Dec, 31, 2023 — WESTPORT FEDERAL CREDIT UNION is a federal credit union headquartered in WESTPORT, MA with 1 branch location and about $70.80 million in total assets. Opened 72 years ago in 1952, WESTPORT FEDERAL CREDIT UNION has about 6,294 members and employs 12 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.
Name: | WESTPORT FEDERAL CREDIT UNION |
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Address: (Main Office) | 655 State Rd WESTPORT, MA 02790 |
Phone: | (508) 679-0197 |
Fax: | (508) 678-6605 |
Website: | https://www.westport.org |
Branches: | 1 branch locations |
Members: | 6,294 |
Credit Union Type: | Federal Credit Union |
Charter Number: | 7652 |
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Membership Type: | Community credit unions, urban or rural, other than those designated 'low income' |
Corporate Credit Union: | No |
Year Opened: | 1952 |
Last Audited: | Dec 01, 2022 |
FHLB Member: | Yes |
Low Income Designation: | No |
Assets: | $70,796,638 |
CEO/Manager: | Mathew Aguiar |
Chairperson: | Antonio Cestodio |
ASSETS: | $ Amount |
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Cash & Equivalents | 6,252,547 |
TOTAL INVESTMENTS | 0 |
Loans Held for Sale | 0 |
Real Estate Loans | 22,955,414 |
Unsecured Loans | 1,191,990 |
Other Loans | 9,864,896 |
TOTAL LOANS | 34,012,300 |
(Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -116,625 |
Land And Building | 53,475 |
Other Fixed Assets | 94,342 |
NCUSIF Deposit | 650,983 |
All Other Assets | 0 |
TOTAL ASSETS | 70,796,638 |
LIABILITIES & CAPITAL: | |
Dividends Payable | 0 |
Notes & Interest Payable | 0 |
Accounts Payable & Other Liabilities | 310,343 |
Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
Share Drafts | 15,796,409 |
Regular shares | 41,690,001 |
All Other Shares & Deposits | 7,308,409 |
TOTAL SHARES & DEPOSITS | 64,794,819 |
TOTAL LIABILITIES | 65,106,936 |
Regular Reserve | 0 |
Other Reserves | -140,337 |
Undivided Earnings | 5,830,039 |
TOTAL EQUITY | 5,689,702 |
TOTAL LIABILITIES, SHARES, & EQUITY | 70,796,638 |
INCOME & EXPENSE | |
Loan Income | 1,446,060 |
Investment Income | 1,124,228 |
Other Income | 335,886 |
Total Employee Compensation & Benefits | 788,427 |
NCUSIF Premiums Expense | 0 |
Total Other Operating Expenses | 1,187,314 |
Non-operating Income & (Expense) | 41,400 |
NCUSIF Stabilization Income | N/A |
Provision for Loan/Lease Losses or Total Credit Loss Expense | 35,484 |
Cost of Funds | 97,629 |
NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
Net Income (Loss) | 846,883 |
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