Sep, 30, 2025 — WES CREDIT UNION is a federally insured state chartered credit union headquartered in WILLOUGHBY, OH with 2 branch locations and about $13.68 million in total assets. Opened 72 years ago in 1954, WES CREDIT UNION has about 1,545 members and employs 4 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.
| Name: | WES CREDIT UNION |
|---|---|
| Address: (Main Office) | 38024 2nd St WILLOUGHBY, OH 44094-6105 |
| Phone: | (440) 942-6981 |
| Fax: | (440) 918-9681 |
| Website: | https://www.wescreditunion.com |
| Branches: | 2 branch locations |
| Members: | 1,545 |
| Credit Union Type: | Federally Insured State Chartered Credit Union |
| Charter Number: | 61233 |
|---|---|
| Membership Type: | State chartered natural person |
| Corporate Credit Union: | No |
| Year Opened: | 1954 |
| Last Audited: | Nov 01, 2024 |
| FHLB Member: | No |
| Low Income Designation: | No |
| Assets: | $13,678,340 |
| CEO/Manager: | Steven M Simone |
| Chairperson: | Michelle Augusta |
| ASSETS: | $ Amount |
|---|---|
| Cash & Equivalents | 856,818 |
| TOTAL INVESTMENTS | 0 |
| Loans Held for Sale | 0 |
| Real Estate Loans | 0 |
| Unsecured Loans | 549,114 |
| Other Loans | 2,895,884 |
| TOTAL LOANS | 3,444,998 |
| (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -35,265 |
| Land And Building | 28,401 |
| Other Fixed Assets | 130,051 |
| NCUSIF (National Credit Union Share Insurance Fund) Deposit | 128,155 |
| All Other Assets | 0 |
| TOTAL ASSETS | 13,678,340 |
| LIABILITIES & CAPITAL: | |
| Dividends Payable | 11,698 |
| Notes & Interest Payable | 0 |
| Accounts Payable & Other Liabilities | 4,944 |
| Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
| Share Drafts | 2,324,616 |
| Regular shares | 9,078,518 |
| All Other Shares & Deposits | 883,174 |
| TOTAL SHARES & DEPOSITS | 12,286,308 |
| TOTAL LIABILITIES | 12,302,950 |
| Regular Reserve | 0 |
| Other Reserves | 29,017 |
| Undivided Earnings | 1,346,373 |
| TOTAL EQUITY | 1,375,390 |
| TOTAL LIABILITIES, SHARES, & EQUITY | 13,678,340 |
| INCOME & EXPENSE | |
| Loan Income | 156,869 |
| Investment Income | 239,465 |
| Other Income | 14,341 |
| Total Employee Compensation & Benefits | 129,896 |
| NCUSIF (National Credit Union Share Insurance Fund) Premiums Expense | 0 |
| Total Other Operating Expenses | 188,081 |
| Non-operating Income & (Expense) | 0 |
| NCUSIF Stabilization Income | N/A |
| Provision for Loan/Lease Losses or Total Credit Loss Expense | 19,608 |
| Cost of Funds | 18,836 |
| NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
| Net Income (Loss) | 75,370 |
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