Jun, 30, 2024 — 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 72 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.
| 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 |
| 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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