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National Credit Union Service Organization

CUTTING EDGE FEDERAL CREDIT UNION

Jun, 30, 2023 — CUTTING EDGE FEDERAL CREDIT UNION is a federal credit union headquartered in MILWAUKIE, OR with 2 branch locations and about $60.65 million in total assets. Opened 71 years ago in 1953, CUTTING EDGE FEDERAL CREDIT UNION has about 3,994 members and employs 17 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: 323274788
Name:CUTTING EDGE FEDERAL CREDIT UNION
Address:
(Main Office)
4620 SE International Way Ste 105
MILWAUKIE, OR 97222
Phone:(503) 653-4392
Fax:(503) 653-6327
Website:https://www.cuttingedgefcu.org
Branches:2 branch locations
Members:3,994
Credit Union Type:Federal Credit Union
Charter Number:8317
Membership Type:Multiple common bond - Primarily other manufacturing
Corporate Credit Union:No
Year Opened:1953
Last Audited:Dec 01, 2021
FHLB Member:No
Low Income Designation:No
Assets:$60,645,477
CEO/Manager:Brady Howe
Chairperson:Richard Stallman

Call Report

  • Payday Alternative Loans (PAL Loans)
  • Low Cost Wire Transfers

Financial Summary

» See also Statement of Financial Condition
ASSETS:$ Amount
Cash & Equivalents 4,020,413
TOTAL INVESTMENTS 0
Loans Held for Sale 0
 
 Real Estate Loans 6,573,465
 Unsecured Loans 2,698,505
 Other Loans 16,437,240
 TOTAL LOANS 25,709,210
 (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) -59,830
 Land And Building 87,361
 Other Fixed Assets 165,776
 NCUSIF Deposit 503,569
 All Other Assets 0
  TOTAL ASSETS 60,645,477
LIABILITIES & CAPITAL:  
 Dividends Payable 8,921
 Notes & Interest Payable 0
 Accounts Payable & Other Liabilities 1,227,486
 Uninsured Secondary Capital and Subordinated Debt Included in Net Worth 0
 Share Drafts 11,383,142
 Regular shares 27,205,885
 All Other Shares & Deposits 16,878,464
  TOTAL SHARES & DEPOSITS 55,467,491
  TOTAL LIABILITIES 56,703,898
 Regular Reserve 0
 Other Reserves -2,388,537
 Undivided Earnings 6,330,116
  TOTAL EQUITY 3,941,579
  TOTAL LIABILITIES, SHARES, & EQUITY 60,645,477
INCOME & EXPENSE  
 Loan Income 854,878
 Investment Income 229,361
 Other Income 113,975
 Total Employee Compensation & Benefits 1,031,455
 NCUSIF Premiums Expense 0
 Total Other Operating Expenses 851,811
 Non-operating Income & (Expense) 689,571
 NCUSIF Stabilization Income N/A
 Provision for Loan/Lease Losses or Total Credit Loss Expense 32,346
 Cost of Funds 81,450
 NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM N/A
Net Income (Loss) 327,500
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