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NORTH EAST WELCH FEDERAL CREDIT UNION

Dec, 31, 2021 — NORTH EAST WELCH FEDERAL CREDIT UNION is a federal credit union headquartered in NORTH EAST, PA with 2 branch locations and about $21.47 million in total assets. Opened 69 years ago in 1953, NORTH EAST WELCH FEDERAL CREDIT UNION has about 2,683 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)
115 Clay St
NORTH EAST, PA 16428-1537
Phone:(814) 725-8190
Fax:(814) 725-7301
Website:http://www.newelchfcu.com
Branches:2 branch locations
Members:2,683
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:$21,474,872
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 827,170
TOTAL INVESTMENTS 10,498,029
Loans Held for Sale 0
 
 Real Estate Loans 1,943,365
 Unsecured Loans 1,271,562
 Other Loans 5,802,071
 TOTAL LOANS 9,016,998
 (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) -83,863
 Land And Building 220,920
 Other Fixed Assets 50,933
 NCUSIF Deposit 170,833
 All Other Assets 773,852
  TOTAL ASSETS 21,474,872
LIABILITIES & CAPITAL:  
 Dividends Payable 8,777
 Notes & Interest Payable 0
 Accounts Payable & Other Liabilities 66,017
 Uninsured Secondary Capital and Subordinated Debt Included in Net Worth 0
 Share Drafts 2,918,248
 Regular shares 12,554,983
 All Other Shares & Deposits 2,969,562
  TOTAL SHARES & DEPOSITS 18,442,793
  TOTAL LIABILITIES 18,517,587
 Regular Reserve 219,205
 Other Reserves 173,446
 Undivided Earnings 2,564,634
  TOTAL EQUITY 2,957,285
  TOTAL LIABILITIES, SHARES, & EQUITY 21,474,872
INCOME & EXPENSE  
 Loan Income 605,472
 Investment Income 97,579
 Other Income 83,852
 Total Employee Compensation & Benefits 403,657
 NCUSIF Premiums Expense 0
 Total Other Operating Expenses 437,345
 Non-operating Income & (Expense) 4,360
 NCUSIF Stabilization Income N/A
 Provision for Loan/Lease Losses or Total Credit Loss Expense -10,000
 Cost of Funds 36,301
 NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM N/A
Net Income (Loss) 85,658
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