Dec, 31, 2023 — NORTHWEST FEDERAL CREDIT UNION is a federal credit union headquartered in HERNDON, VA with 11 branch locations and about $4.56 billion in total assets. Opened 77 years ago in 1947, NORTHWEST FEDERAL CREDIT UNION has about 285,245 members and employs 545 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 |
|---|---|
| Address: (Main Office) | 200 Spring St HERNDON, VA 20170 |
| Phone: | (703) 709-8900 |
| Fax: | (703) 709-9484 |
| Website: | https://www.nwfcu.org |
| Branches: | 11 branch locations |
| Members: | 285,245 |
| Credit Union Type: | Federal Credit Union |
| Charter Number: | 5500 |
|---|---|
| Membership Type: | Multiple common bond - Primarily federal, state, local government |
| Corporate Credit Union: | No |
| Year Opened: | 1947 |
| Last Audited: | Dec 01, 2022 |
| FHLB Member: | Yes |
| Low Income Designation: | No |
| Assets: | $4,564,738,416 |
| CEO/Manager: | Jeff Bentley |
| Chairperson: | Gerrianne Burks |
| ASSETS: | $ Amount |
|---|---|
| Cash & Equivalents | 510,712,825 |
| TOTAL INVESTMENTS | 0 |
| Loans Held for Sale | 1,981,100 |
| Real Estate Loans | 1,067,925,921 |
| Unsecured Loans | 133,536,592 |
| Other Loans | 1,683,750,363 |
| TOTAL LOANS | 2,885,326,582 |
| (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -25,736,854 |
| Land And Building | 33,126,536 |
| Other Fixed Assets | 16,145,048 |
| NCUSIF Deposit | 28,541,384 |
| All Other Assets | 271,991 |
| TOTAL ASSETS | 4,564,738,416 |
| LIABILITIES & CAPITAL: | |
| Dividends Payable | 0 |
| Notes & Interest Payable | 715,162,866 |
| Accounts Payable & Other Liabilities | 109,766,212 |
| Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
| Share Drafts | 731,377,029 |
| Regular shares | 726,827,316 |
| All Other Shares & Deposits | 1,906,546,498 |
| TOTAL SHARES & DEPOSITS | 3,364,750,843 |
| TOTAL LIABILITIES | 4,189,679,921 |
| Regular Reserve | 0 |
| Other Reserves | -98,706,380 |
| Undivided Earnings | 473,764,875 |
| TOTAL EQUITY | 375,058,495 |
| TOTAL LIABILITIES, SHARES, & EQUITY | 4,564,738,416 |
| INCOME & EXPENSE | |
| Loan Income | 128,110,212 |
| Investment Income | 50,278,417 |
| Other Income | 6,481,653 |
| Total Employee Compensation & Benefits | 72,018,852 |
| NCUSIF Premiums Expense | 0 |
| Total Other Operating Expenses | 51,631,827 |
| Non-operating Income & (Expense) | 1,216,850 |
| NCUSIF Stabilization Income | N/A |
| Provision for Loan/Lease Losses or Total Credit Loss Expense | 2,501,390 |
| Cost of Funds | 69,317,473 |
| NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
| Net Income (Loss) | 28,617,509 |
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