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WESTERLY COMMUNITY CREDIT UNION

Jun, 30, 2024 — WESTERLY COMMUNITY CREDIT UNION is a federally insured state chartered credit union headquartered in WESTERLY, RI with 5 branch locations and about $436.26 million in total assets. Opened 77 years ago in 1948, WESTERLY COMMUNITY CREDIT UNION has about 21,967 members and employs 78 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.


ABA Routing Number: 211573313
Name:WESTERLY COMMUNITY CREDIT UNION
Address:
(Main Office)
122 Granite St
WESTERLY, RI 02891
Phone:(401) 596-7000
Fax:(401) 596-3819
Website:https://www.westerlyccu.com
Branches:5 branch locations
Members:21,967
Credit Union Type:Federally Insured State Chartered Credit Union
Charter Number:67270
Membership Type:State chartered natural person
Corporate Credit Union:No
Year Opened:1948
Last Audited:Dec 01, 2021
FHLB Member:Yes
Low Income Designation:No
Assets:$436,261,961
CEO/Manager:Stephen J White
Chairperson:Pete Stefanski

Call Report

  • First Time Homebuyer Program
  • International Remittances
  • Low Cost Wire Transfers

Financial Summary

» See also Statement of Financial Condition
ASSETS:$ Amount
Cash & Equivalents 13,338,083
TOTAL INVESTMENTS 0
Loans Held for Sale 0
 
 Real Estate Loans 198,418,742
 Unsecured Loans 38,465,253
 Other Loans 103,218,690
 TOTAL LOANS 340,260,022
 (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) -1,463,666
 Land And Building 14,440,184
 Other Fixed Assets 2,024,909
 NCUSIF Deposit 3,542,012
 All Other Assets 0
  TOTAL ASSETS 436,261,961
LIABILITIES & CAPITAL:  
 Dividends Payable 3,053
 Notes & Interest Payable 3,000,000
 Accounts Payable & Other Liabilities 3,270,453
 Uninsured Secondary Capital and Subordinated Debt Included in Net Worth 0
 Share Drafts 122,081,012
 Regular shares 185,382,340
 All Other Shares & Deposits 92,104,194
  TOTAL SHARES & DEPOSITS 399,567,546
  TOTAL LIABILITIES 405,841,052
 Regular Reserve 0
 Other Reserves -8,477,812
 Undivided Earnings 38,898,721
  TOTAL EQUITY 30,420,909
  TOTAL LIABILITIES, SHARES, & EQUITY 436,261,961
INCOME & EXPENSE  
 Loan Income 9,841,556
 Investment Income 627,249
 Other Income 1,911,598
 Total Employee Compensation & Benefits 5,295,384
 NCUSIF Premiums Expense 0
 Total Other Operating Expenses 4,799,425
 Non-operating Income & (Expense) 0
 NCUSIF Stabilization Income N/A
 Provision for Loan/Lease Losses or Total Credit Loss Expense 214,291
 Cost of Funds 689,365
 NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM N/A
Net Income (Loss) 2,305,251
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