WASHTENAW FEDERAL CREDIT UNION is no longer an active credit union according to the NCUA. If available, you can view their website at https://washtenawfcu.org for more information.
Dec, 31, 2023 — WASHTENAW FEDERAL CREDIT UNION is a federal credit union headquartered in YPSILANTI, MI with 2 branch locations and about $51.54 million in total assets. Opened 75 years ago in 1949, WASHTENAW FEDERAL CREDIT UNION has about 6,108 members and employs 16 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.
| Name: | WASHTENAW FEDERAL CREDIT UNION |
|---|---|
| Address: (Main Office) | 424 S MANSFIELD ST YPSILANTI, MI 48197 |
| Phone: | (734) 484-5100 |
| Fax: | (734) 484-1517 |
| Website: | https://washtenawfcu.org |
| Branches: | 2 branch locations |
| Members: | 6,108 |
| Credit Union Type: | Federal Credit Union |
| Charter Number: | 6407 |
|---|---|
| Membership Type: | Community credit unions, urban or rural, other than those designated 'low income' |
| Corporate Credit Union: | No |
| Year Opened: | 1949 |
| Last Audited: | Jun 01, 2020 |
| FHLB Member: | No |
| Low Income Designation: | No |
| Assets: | $51,540,671 |
| CEO/Manager: | Jason W Matley |
| Chairperson: | Robert E Oliver |
| ASSETS: | $ Amount |
|---|---|
| Cash & Equivalents | 16,291,904 |
| TOTAL INVESTMENTS | 4,825,300 |
| Loans Held for Sale | 0 |
| Real Estate Loans | 13,834,380 |
| Unsecured Loans | 6,597,859 |
| Other Loans | 6,918,730 |
| TOTAL LOANS | 27,350,969 |
| (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -99,074 |
| Land And Building | 1,627,957 |
| Other Fixed Assets | 0 |
| NCUSIF Deposit | 381,960 |
| All Other Assets | 1,161,655 |
| TOTAL ASSETS | 51,540,671 |
| LIABILITIES & CAPITAL: | |
| Dividends Payable | 639 |
| Notes & Interest Payable | 0 |
| Accounts Payable & Other Liabilities | 496,440 |
| Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
| Share Drafts | 11,142,270 |
| Regular shares | 23,206,670 |
| All Other Shares & Deposits | 12,952,237 |
| TOTAL SHARES & DEPOSITS | 47,301,177 |
| TOTAL LIABILITIES | 47,798,256 |
| Regular Reserve | 452,015 |
| Other Reserves | 0 |
| Undivided Earnings | 3,290,400 |
| TOTAL EQUITY | 3,742,415 |
| TOTAL LIABILITIES, SHARES, & EQUITY | 51,540,671 |
| INCOME & EXPENSE | |
| Loan Income | 1,211,758 |
| Investment Income | 191,530 |
| Other Income | 603,181 |
| Total Employee Compensation & Benefits | 877,770 |
| NCUSIF Premiums Expense | 0 |
| Total Other Operating Expenses | 1,010,844 |
| Non-operating Income & (Expense) | 0 |
| NCUSIF Stabilization Income | N/A |
| Provision for Loan/Lease Losses or Total Credit Loss Expense | 31,611 |
| Cost of Funds | 26,631 |
| NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
| Net Income (Loss) | 59,613 |
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» See also Statement of Financial Condition