Dec, 31, 2023 — WESCOM CENTRAL CREDIT UNION is a federally insured state chartered credit union headquartered in PASADENA, CA with 25 branch locations and about $5.82 billion in total assets. Opened 90 years ago in 1934, WESCOM CENTRAL CREDIT UNION has about 229,317 members and employs 926 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.
| Name: | WESCOM CENTRAL CREDIT UNION |
|---|---|
| Address: (Main Office) | 123 S Marengo Ave PASADENA, CA 91101 |
| Phone: | (888) 493-7266 |
| Fax: | |
| Website: | https://www.wescom.org |
| Branches: | 25 branch locations |
| Members: | 229,317 |
| Credit Union Type: | Federally Insured State Chartered Credit Union |
| Charter Number: | 66703 |
|---|---|
| Membership Type: | State chartered natural person |
| Corporate Credit Union: | No |
| Year Opened: | 1934 |
| Last Audited: | Dec 01, 2022 |
| FHLB Member: | Yes |
| Low Income Designation: | No |
| Assets: | $5,820,504,418 |
| CEO/Manager: | Darren Williams |
| Chairperson: | Noel Ross |
| ASSETS: | $ Amount |
|---|---|
| Cash & Equivalents | 200,749,446 |
| TOTAL INVESTMENTS | 0 |
| Loans Held for Sale | 0 |
| Real Estate Loans | 2,336,213,506 |
| Unsecured Loans | 290,154,226 |
| Other Loans | 573,651,663 |
| TOTAL LOANS | 3,200,019,395 |
| (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -43,506,885 |
| Land And Building | 30,756,397 |
| Other Fixed Assets | 97,596,740 |
| NCUSIF Deposit | 40,240,435 |
| All Other Assets | 0 |
| TOTAL ASSETS | 5,820,504,418 |
| LIABILITIES & CAPITAL: | |
| Dividends Payable | 1,120,928 |
| Notes & Interest Payable | 1,105,000,000 |
| Accounts Payable & Other Liabilities | 199,994,484 |
| Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
| Share Drafts | 866,473,589 |
| Regular shares | 1,403,667,490 |
| All Other Shares & Deposits | 1,992,122,561 |
| TOTAL SHARES & DEPOSITS | 4,262,263,640 |
| TOTAL LIABILITIES | 5,569,859,052 |
| Regular Reserve | 0 |
| Other Reserves | -203,732,714 |
| Undivided Earnings | 454,378,080 |
| TOTAL EQUITY | 250,645,366 |
| TOTAL LIABILITIES, SHARES, & EQUITY | 5,820,504,418 |
| INCOME & EXPENSE | |
| Loan Income | 155,288,060 |
| Investment Income | 96,991,502 |
| Other Income | 13,824,913 |
| Total Employee Compensation & Benefits | 104,722,900 |
| NCUSIF Premiums Expense | 0 |
| Total Other Operating Expenses | 89,280,057 |
| Non-operating Income & (Expense) | 193,729 |
| NCUSIF Stabilization Income | N/A |
| Provision for Loan/Lease Losses or Total Credit Loss Expense | 6,500,000 |
| Cost of Funds | 97,850,082 |
| NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
| Net Income (Loss) | 30,678,441 |
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