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WESTERN DISTRICTS MEMBERS CREDIT UNION

Dec, 31, 2023 — WESTERN DISTRICTS MEMBERS CREDIT UNION is a federally insured state chartered credit union headquartered in GRAND RAPIDS, MI with 2 branch locations and about $49.79 million in total assets. Opened 72 years ago in 1952, WESTERN DISTRICTS MEMBERS CREDIT UNION has about 2,701 members and employs 11 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.


ABA Routing Number: 272481017
Name:WESTERN DISTRICTS MEMBERS CREDIT UNION
Address:
(Main Office)
201 36TH ST SE
GRAND RAPIDS, MI 49548-2213
Phone:(616) 241-2516
Fax:(616) 241-4730
Website:https://www.wdmcu.org
Branches:2 branch locations
Members:2,701
Credit Union Type:Federally Insured State Chartered Credit Union
Charter Number:62073
Membership Type:State chartered natural person
Corporate Credit Union:No
Year Opened:1952
Last Audited:Jul 01, 2021
FHLB Member:No
Low Income Designation:No
Assets:$49,793,376
CEO/Manager:David T Keim
Chairperson:David A Zawacki

Call Report

  • Low Cost Wire Transfers

Financial Summary

» See also Statement of Financial Condition
ASSETS:$ Amount
Cash & Equivalents 26,426,820
TOTAL INVESTMENTS 0
Loans Held for Sale 0
 
 Real Estate Loans 7,509,319
 Unsecured Loans 2,585,048
 Other Loans 3,657,685
 TOTAL LOANS 13,752,052
 (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) -44,776
 Land And Building 128,372
 Other Fixed Assets 24,421
 NCUSIF Deposit 362,507
 All Other Assets 0
  TOTAL ASSETS 49,793,376
LIABILITIES & CAPITAL:  
 Dividends Payable 472
 Notes & Interest Payable 0
 Accounts Payable & Other Liabilities 223,238
 Uninsured Secondary Capital and Subordinated Debt Included in Net Worth 0
 Share Drafts 6,278,549
 Regular shares 20,900,051
 All Other Shares & Deposits 16,144,390
  TOTAL SHARES & DEPOSITS 43,322,990
  TOTAL LIABILITIES 43,546,700
 Regular Reserve 0
 Other Reserves -377,998
 Undivided Earnings 6,624,674
  TOTAL EQUITY 6,246,676
  TOTAL LIABILITIES, SHARES, & EQUITY 49,793,376
INCOME & EXPENSE  
 Loan Income 189,665
 Investment Income 71,976
 Other Income 45,584
 Total Employee Compensation & Benefits 357,361
 NCUSIF Premiums Expense 0
 Total Other Operating Expenses 330,602
 Non-operating Income & (Expense) 0
 NCUSIF Stabilization Income N/A
 Provision for Loan/Lease Losses or Total Credit Loss Expense 0
 Cost of Funds 26,108
 NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM N/A
Net Income (Loss) -359,922
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