Dec, 31, 2023 — WES CREDIT UNION is a federally insured state chartered credit union headquartered in WILLOUGHBY, OH with 2 branch locations and about $14.07 million in total assets. Opened 70 years ago in 1954, WES CREDIT UNION has about 1,625 members and employs 3 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.
Name: | WES CREDIT UNION |
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Address: (Main Office) | 38024 2nd St WILLOUGHBY, OH 44094-6105 |
Phone: | (440) 942-6981 |
Fax: | (440) 918-9681 |
Website: | https://www.wescreditunion.com |
Branches: | 2 branch locations |
Members: | 1,625 |
Credit Union Type: | Federally Insured State Chartered Credit Union |
Charter Number: | 61233 |
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Membership Type: | State chartered natural person |
Corporate Credit Union: | No |
Year Opened: | 1954 |
Last Audited: | Nov 01, 2022 |
FHLB Member: | No |
Low Income Designation: | No |
Assets: | $14,071,924 |
CEO/Manager: | Steven M Simone |
Chairperson: | Michelle Augusta |
ASSETS: | $ Amount |
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Cash & Equivalents | 607,490 |
TOTAL INVESTMENTS | 0 |
Loans Held for Sale | 0 |
Real Estate Loans | 0 |
Unsecured Loans | 688,709 |
Other Loans | 3,142,137 |
TOTAL LOANS | 3,830,846 |
(Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -28,951 |
Land And Building | 28,401 |
Other Fixed Assets | 46,870 |
NCUSIF Deposit | 149,862 |
All Other Assets | 0 |
TOTAL ASSETS | 14,071,924 |
LIABILITIES & CAPITAL: | |
Dividends Payable | 8,557 |
Notes & Interest Payable | 0 |
Accounts Payable & Other Liabilities | 12,460 |
Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
Share Drafts | 2,313,264 |
Regular shares | 10,385,489 |
All Other Shares & Deposits | 469,283 |
TOTAL SHARES & DEPOSITS | 13,168,036 |
TOTAL LIABILITIES | 13,189,053 |
Regular Reserve | 0 |
Other Reserves | -200,684 |
Undivided Earnings | 1,083,555 |
TOTAL EQUITY | 882,871 |
TOTAL LIABILITIES, SHARES, & EQUITY | 14,071,924 |
INCOME & EXPENSE | |
Loan Income | 199,355 |
Investment Income | 162,987 |
Other Income | 18,438 |
Total Employee Compensation & Benefits | 155,042 |
NCUSIF Premiums Expense | 0 |
Total Other Operating Expenses | 212,333 |
Non-operating Income & (Expense) | 0 |
NCUSIF Stabilization Income | N/A |
Provision for Loan/Lease Losses or Total Credit Loss Expense | 10,803 |
Cost of Funds | 25,015 |
NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
Net Income (Loss) | 8,967 |
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