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WASHTENAW FEDERAL CREDIT UNION

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

Call Report

  • Commercial Loans
  • Indirect Commercial Loans
  • Indirect Consumer Loans
  • Indirect Mortgage Loans
  • Micro Business Loans
  • Overdraft Lines of Credit
  • Overdraft Protection
  • Participation Loans
  • Pay Day Loans
  • Real Estate Loans
  • Risk Based Loans
  • Share Secured Credit Cards
  • Payday Alternative Loans (PAL Loans)
  • ATM/Debit Card Program
  • Commercial Share Accounts
  • Check Cashing
  • Health Savings Accounts
  • Low Cost Wire Transfers

Financial Summary

» See also Statement of Financial Condition
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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