Jun, 30, 2024 — NORTHWEST FEDERAL CREDIT UNION is a federal credit union headquartered in HERNDON, VA with 10 branch locations and about $4.18 billion in total assets. Opened 78 years ago in 1947, NORTHWEST FEDERAL CREDIT UNION has about 274,025 members and employs 592 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.
Name: | NORTHWEST FEDERAL CREDIT UNION |
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Address: (Main Office) | 200 Spring St HERNDON, VA 20170 |
Phone: | (703) 709-8900 |
Fax: | (703) 709-9484 |
Website: | https://www.nwfcu.org |
Branches: | 10 branch locations |
Members: | 274,025 |
Credit Union Type: | Federal Credit Union |
Charter Number: | 5500 |
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Membership Type: | Multiple common bond - Primarily federal, state, local government |
Corporate Credit Union: | No |
Year Opened: | 1947 |
Last Audited: | Dec 01, 2021 |
FHLB Member: | Yes |
Low Income Designation: | No |
Assets: | $4,179,646,287 |
CEO/Manager: | Jeff Bentley |
Chairperson: | Gerrianne Burks |
ASSETS: | $ Amount |
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Cash & Equivalents | 94,681,561 |
TOTAL INVESTMENTS | 0 |
Loans Held for Sale | 1,554,617 |
Real Estate Loans | 1,005,053,647 |
Unsecured Loans | 139,036,305 |
Other Loans | 1,677,058,199 |
TOTAL LOANS | 2,821,432,793 |
(Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -8,419,805 |
Land And Building | 34,294,553 |
Other Fixed Assets | 15,182,000 |
NCUSIF Deposit | 29,210,325 |
All Other Assets | 0 |
TOTAL ASSETS | 4,179,646,287 |
LIABILITIES & CAPITAL: | |
Dividends Payable | 0 |
Notes & Interest Payable | 149,000,000 |
Accounts Payable & Other Liabilities | 94,614,715 |
Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
Share Drafts | 785,645,868 |
Regular shares | 862,506,186 |
All Other Shares & Deposits | 1,946,979,966 |
TOTAL SHARES & DEPOSITS | 3,595,132,020 |
TOTAL LIABILITIES | 3,838,746,735 |
Regular Reserve | 0 |
Other Reserves | -116,440,932 |
Undivided Earnings | 457,340,484 |
TOTAL EQUITY | 340,899,552 |
TOTAL LIABILITIES, SHARES, & EQUITY | 4,179,646,287 |
INCOME & EXPENSE | |
Loan Income | 70,994,492 |
Investment Income | 11,996,500 |
Other Income | 5,540,822 |
Total Employee Compensation & Benefits | 56,383,542 |
NCUSIF Premiums Expense | 0 |
Total Other Operating Expenses | 35,160,733 |
Non-operating Income & (Expense) | 1,964,880 |
NCUSIF Stabilization Income | N/A |
Provision for Loan/Lease Losses or Total Credit Loss Expense | -3,791,803 |
Cost of Funds | 12,323,862 |
NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
Net Income (Loss) | 22,985,457 |
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