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WESTPORT FEDERAL CREDIT UNION

Dec, 31, 2023 — WESTPORT FEDERAL CREDIT UNION is a federal credit union headquartered in WESTPORT, MA with 1 branch location and about $70.80 million in total assets. Opened 72 years ago in 1952, WESTPORT FEDERAL CREDIT UNION has about 6,294 members and employs 12 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.


Name:WESTPORT FEDERAL CREDIT UNION
Address:
(Main Office)
655 State Rd
WESTPORT, MA 02790
Phone:(508) 679-0197
Fax:(508) 678-6605
Website:https://www.westport.org
Branches:1 branch locations
Members:6,294
Credit Union Type:Federal Credit Union
Charter Number:7652
Membership Type:Community credit unions, urban or rural, other than those designated 'low income'
Corporate Credit Union:No
Year Opened:1952
Last Audited:Dec 01, 2022
FHLB Member:Yes
Low Income Designation:No
Assets:$70,796,638
CEO/Manager:Mathew Aguiar
Chairperson:Antonio Cestodio

Call Report

  • Low Cost Wire Transfers

Financial Summary

» See also Statement of Financial Condition
ASSETS:$ Amount
Cash & Equivalents 6,252,547
TOTAL INVESTMENTS 0
Loans Held for Sale 0
 
 Real Estate Loans 22,955,414
 Unsecured Loans 1,191,990
 Other Loans 9,864,896
 TOTAL LOANS 34,012,300
 (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) -116,625
 Land And Building 53,475
 Other Fixed Assets 94,342
 NCUSIF Deposit 650,983
 All Other Assets 0
  TOTAL ASSETS 70,796,638
LIABILITIES & CAPITAL:  
 Dividends Payable 0
 Notes & Interest Payable 0
 Accounts Payable & Other Liabilities 310,343
 Uninsured Secondary Capital and Subordinated Debt Included in Net Worth 0
 Share Drafts 15,796,409
 Regular shares 41,690,001
 All Other Shares & Deposits 7,308,409
  TOTAL SHARES & DEPOSITS 64,794,819
  TOTAL LIABILITIES 65,106,936
 Regular Reserve 0
 Other Reserves -140,337
 Undivided Earnings 5,830,039
  TOTAL EQUITY 5,689,702
  TOTAL LIABILITIES, SHARES, & EQUITY 70,796,638
INCOME & EXPENSE  
 Loan Income 1,446,060
 Investment Income 1,124,228
 Other Income 335,886
 Total Employee Compensation & Benefits 788,427
 NCUSIF Premiums Expense 0
 Total Other Operating Expenses 1,187,314
 Non-operating Income & (Expense) 41,400
 NCUSIF Stabilization Income N/A
 Provision for Loan/Lease Losses or Total Credit Loss Expense 35,484
 Cost of Funds 97,629
 NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM N/A
Net Income (Loss) 846,883
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