WORKERS CREDIT UNION is no longer an active credit union according to the NCUA. If available, you can view their website at https://www.wcu.com for more information.
Dec, 31, 2023 — WORKERS CREDIT UNION is a federally insured state chartered credit union headquartered in Fitchburg, MA with 16 branch locations and about $2.00 billion in total assets. Opened 110 years ago in 1914, WORKERS CREDIT UNION has about 108,628 members and employs 326 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.
| Name: | WORKERS CREDIT UNION |
|---|---|
| Address: (Main Office) | 815 Main St Fitchburg, MA 01420 |
| Phone: | (978) 345-1021 |
| Fax: | |
| Website: | https://www.wcu.com |
| Branches: | 16 branch locations |
| Members: | 108,628 |
| Credit Union Type: | Federally Insured State Chartered Credit Union |
| Charter Number: | 66479 |
|---|---|
| Membership Type: | State chartered natural person |
| Corporate Credit Union: | No |
| Year Opened: | 1914 |
| Last Audited: | Dec 01, 2019 |
| FHLB Member: | Yes |
| Low Income Designation: | No |
| Assets: | $1,995,827,980 |
| CEO/Manager: | Douglas J Petersen |
| Chairperson: | Mary Heafy |
| ASSETS: | $ Amount |
|---|---|
| Cash & Equivalents | 84,500,611 |
| TOTAL INVESTMENTS | 471,291,925 |
| Loans Held for Sale | 0 |
| Real Estate Loans | 849,422,023 |
| Unsecured Loans | 49,195,360 |
| Other Loans | 417,060,242 |
| TOTAL LOANS | 1,315,891,233 |
| (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -5,217,000 |
| Land And Building | 28,304,221 |
| Other Fixed Assets | 6,551,232 |
| NCUSIF Deposit | 11,879,441 |
| All Other Assets | 82,626,317 |
| TOTAL ASSETS | 1,995,827,980 |
| LIABILITIES & CAPITAL: | |
| Dividends Payable | 112,721 |
| Notes & Interest Payable | 381,500,000 |
| Accounts Payable & Other Liabilities | 16,414,494 |
| Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
| Share Drafts | 85,651,637 |
| Regular shares | 875,682,891 |
| All Other Shares & Deposits | 424,411,799 |
| TOTAL SHARES & DEPOSITS | 1,385,746,327 |
| TOTAL LIABILITIES | 1,783,773,542 |
| Regular Reserve | 8,301,403 |
| Other Reserves | 5,180,831 |
| Undivided Earnings | 198,572,204 |
| TOTAL EQUITY | 212,054,438 |
| TOTAL LIABILITIES, SHARES, & EQUITY | 1,995,827,980 |
| INCOME & EXPENSE | |
| Loan Income | 59,343,017 |
| Investment Income | 8,820,000 |
| Other Income | 23,345,617 |
| Total Employee Compensation & Benefits | 31,666,997 |
| NCUSIF Premiums Expense | 0 |
| Total Other Operating Expenses | 22,718,243 |
| Non-operating Income & (Expense) | 1,584,847 |
| NCUSIF Stabilization Income | N/A |
| Provision for Loan/Lease Losses or Total Credit Loss Expense | 8,487,987 |
| Cost of Funds | 23,336,743 |
| NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
| Net Income (Loss) | 6,883,511 |
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