Dec, 31, 2023 — WEDEVELOPMENT FEDERAL CREDIT UNION is a federal credit union headquartered in KANSAS CITY, MO with 1 branch location and about $3.09 million in total assets. Opened 2 years ago in 2022, WEDEVELOPMENT FEDERAL CREDIT UNION has about 306 members and employs 4 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.
| Name: | WEDEVELOPMENT FEDERAL CREDIT UNION |
|---|---|
| Address: (Main Office) | 3123 Prospect Ave KANSAS CITY, MO 64128 |
| Phone: | (816) 401-4979 |
| Fax: | |
| Website: | https://wedevelopmentfcu.com |
| Branches: | 1 branch locations |
| Members: | 306 |
| Credit Union Type: | Federal Credit Union |
| Charter Number: | 24937 |
|---|---|
| Membership Type: | Community credit unions, urban or rural, other than those designated 'low income' |
| Corporate Credit Union: | No |
| Year Opened: | 2022 |
| Last Audited: | Jan 01, 2022 |
| FHLB Member: | No |
| Low Income Designation: | No |
| Assets: | $3,086,656 |
| CEO/Manager: | Gwendolyn Washington |
| Chairperson: | Ajamu Webster |
| ASSETS: | $ Amount |
|---|---|
| Cash & Equivalents | 1,133,931 |
| TOTAL INVESTMENTS | 0 |
| Loans Held for Sale | 0 |
| Real Estate Loans | 0 |
| Unsecured Loans | 232,163 |
| Other Loans | 384,721 |
| TOTAL LOANS | 616,884 |
| (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -21,964 |
| Land And Building | 0 |
| Other Fixed Assets | 603,564 |
| NCUSIF Deposit | 488 |
| All Other Assets | 7,116 |
| TOTAL ASSETS | 3,086,656 |
| LIABILITIES & CAPITAL: | |
| Dividends Payable | 0 |
| Notes & Interest Payable | 0 |
| Accounts Payable & Other Liabilities | 3,493 |
| Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
| Share Drafts | 36,956 |
| Regular shares | 133,225 |
| All Other Shares & Deposits | 2,222,572 |
| TOTAL SHARES & DEPOSITS | 2,392,753 |
| TOTAL LIABILITIES | 2,396,246 |
| Regular Reserve | 0 |
| Other Reserves | 0 |
| Undivided Earnings | 690,410 |
| TOTAL EQUITY | 690,410 |
| TOTAL LIABILITIES, SHARES, & EQUITY | 3,086,656 |
| INCOME & EXPENSE | |
| Loan Income | 27,869 |
| Investment Income | 51,971 |
| Other Income | 11,792 |
| Total Employee Compensation & Benefits | 216,760 |
| NCUSIF Premiums Expense | 0 |
| Total Other Operating Expenses | 269,572 |
| Non-operating Income & (Expense) | 147,650 |
| NCUSIF Stabilization Income | N/A |
| Provision for Loan/Lease Losses or Total Credit Loss Expense | 31,744 |
| Cost of Funds | 20,862 |
| NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
| Net Income (Loss) | -299,656 |
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