Dec, 31, 2023 — WINTHROP AREA FEDERAL CREDIT UNION is a federal credit union headquartered in WINTHROP, ME with 1 branch location and about $89.30 million in total assets. Opened 87 years ago in 1937, WINTHROP AREA FEDERAL CREDIT UNION has about 7,792 members and employs 15 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.
Name: | WINTHROP AREA FEDERAL CREDIT UNION |
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Address: (Main Office) | 94 HIGHLAND AVE WINTHROP, ME 04364 |
Phone: | (207) 377-2124 |
Fax: | (207) 377-2767 |
Website: | https://www.winthropcreditunion.org |
Branches: | 1 branch locations |
Members: | 7,792 |
Credit Union Type: | Federal Credit Union |
Charter Number: | 2301 |
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Membership Type: | Community credit unions, urban or rural, other than those designated 'low income' |
Corporate Credit Union: | No |
Year Opened: | 1937 |
Last Audited: | Sep 01, 2023 |
FHLB Member: | No |
Low Income Designation: | No |
Assets: | $89,296,454 |
CEO/Manager: | JEFFREY J SEGUIN |
Chairperson: | PENNY J PRAY |
ASSETS: | $ Amount |
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Cash & Equivalents | 13,845,795 |
TOTAL INVESTMENTS | 0 |
Loans Held for Sale | 0 |
Real Estate Loans | 16,247,157 |
Unsecured Loans | 951,409 |
Other Loans | 35,606,404 |
TOTAL LOANS | 52,804,968 |
(Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -288,812 |
Land And Building | 999,915 |
Other Fixed Assets | 119,154 |
NCUSIF Deposit | 764,876 |
All Other Assets | 0 |
TOTAL ASSETS | 89,296,454 |
LIABILITIES & CAPITAL: | |
Dividends Payable | 0 |
Notes & Interest Payable | 0 |
Accounts Payable & Other Liabilities | 456,178 |
Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
Share Drafts | 10,645,382 |
Regular shares | 18,051,203 |
All Other Shares & Deposits | 50,364,401 |
TOTAL SHARES & DEPOSITS | 79,060,986 |
TOTAL LIABILITIES | 79,517,164 |
Regular Reserve | 0 |
Other Reserves | 1,202,600 |
Undivided Earnings | 8,576,690 |
TOTAL EQUITY | 9,779,290 |
TOTAL LIABILITIES, SHARES, & EQUITY | 89,296,454 |
INCOME & EXPENSE | |
Loan Income | 2,796,648 |
Investment Income | 1,004,510 |
Other Income | 269,027 |
Total Employee Compensation & Benefits | 1,089,680 |
NCUSIF Premiums Expense | 0 |
Total Other Operating Expenses | 1,614,513 |
Non-operating Income & (Expense) | 0 |
NCUSIF Stabilization Income | N/A |
Provision for Loan/Lease Losses or Total Credit Loss Expense | 89,500 |
Cost of Funds | 1,029,189 |
NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
Net Income (Loss) | 682,432 |
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