Dec, 31, 2023 — TRANSIT WORKERS FEDERAL CREDIT UNION is a federal credit union headquartered in PHILADELPHIA, PA with 2 branch locations and about $18.02 million in total assets. Opened 57 years ago in 1967, TRANSIT WORKERS FEDERAL CREDIT UNION has about 4,048 members and employs 8 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.
| Name: | TRANSIT WORKERS FEDERAL CREDIT UNION |
|---|---|
| Address: (Main Office) | 919 E Cayuga St PHILADELPHIA, PA 19124 |
| Phone: | (215) 743-2922 |
| Fax: | (215) 743-4574 |
| Website: | https://www.twfcu.org |
| Branches: | 2 branch locations |
| Members: | 4,048 |
| Credit Union Type: | Federal Credit Union |
| Charter Number: | 17885 |
|---|---|
| Membership Type: | Multiple common bond - Primarily transportation |
| Corporate Credit Union: | No |
| Year Opened: | 1967 |
| Last Audited: | Dec 01, 2022 |
| FHLB Member: | No |
| Low Income Designation: | No |
| Assets: | $18,023,180 |
| CEO/Manager: | Kelly L Little |
| Chairperson: | Brenda Draper |
| ASSETS: | $ Amount |
|---|---|
| Cash & Equivalents | 4,212,473 |
| TOTAL INVESTMENTS | 0 |
| Loans Held for Sale | 0 |
| Real Estate Loans | 18,914 |
| Unsecured Loans | 3,861,543 |
| Other Loans | 3,055,466 |
| TOTAL LOANS | 6,935,923 |
| (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -159,238 |
| Land And Building | 4,001 |
| Other Fixed Assets | 90,109 |
| NCUSIF Deposit | 168,628 |
| All Other Assets | 0 |
| TOTAL ASSETS | 18,023,180 |
| LIABILITIES & CAPITAL: | |
| Dividends Payable | 0 |
| Notes & Interest Payable | 0 |
| Accounts Payable & Other Liabilities | 34,618 |
| Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
| Share Drafts | 1,091,520 |
| Regular shares | 13,749,528 |
| All Other Shares & Deposits | 665,703 |
| TOTAL SHARES & DEPOSITS | 15,506,751 |
| TOTAL LIABILITIES | 15,541,369 |
| Regular Reserve | 0 |
| Other Reserves | 0 |
| Undivided Earnings | 2,481,811 |
| TOTAL EQUITY | 2,481,811 |
| TOTAL LIABILITIES, SHARES, & EQUITY | 18,023,180 |
| INCOME & EXPENSE | |
| Loan Income | 611,115 |
| Investment Income | 140,933 |
| Other Income | 284,602 |
| Total Employee Compensation & Benefits | 568,824 |
| NCUSIF Premiums Expense | 0 |
| Total Other Operating Expenses | 745,049 |
| Non-operating Income & (Expense) | 0 |
| NCUSIF Stabilization Income | N/A |
| Provision for Loan/Lease Losses or Total Credit Loss Expense | 163,470 |
| Cost of Funds | 34,248 |
| NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
| Net Income (Loss) | -290,444 |
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