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National Credit Union Service Organization

COMMUNITY 1ST CREDIT UNION

Mar, 31, 2022 — COMMUNITY 1ST CREDIT UNION is a federally insured state chartered credit union headquartered in DUPONT, WA with 5 branch locations and about $218.57 million in total assets. Opened 88 years ago in 1934, COMMUNITY 1ST CREDIT UNION has about 14,452 members and employs 53 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:14,452
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:$218,565,938
CEO/Manager:William W Paulen
Chairperson:Frank Worden

Call Report

Financial Summary

» See also Statement of Financial Condition
ASSETS:$ Amount
Cash & Equivalents 62,894,493
TOTAL INVESTMENTS 0
Loans Held for Sale 0
 
 Real Estate Loans 5,278,634
 Unsecured Loans 3,648,464
 Other Loans 130,407,947
 TOTAL LOANS 139,335,045
 (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) -668,903
 Land And Building 9,344,622
 Other Fixed Assets 1,166,314
 NCUSIF Deposit 1,658,644
 All Other Assets 34,786
  TOTAL ASSETS 218,565,938
LIABILITIES & CAPITAL:  
 Dividends Payable 6,570
 Notes & Interest Payable 0
 Accounts Payable & Other Liabilities 6,073,897
 Uninsured Secondary Capital and Subordinated Debt Included in Net Worth 0
 Share Drafts 35,446,773
 Regular shares 75,335,297
 All Other Shares & Deposits 81,425,523
  TOTAL SHARES & DEPOSITS 192,207,593
  TOTAL LIABILITIES 198,288,060
 Regular Reserve 0
 Other Reserves 1,693,044
 Undivided Earnings 18,584,834
  TOTAL EQUITY 20,277,878
  TOTAL LIABILITIES, SHARES, & EQUITY 218,565,938
INCOME & EXPENSE  
 Loan Income 1,796,965
 Investment Income 29,518
 Other Income 169,050
 Total Employee Compensation & Benefits 1,052,260
 NCUSIF Premiums Expense 0
 Total Other Operating Expenses 882,505
 Non-operating Income & (Expense) 27,257
 NCUSIF Stabilization Income N/A
 Provision for Loan/Lease Losses or Total Credit Loss Expense 0
 Cost of Funds 228,793
 NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM N/A
Net Income (Loss) 98,640
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