Dec, 31, 2023 — NEPHI WESTERN EMPLOYEES FEDERAL CREDIT UNION is a federal credit union headquartered in NEPHI, UT with 1 branch location and about $42.89 million in total assets. Opened 74 years ago in 1950, NEPHI WESTERN EMPLOYEES FEDERAL CREDIT UNION has about 3,119 members and employs 5 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.
| Name: | NEPHI WESTERN EMPLOYEES FEDERAL CREDIT UNION |
|---|---|
| Address: (Main Office) | 155 N Main St NEPHI, UT 84648-1411 |
| Phone: | (435) 623-1895 |
| Fax: | (435) 623-5445 |
| Website: | https://nephicreditunion.com |
| Branches: | 1 branch locations |
| Members: | 3,119 |
| Credit Union Type: | Federal Credit Union |
| Charter Number: | 6920 |
|---|---|
| Membership Type: | Community credit unions, urban or rural, other than those designated 'low income' |
| Corporate Credit Union: | No |
| Year Opened: | 1950 |
| Last Audited: | Jun 01, 2023 |
| FHLB Member: | No |
| Low Income Designation: | No |
| Assets: | $42,891,681 |
| CEO/Manager: | MARK DRAKE |
| Chairperson: | Traci Memmott |
| ASSETS: | $ Amount |
|---|---|
| Cash & Equivalents | 1,366,543 |
| TOTAL INVESTMENTS | 0 |
| Loans Held for Sale | 0 |
| Real Estate Loans | 15,276,029 |
| Unsecured Loans | 152,492 |
| Other Loans | 16,173,851 |
| TOTAL LOANS | 31,602,372 |
| (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -276,127 |
| Land And Building | 462,148 |
| Other Fixed Assets | 16,815 |
| NCUSIF Deposit | 273,186 |
| All Other Assets | 18,481 |
| TOTAL ASSETS | 42,891,681 |
| LIABILITIES & CAPITAL: | |
| Dividends Payable | 37,590 |
| Notes & Interest Payable | 0 |
| Accounts Payable & Other Liabilities | 184,641 |
| Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
| Share Drafts | 492,894 |
| Regular shares | 19,983,075 |
| All Other Shares & Deposits | 7,841,146 |
| TOTAL SHARES & DEPOSITS | 28,317,116 |
| TOTAL LIABILITIES | 28,539,347 |
| Regular Reserve | 0 |
| Other Reserves | 1,655,010 |
| Undivided Earnings | 12,697,324 |
| TOTAL EQUITY | 14,352,334 |
| TOTAL LIABILITIES, SHARES, & EQUITY | 42,891,681 |
| INCOME & EXPENSE | |
| Loan Income | 1,438,856 |
| Investment Income | 163,505 |
| Other Income | 81,446 |
| Total Employee Compensation & Benefits | 550,830 |
| NCUSIF Premiums Expense | 0 |
| Total Other Operating Expenses | 308,074 |
| Non-operating Income & (Expense) | 0 |
| NCUSIF Stabilization Income | N/A |
| Provision for Loan/Lease Losses or Total Credit Loss Expense | 0 |
| Cost of Funds | 208,557 |
| NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
| Net Income (Loss) | 620,265 |
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