Jun, 30, 2024 — WEPCO FEDERAL CREDIT UNION is a federal credit union headquartered in BLOOMINGTON, MD with 5 branch locations and about $329.89 million in total assets. Opened 74 years ago in 1950, WEPCO FEDERAL CREDIT UNION has about 34,295 members and employs 43 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.
| Name: | WEPCO FEDERAL CREDIT UNION |
|---|---|
| Address: (Main Office) | 204 North Branch Avenue BLOOMINGTON, MD 21523 |
| Phone: | (301) 359-3081 |
| Fax: | (301) 359-3683 |
| Website: | https://www.wepcofcu.com |
| Branches: | 5 branch locations |
| Members: | 34,295 |
| Credit Union Type: | Federal Credit Union |
| Charter Number: | 6685 |
|---|---|
| Membership Type: | Multiple common bond - Primarily other manufacturing |
| Corporate Credit Union: | No |
| Year Opened: | 1950 |
| Last Audited: | Dec 01, 2021 |
| FHLB Member: | No |
| Low Income Designation: | No |
| Assets: | $329,889,488 |
| CEO/Manager: | Becky McKenzie |
| Chairperson: | Walter K May |
| ASSETS: | $ Amount |
|---|---|
| Cash & Equivalents | 129,818,855 |
| TOTAL INVESTMENTS | 0 |
| Loans Held for Sale | 0 |
| Real Estate Loans | 34,486,027 |
| Unsecured Loans | 12,083,718 |
| Other Loans | 137,972,714 |
| TOTAL LOANS | 184,542,459 |
| (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -869,347 |
| Land And Building | 4,336,863 |
| Other Fixed Assets | 486,019 |
| NCUSIF Deposit | 2,695,896 |
| All Other Assets | 263,300 |
| TOTAL ASSETS | 329,889,488 |
| LIABILITIES & CAPITAL: | |
| Dividends Payable | 286,620 |
| Notes & Interest Payable | 0 |
| Accounts Payable & Other Liabilities | 578,085 |
| Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
| Share Drafts | 50,616,877 |
| Regular shares | 122,758,582 |
| All Other Shares & Deposits | 119,324,465 |
| TOTAL SHARES & DEPOSITS | 292,699,924 |
| TOTAL LIABILITIES | 293,564,629 |
| Regular Reserve | 0 |
| Other Reserves | 2,489,516 |
| Undivided Earnings | 33,835,343 |
| TOTAL EQUITY | 36,324,859 |
| TOTAL LIABILITIES, SHARES, & EQUITY | 329,889,488 |
| INCOME & EXPENSE | |
| Loan Income | 6,531,593 |
| Investment Income | 1,070,092 |
| Other Income | 1,162,938 |
| Total Employee Compensation & Benefits | 2,387,901 |
| NCUSIF Premiums Expense | 0 |
| Total Other Operating Expenses | 2,808,872 |
| Non-operating Income & (Expense) | 183,217 |
| NCUSIF Stabilization Income | N/A |
| Provision for Loan/Lease Losses or Total Credit Loss Expense | 219,864 |
| Cost of Funds | 996,226 |
| NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
| Net Income (Loss) | 3,642,659 |
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