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.
Name: | WESTERLY COMMUNITY CREDIT UNION |
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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 |
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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 |
ASSETS: | $ Amount |
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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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