TOTAL LOANS 54,374,276
 (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) -117,966
 Land And Building 4,217,302
 Other Fixed Assets 87,936
 NCUSIF Deposit 750,629
 All Other Assets 1,094,216
  TOTAL ASSETS 97,769,536
LIABILITIES & CAPITAL:  
 Dividends Payable 821
 Notes & Interest Payable 0
 Accounts Payable & Other Liabilities 1,564,430
 Uninsured Secondary Capital and Subordinated Debt Included in Net Worth 0
 Share Drafts 14,480,789
 Regular shares 50,524,169
 All Other Shares & Deposits 19,432,007
  TOTAL SHARES & DEPOSITS 84,436,965
  TOTAL LIABILITIES 86,002,216
 Regular Reserve 4,244,994
 Other Reserves 0
 Undivided Earnings 7,522,326
  TOTAL EQUITY 11,767,320
  TOTAL LIABILITIES, SHARES, & EQUITY 97,769,536
INCOME & EXPENSE  
 Loan Income 1,960,028
 Investment Income 167,498
 Other Income 223,720
 Total Employee Compensation & Benefits 1,343,165
 NCUSIF Premiums Expense 0
 Total Other Operating Expenses 1,254,587
 Non-operating Income & (Expense) 3,656
 NCUSIF Stabilization Income N/A
 Provision for Loan/Lease Losses or Total Credit Loss Expense -51,964
 Cost of Funds 123,783
 NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM N/A
Net Income (Loss) 273,078
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