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WELCOME FEDERAL CREDIT UNION

Mar, 31, 2022 — WELCOME FEDERAL CREDIT UNION is a federal credit union headquartered in MORRISVILLE, NC with 6 branch locations and about $101.73 million in total assets. Opened 48 years ago in 1974, WELCOME FEDERAL CREDIT UNION has about 7,010 members and employs 23 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:http://www.welcomecu.org
Branches:6 branch locations
Members:7,010
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:$101,733,184
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 22,313,675
TOTAL INVESTMENTS 0
Loans Held for Sale 0
 
 Real Estate Loans 18,517,383
 Unsecured Loans 2,452,223
 Other Loans 26,987,504
 TOTAL LOANS 52,096,260
 (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) -84,104
 Land And Building 4,129,584
 Other Fixed Assets 74,879
 NCUSIF Deposit 778,871
 All Other Assets 10,500
  TOTAL ASSETS 101,733,184
LIABILITIES & CAPITAL:  
 Dividends Payable 398
 Notes & Interest Payable 0
 Accounts Payable & Other Liabilities 1,412,790
 Uninsured Secondary Capital and Subordinated Debt Included in Net Worth 0
 Share Drafts 17,414,130
 Regular shares 50,691,294
 All Other Shares & Deposits 20,539,107
  TOTAL SHARES & DEPOSITS 88,644,531
  TOTAL LIABILITIES 90,057,719
 Regular Reserve 0
 Other Reserves 0
 Undivided Earnings 11,675,465
  TOTAL EQUITY 11,675,465
  TOTAL LIABILITIES, SHARES, & EQUITY 101,733,184
INCOME & EXPENSE  
 Loan Income 590,496
 Investment Income 34,143
 Other Income 82,142
 Total Employee Compensation & Benefits 470,240
 NCUSIF Premiums Expense 0
 Total Other Operating Expenses 427,776
 Non-operating Income & (Expense) 58,337
 NCUSIF Stabilization Income N/A
 Provision for Loan/Lease Losses or Total Credit Loss Expense -1,781
 Cost of Funds 23,859
 NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM N/A
Net Income (Loss) -30,814
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