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CUTTING EDGE FEDERAL CREDIT UNION

Sep, 30, 2021 — CUTTING EDGE FEDERAL CREDIT UNION is a federal credit union headquartered in MILWAUKIE, OR with 2 branch locations and about $62.17 million in total assets. Opened 68 years ago in 1953, CUTTING EDGE FEDERAL CREDIT UNION has about 3,994 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.


ABA Routing Number: 323274788
Name:CUTTING EDGE FEDERAL CREDIT UNION
Address:
(Main Office)
PO BOX 22192
MILWAUKIE, OR 97269
Phone:(503) 653-4392
Fax:(503) 653-6327
Website:http://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, 2020
FHLB Member:No
Low Income Designation:No
Assets:$62,165,675
CEO/Manager:Brady Howe
Chairperson:Richard Stallman

Call Report

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

Financial Summary

» See also Statement of Financial Condition
ASSETS:$ Amount
Cash & Equivalents 16,923,447
TOTAL INVESTMENTS 19,166,128
Loans Held for Sale 0
 
 Real Estate Loans 7,711,617
 Unsecured Loans 2,967,945
 Other Loans 13,355,192
 TOTAL LOANS 24,034,754
 (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) -69,875
 Land And Building 84,142
 Other Fixed Assets 153,690
 NCUSIF Deposit 461,478
 All Other Assets 1,411,911
  TOTAL ASSETS 62,165,675
LIABILITIES & CAPITAL:  
 Dividends Payable 13,126
 Notes & Interest Payable 0
 Accounts Payable & Other Liabilities 1,773,430
 Uninsured Secondary Capital and Subordinated Debt Included in Net Worth 0
 Share Drafts 11,017,801
 Regular shares 25,525,196
 All Other Shares & Deposits 17,912,537
  TOTAL SHARES & DEPOSITS 54,455,534
  TOTAL LIABILITIES 56,242,090
 Regular Reserve 415,636
 Other Reserves -34,325
 Undivided Earnings 5,542,274
  TOTAL EQUITY 5,923,585
  TOTAL LIABILITIES, SHARES, & EQUITY 62,165,675
INCOME & EXPENSE  
 Loan Income 1,050,409
 Investment Income 77,753
 Other Income 75,377
 Total Employee Compensation & Benefits 886,141
 NCUSIF Premiums Expense 0
 Total Other Operating Expenses 765,307
 Non-operating Income & (Expense) 456,601
 NCUSIF Stabilization Income N/A
 Provision for Loan/Lease Losses or Total Credit Loss Expense -73,139
 Cost of Funds 112,633
 NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM N/A
Net Income (Loss) 411,723
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