Jun, 30, 2024 — WESTEDGE FEDERAL CREDIT UNION is a federal credit union headquartered in BELLINGHAM, WA with 1 branch location and about $87.11 million in total assets. Opened 72 years ago in 1952, WESTEDGE FEDERAL CREDIT UNION has about 4,306 members and employs 15 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.
| Name: | WESTEDGE FEDERAL CREDIT UNION |
|---|---|
| Address: (Main Office) | 2501 James St BELLINGHAM, WA 98225-3529 |
| Phone: | (360) 734-5790 |
| Fax: | (360) 734-9249 |
| Website: | https://www.westedgecu.org |
| Branches: | 1 branch locations |
| Members: | 4,306 |
| Credit Union Type: | Federal Credit Union |
| Charter Number: | 8113 |
|---|---|
| Membership Type: | Community credit unions, urban or rural, other than those designated 'low income' |
| Corporate Credit Union: | No |
| Year Opened: | 1952 |
| Last Audited: | Jan 01, 2022 |
| FHLB Member: | No |
| Low Income Designation: | No |
| Assets: | $87,114,640 |
| CEO/Manager: | Kayrene Zowada |
| Chairperson: | Peter Border |
| ASSETS: | $ Amount |
|---|---|
| Cash & Equivalents | 4,048,420 |
| TOTAL INVESTMENTS | 0 |
| Loans Held for Sale | 0 |
| Real Estate Loans | 10,616,027 |
| Unsecured Loans | 4,578,596 |
| Other Loans | 16,056,612 |
| TOTAL LOANS | 31,251,235 |
| (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -268,810 |
| Land And Building | 540,853 |
| Other Fixed Assets | 97,138 |
| NCUSIF Deposit | 722,426 |
| All Other Assets | 29,900 |
| TOTAL ASSETS | 87,114,640 |
| LIABILITIES & CAPITAL: | |
| Dividends Payable | 0 |
| Notes & Interest Payable | 0 |
| Accounts Payable & Other Liabilities | -126,014 |
| Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
| Share Drafts | 14,233,196 |
| Regular shares | 36,452,134 |
| All Other Shares & Deposits | 26,491,020 |
| TOTAL SHARES & DEPOSITS | 77,176,350 |
| TOTAL LIABILITIES | 77,050,336 |
| Regular Reserve | 0 |
| Other Reserves | -823,385 |
| Undivided Earnings | 10,887,689 |
| TOTAL EQUITY | 10,064,304 |
| TOTAL LIABILITIES, SHARES, & EQUITY | 87,114,640 |
| INCOME & EXPENSE | |
| Loan Income | 1,134,270 |
| Investment Income | 425,232 |
| Other Income | 131,171 |
| Total Employee Compensation & Benefits | 803,862 |
| NCUSIF Premiums Expense | 0 |
| Total Other Operating Expenses | 771,922 |
| Non-operating Income & (Expense) | -3,875 |
| NCUSIF Stabilization Income | N/A |
| Provision for Loan/Lease Losses or Total Credit Loss Expense | 20,240 |
| Cost of Funds | 72,940 |
| NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
| Net Income (Loss) | 376,612 |
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