Dec, 31, 2023 — TRANSWEST CREDIT UNION is a federally insured state chartered credit union headquartered in SALT LAKE CITY, UT with 4 branch locations and about $182.69 million in total assets. Opened 39 years ago in 1985, TRANSWEST CREDIT UNION has about 15,421 members and employs 30 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.
| Name: | TRANSWEST CREDIT UNION |
|---|---|
| Address: (Main Office) | 37 W 1700 S SALT LAKE CITY, UT 84115 |
| Phone: | (801) 487-1692 |
| Fax: | (801) 486-9743 |
| Website: | https://www.transwestcu.com |
| Branches: | 4 branch locations |
| Members: | 15,421 |
| Credit Union Type: | Federally Insured State Chartered Credit Union |
| Charter Number: | 66705 |
|---|---|
| Membership Type: | State chartered natural person |
| Corporate Credit Union: | No |
| Year Opened: | 1985 |
| Last Audited: | Sep 01, 2023 |
| FHLB Member: | Yes |
| Low Income Designation: | No |
| Assets: | $182,691,052 |
| CEO/Manager: | Steven Pratt |
| Chairperson: | Roger Beynon |
| ASSETS: | $ Amount |
|---|---|
| Cash & Equivalents | 6,748,825 |
| TOTAL INVESTMENTS | 0 |
| Loans Held for Sale | 0 |
| Real Estate Loans | 74,748,013 |
| Unsecured Loans | 7,804,551 |
| Other Loans | 63,992,497 |
| TOTAL LOANS | 146,545,061 |
| (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -606,798 |
| Land And Building | 2,808,370 |
| Other Fixed Assets | 984,659 |
| NCUSIF Deposit | 1,570,924 |
| All Other Assets | 0 |
| TOTAL ASSETS | 182,691,052 |
| LIABILITIES & CAPITAL: | |
| Dividends Payable | 0 |
| Notes & Interest Payable | 0 |
| Accounts Payable & Other Liabilities | 1,124,484 |
| Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
| Share Drafts | 26,593,567 |
| Regular shares | 45,212,822 |
| All Other Shares & Deposits | 91,764,741 |
| TOTAL SHARES & DEPOSITS | 163,571,130 |
| TOTAL LIABILITIES | 164,695,614 |
| Regular Reserve | 0 |
| Other Reserves | 6,751,182 |
| Undivided Earnings | 11,244,256 |
| TOTAL EQUITY | 17,995,438 |
| TOTAL LIABILITIES, SHARES, & EQUITY | 182,691,052 |
| INCOME & EXPENSE | |
| Loan Income | 6,937,546 |
| Investment Income | 705,596 |
| Other Income | 933,089 |
| Total Employee Compensation & Benefits | 2,718,153 |
| NCUSIF Premiums Expense | 0 |
| Total Other Operating Expenses | 2,971,798 |
| Non-operating Income & (Expense) | 34,521 |
| NCUSIF Stabilization Income | N/A |
| Provision for Loan/Lease Losses or Total Credit Loss Expense | 170,500 |
| Cost of Funds | 2,366,944 |
| NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
| Net Income (Loss) | 797,345 |
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