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NORTH EAST WELCH FEDERAL CREDIT UNION

Dec, 31, 2020 — NORTH EAST WELCH FEDERAL CREDIT UNION is a federal credit union headquartered in NORTH EAST, PA with 2 branch locations and about $20.10 million in total assets. Opened 68 years ago in 1953, NORTH EAST WELCH FEDERAL CREDIT UNION has about 2,646 members and employs 9 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:2,646
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, 2020
FHLB Member:No
Low Income Designation:No
Assets:$20,097,330
CEO/Manager:Susan M Maas
Chairperson:Howard Barnes

Call Report

  • Credit Builder
  • Pay Day Loans
  • Real Estate Loans
  • Risk Based Loans
  • Payday Alternative Loans (PAL Loans)
  • ATM/Debit Card Program
  • Commercial Share Accounts
  • Check Cashing
  • Low Cost Wire Transfers

Financial Summary

» See also Statement of Financial Condition
ASSETS:$ Amount
Cash & Equivalents 1,299,846
TOTAL INVESTMENTS 8,643,029
Loans Held for Sale 0
 
 Real Estate Loans 1,631,018
 Unsecured Loans 1,458,226
 Other Loans 5,944,178
 TOTAL LOANS 9,033,422
 (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) -87,683
 Land And Building 233,613
 Other Fixed Assets 58,193
 NCUSIF Deposit 147,248
 All Other Assets 769,662
  TOTAL ASSETS 20,097,330
LIABILITIES & CAPITAL:  
 Dividends Payable 12,839
 Notes & Interest Payable 0
 Accounts Payable & Other Liabilities 61,876
 Uninsured Secondary Capital and Subordinated Debt Included in Net Worth 0
 Share Drafts 2,894,434
 Regular shares 11,461,651
 All Other Shares & Deposits 2,794,903
  TOTAL SHARES & DEPOSITS 17,150,988
  TOTAL LIABILITIES 17,225,703
 Regular Reserve 219,205
 Other Reserves 173,446
 Undivided Earnings 2,478,976
  TOTAL EQUITY 2,871,627
  TOTAL LIABILITIES, SHARES, & EQUITY 20,097,330
INCOME & EXPENSE  
 Loan Income 621,201
 Investment Income 141,998
 Other Income 177,565
 Total Employee Compensation & Benefits 397,138
 NCUSIF Premiums Expense 0
 Total Other Operating Expenses 402,679
 Non-operating Income & (Expense) 4,800
 NCUSIF Stabilization Income N/A
 Provision for Loan/Lease Losses or Total Credit Loss Expense 1,000
 Cost of Funds 55,245
 NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM N/A
Net Income (Loss) 89,502
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