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WINTHROP AREA FEDERAL CREDIT UNION

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
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
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

Call Report

  • Low Cost Wire Transfers

Financial Summary

» See also Statement of Financial Condition
ASSETS:$ Amount
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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