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NORTH EAST WELCH FEDERAL CREDIT UNION

Jun, 30, 2021 — NORTH EAST WELCH FEDERAL CREDIT UNION is a federal credit union headquartered in NORTH EAST, PA with 2 branch locations and about $21.44 million in total assets. Opened 68 years ago in 1953, NORTH EAST WELCH FEDERAL CREDIT UNION has about 2,660 members and employs 10 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.


Name:NORTH EAST WELCH FEDERAL CREDIT UNION
Address:
(Main Office)
PO BOX 597
NORTH EAST, PA 16428-0597
Phone:(814) 725-8190
Fax:(814) 725-7301
Website:http://www.newelchfcu.com
Branches:2 branch locations
Members:2,660
Credit Union Type:Federal Credit Union
Charter Number:8687
Membership Type:Community - Rural District
Corporate Credit Union:No
Year Opened:1953
Last Audited:Feb 01, 2021
FHLB Member:No
Low Income Designation:No
Assets:$21,440,448
CEO/Manager:Susan M Maas
Chairperson:Howard Barnes

Call Report

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

Financial Summary

» See also Statement of Financial Condition
ASSETS:$ Amount
Cash & Equivalents 1,740,998
TOTAL INVESTMENTS 9,208,029
Loans Held for Sale 0
 
 Real Estate Loans 1,833,264
 Unsecured Loans 1,282,503
 Other Loans 6,247,191
 TOTAL LOANS 9,362,958
 (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) -94,452
 Land And Building 227,267
 Other Fixed Assets 59,162
 NCUSIF Deposit 170,833
 All Other Assets 765,653
  TOTAL ASSETS 21,440,448
LIABILITIES & CAPITAL:  
 Dividends Payable 9,005
 Notes & Interest Payable 0
 Accounts Payable & Other Liabilities 59,114
 Uninsured Secondary Capital and Subordinated Debt Included in Net Worth 0
 Share Drafts 2,886,151
 Regular shares 12,788,652
 All Other Shares & Deposits 2,795,853
  TOTAL SHARES & DEPOSITS 18,470,656
  TOTAL LIABILITIES 18,538,775
 Regular Reserve 219,205
 Other Reserves 173,446
 Undivided Earnings 2,509,022
  TOTAL EQUITY 2,901,673
  TOTAL LIABILITIES, SHARES, & EQUITY 21,440,448
INCOME & EXPENSE  
 Loan Income 301,571
 Investment Income 52,895
 Other Income 37,547
 Total Employee Compensation & Benefits 199,008
 NCUSIF Premiums Expense 0
 Total Other Operating Expenses 218,497
 Non-operating Income & (Expense) 2,287
 NCUSIF Stabilization Income N/A
 Provision for Loan/Lease Losses or Total Credit Loss Expense 0
 Cost of Funds 18,435
 NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM N/A
Net Income (Loss) 30,046
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