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National Credit Union Service Organization

COMMUNITY 1ST CREDIT UNION

Dec, 31, 2023 — COMMUNITY 1ST CREDIT UNION is a federally insured state chartered credit union headquartered in DUPONT, WA with 5 branch locations and about $205.37 million in total assets. Opened 90 years ago in 1934, COMMUNITY 1ST CREDIT UNION has about 13,202 members and employs 49 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:13,202
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, 2022
FHLB Member:No
Low Income Designation:No
Assets:$205,367,767
CEO/Manager:Daniel M LeFree
Chairperson:Frank Worden

Call Report

Financial Summary

» See also Statement of Financial Condition
ASSETS:$ Amount
Cash & Equivalents 39,707,653
TOTAL INVESTMENTS 0
Loans Held for Sale 0
 
 Real Estate Loans 4,924,765
 Unsecured Loans 3,593,388
 Other Loans 143,036,177
 TOTAL LOANS 151,554,329
 (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) -1,432,378
 Land And Building 9,309,628
 Other Fixed Assets 1,450,219
 NCUSIF Deposit 1,822,950
 All Other Assets 6,897
  TOTAL ASSETS 205,367,767
LIABILITIES & CAPITAL:  
 Dividends Payable 56,743
 Notes & Interest Payable 0
 Accounts Payable & Other Liabilities 5,490,775
 Uninsured Secondary Capital and Subordinated Debt Included in Net Worth 0
 Share Drafts 31,137,504
 Regular shares 58,476,387
 All Other Shares & Deposits 89,153,831
  TOTAL SHARES & DEPOSITS 178,767,723
  TOTAL LIABILITIES 184,315,241
 Regular Reserve 0
 Other Reserves 1,693,044
 Undivided Earnings 19,359,482
  TOTAL EQUITY 21,052,526
  TOTAL LIABILITIES, SHARES, & EQUITY 205,367,767
INCOME & EXPENSE  
 Loan Income 8,811,385
 Investment Income 1,865,003
 Other Income 552,701
 Total Employee Compensation & Benefits 4,074,451
 NCUSIF Premiums Expense 0
 Total Other Operating Expenses 3,779,145
 Non-operating Income & (Expense) -327,976
 NCUSIF Stabilization Income N/A
 Provision for Loan/Lease Losses or Total Credit Loss Expense 252,254
 Cost of Funds 2,870,963
 NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM N/A
Net Income (Loss) 924,329
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