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WAYNE-WESTLAND FEDERAL CREDIT UNION

Dec, 31, 2023 — WAYNE-WESTLAND FEDERAL CREDIT UNION is a federal credit union headquartered in WESTLAND, MI with 1 branch location and about $143.97 million in total assets. Opened 76 years ago in 1948, WAYNE-WESTLAND FEDERAL CREDIT UNION has about 11,016 members and employs 33 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: 272485932
Name:WAYNE-WESTLAND FEDERAL CREDIT UNION
Address:
(Main Office)
500 S Wayne Rd
WESTLAND, MI 48186-4361
Phone:(734) 721-5700
Fax:(734) 721-5390
Website:https://www.wwfcu.org
Branches:1 branch locations
Members:11,016
Credit Union Type:Federal Credit Union
Charter Number:5928
Membership Type:Community credit unions, urban or rural, other than those designated 'low income'
Corporate Credit Union:No
Year Opened:1948
Last Audited:Apr 01, 2023
FHLB Member:Yes
Low Income Designation:No
Assets:$143,967,304
CEO/Manager:Joleen Bowman
Chairperson:Diane Fritz

Call Report

  • Low Cost Wire Transfers

Financial Summary

» See also Statement of Financial Condition
ASSETS:$ Amount
Cash & Equivalents 15,106,967
TOTAL INVESTMENTS 0
Loans Held for Sale 0
 
 Real Estate Loans 32,416,329
 Unsecured Loans 6,428,613
 Other Loans 34,080,170
 TOTAL LOANS 72,925,113
 (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) -865,142
 Land And Building 2,626,946
 Other Fixed Assets 369,911
 NCUSIF Deposit 1,341,243
 All Other Assets 43,252
  TOTAL ASSETS 143,967,304
LIABILITIES & CAPITAL:  
 Dividends Payable 81,906
 Notes & Interest Payable 0
 Accounts Payable & Other Liabilities 948,926
 Uninsured Secondary Capital and Subordinated Debt Included in Net Worth 0
 Share Drafts 27,646,484
 Regular shares 65,190,696
 All Other Shares & Deposits 42,278,555
  TOTAL SHARES & DEPOSITS 135,115,735
  TOTAL LIABILITIES 136,146,567
 Regular Reserve 0
 Other Reserves -6,002,406
 Undivided Earnings 13,823,143
  TOTAL EQUITY 7,820,737
  TOTAL LIABILITIES, SHARES, & EQUITY 143,967,304
INCOME & EXPENSE  
 Loan Income 3,611,264
 Investment Income 1,242,667
 Other Income 1,642,750
 Total Employee Compensation & Benefits 2,257,072
 NCUSIF Premiums Expense 0
 Total Other Operating Expenses 2,407,861
 Non-operating Income & (Expense) 43,610
 NCUSIF Stabilization Income N/A
 Provision for Loan/Lease Losses or Total Credit Loss Expense 249,596
 Cost of Funds 402,990
 NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM N/A
Net Income (Loss) 1,504,683
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