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National Credit Union Service Organization

COMMUNITY 1ST CREDIT UNION

Dec, 31, 2021 — COMMUNITY 1ST CREDIT UNION is a federally insured state chartered credit union headquartered in DUPONT, WA with 5 branch locations and about $215.11 million in total assets. Opened 88 years ago in 1934, COMMUNITY 1ST CREDIT UNION has about 14,524 members and employs 57 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.


Name:COMMUNITY 1ST CREDIT UNION
Address:
(Main Office)
955 Ross Loop
DUPONT, WA 98327
Phone:(253) 722-5212
Fax:(253) 476-4807
Website:https://www.myc1cu.com
Branches:5 branch locations
Members:14,524
Credit Union Type:Federally Insured State Chartered Credit Union
Charter Number:60079
Membership Type:State chartered natural person
Corporate Credit Union:No
Year Opened:1934
Last Audited:Sep 01, 2021
FHLB Member:No
Low Income Designation:No
Assets:$215,109,348
CEO/Manager:William W Paulen
Chairperson:Frank Worden

Call Report

Financial Summary

» See also Statement of Financial Condition
ASSETS:$ Amount
Cash & Equivalents 63,917,504
TOTAL INVESTMENTS 361,707
Loans Held for Sale 0
 
 Real Estate Loans 5,430,743
 Unsecured Loans 3,731,039
 Other Loans 126,731,164
 TOTAL LOANS 135,892,946
 (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) -682,722
 Land And Building 9,366,889
 Other Fixed Assets 1,190,676
 NCUSIF Deposit 1,658,644
 All Other Assets 3,403,704
  TOTAL ASSETS 215,109,348
LIABILITIES & CAPITAL:  
 Dividends Payable 6,428
 Notes & Interest Payable 0
 Accounts Payable & Other Liabilities 5,451,177
 Uninsured Secondary Capital and Subordinated Debt Included in Net Worth 0
 Share Drafts 35,027,070
 Regular shares 74,041,547
 All Other Shares & Deposits 80,403,887
  TOTAL SHARES & DEPOSITS 189,472,504
  TOTAL LIABILITIES 194,930,109
 Regular Reserve 4,204,273
 Other Reserves 1,693,044
 Undivided Earnings 14,281,922
  TOTAL EQUITY 20,179,239
  TOTAL LIABILITIES, SHARES, & EQUITY 215,109,348
INCOME & EXPENSE  
 Loan Income 6,772,193
 Investment Income 70,123
 Other Income 981,179
 Total Employee Compensation & Benefits 3,806,189
 NCUSIF Premiums Expense 0
 Total Other Operating Expenses 3,222,277
 Non-operating Income & (Expense) 46,664
 NCUSIF Stabilization Income N/A
 Provision for Loan/Lease Losses or Total Credit Loss Expense -40,000
 Cost of Funds 843,876
 NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM N/A
Net Income (Loss) 1,060,301
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