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WES CREDIT UNION

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
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
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

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Financial Summary

» See also Statement of Financial Condition
ASSETS:$ Amount
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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