Jun, 30, 2023 — TAPCO CREDIT UNION is a federally insured state chartered credit union headquartered in FIRCREST, WA with 6 branch locations and about $626.81 million in total assets. Opened 89 years ago in 1934, TAPCO CREDIT UNION has about 32,353 members and employs 101 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.
| Name: | TAPCO CREDIT UNION |
|---|---|
| Address: (Main Office) | 6312 19th St W FIRCREST, WA 98466-6226 |
| Phone: | (253) 565-9895 |
| Fax: | (253) 565-4748 |
| Website: | https://www.tapcocu.org |
| Branches: | 6 branch locations |
| Members: | 32,353 |
| Credit Union Type: | Federally Insured State Chartered Credit Union |
| Charter Number: | 68298 |
|---|---|
| Membership Type: | State chartered natural person |
| Corporate Credit Union: | No |
| Year Opened: | 1934 |
| Last Audited: | Sep 01, 2021 |
| FHLB Member: | Yes |
| Low Income Designation: | No |
| Assets: | $626,807,337 |
| CEO/Manager: | Justin W Martin |
| Chairperson: | Pat McElligott |
| ASSETS: | $ Amount |
|---|---|
| Cash & Equivalents | 20,259,251 |
| TOTAL INVESTMENTS | 0 |
| Loans Held for Sale | 0 |
| Real Estate Loans | 237,033,810 |
| Unsecured Loans | 16,416,468 |
| Other Loans | 260,608,537 |
| TOTAL LOANS | 514,058,815 |
| (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -3,350,524 |
| Land And Building | 8,177,116 |
| Other Fixed Assets | 1,763,499 |
| NCUSIF Deposit | 4,979,841 |
| All Other Assets | 35,113 |
| TOTAL ASSETS | 626,807,337 |
| LIABILITIES & CAPITAL: | |
| Dividends Payable | 240,391 |
| Notes & Interest Payable | 35,000,000 |
| Accounts Payable & Other Liabilities | 3,108,659 |
| Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
| Share Drafts | 115,305,512 |
| Regular shares | 297,697,916 |
| All Other Shares & Deposits | 130,409,286 |
| TOTAL SHARES & DEPOSITS | 543,412,714 |
| TOTAL LIABILITIES | 581,761,764 |
| Regular Reserve | 0 |
| Other Reserves | -4,385,694 |
| Undivided Earnings | 49,431,267 |
| TOTAL EQUITY | 45,045,573 |
| TOTAL LIABILITIES, SHARES, & EQUITY | 626,807,337 |
| INCOME & EXPENSE | |
| Loan Income | 12,483,655 |
| Investment Income | 540,595 |
| Other Income | 1,062,431 |
| Total Employee Compensation & Benefits | 7,106,877 |
| NCUSIF Premiums Expense | 0 |
| Total Other Operating Expenses | 5,651,946 |
| Non-operating Income & (Expense) | 0 |
| NCUSIF Stabilization Income | N/A |
| Provision for Loan/Lease Losses or Total Credit Loss Expense | 0 |
| Cost of Funds | 860,433 |
| NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
| Net Income (Loss) | 5,575,504 |
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