WESTERN DISTRICTS MEMBERS CREDIT UNION is no longer an active credit union according to the NCUA. If available, you can view their website at https://www.wdmcu.org for more information.
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.
Name: | WESTERN DISTRICTS MEMBERS CREDIT UNION |
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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 |
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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 |
ASSETS: | $ Amount |
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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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