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National Credit Union Service Organization

WESTMARK CREDIT UNION

Dec, 31, 2023 — WESTMARK CREDIT UNION is a federally insured state chartered credit union headquartered in IDAHO FALLS, ID with 15 branch locations and about $1.38 billion in total assets. Opened 70 years ago in 1954, WESTMARK CREDIT UNION has about 74,176 members and employs 242 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: 324173079
Name:WESTMARK CREDIT UNION
Address:
(Main Office)
2520 Channing Way
IDAHO FALLS, ID 83404
Phone:(208) 528-8315
Fax:(208) 528-6403
Website:https://www.westmark.org
Branches:15 branch locations
Members:74,176
Credit Union Type:Federally Insured State Chartered Credit Union
Charter Number:68353
Membership Type:State chartered natural person
Corporate Credit Union:No
Year Opened:1954
Last Audited:Apr 01, 2023
FHLB Member:Yes
Low Income Designation:No
Assets:$1,379,746,743
CEO/Manager:Mike A Schenck
Chairperson:E. Denise Teuscher

Call Report

  • Low Cost Wire Transfers

Financial Summary

» See also Statement of Financial Condition
ASSETS:$ Amount
Cash & Equivalents 68,639,388
TOTAL INVESTMENTS 0
Loans Held for Sale 0
 
 Real Estate Loans 497,946,116
 Unsecured Loans 34,903,995
 Other Loans 662,316,979
 TOTAL LOANS 1,195,167,090
 (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) -4,049,599
 Land And Building 25,987,587
 Other Fixed Assets 4,815,179
 NCUSIF Deposit 10,741,352
 All Other Assets 430,389
  TOTAL ASSETS 1,379,746,743
LIABILITIES & CAPITAL:  
 Dividends Payable 3,307,287
 Notes & Interest Payable 36,200,000
 Accounts Payable & Other Liabilities 16,151,623
 Uninsured Secondary Capital and Subordinated Debt Included in Net Worth 0
 Share Drafts 188,411,353
 Regular shares 279,713,221
 All Other Shares & Deposits 743,147,915
  TOTAL SHARES & DEPOSITS 1,211,272,489
  TOTAL LIABILITIES 1,266,931,399
 Regular Reserve 0
 Other Reserves -628,660
 Undivided Earnings 113,444,004
  TOTAL EQUITY 112,815,344
  TOTAL LIABILITIES, SHARES, & EQUITY 1,379,746,743
INCOME & EXPENSE  
 Loan Income 55,067,502
 Investment Income 4,653,417
 Other Income 4,717,529
 Total Employee Compensation & Benefits 22,146,641
 NCUSIF Premiums Expense 0
 Total Other Operating Expenses 17,334,084
 Non-operating Income & (Expense) 124,258
 NCUSIF Stabilization Income N/A
 Provision for Loan/Lease Losses or Total Credit Loss Expense 3,655,130
 Cost of Funds 24,450,504
 NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM N/A
Net Income (Loss) 3,914,823
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