Dec, 31, 2023 — LONGSHORE FEDERAL CREDIT UNION is a federal credit union headquartered in HOQUIAM, WA with 1 branch location and about $8.30 million in total assets. Opened 64 years ago in 1960, LONGSHORE FEDERAL CREDIT UNION has about 414 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: | LONGSHORE FEDERAL CREDIT UNION |
|---|---|
| Address: (Main Office) | 3107 John Stevens Way HOQUIAM, WA 98550 |
| Phone: | (360) 532-9224 |
| Fax: | (360) 532-9229 |
| Website: | https://www.longshorefcu.com |
| Branches: | 1 branch locations |
| Members: | 414 |
| Credit Union Type: | Federal Credit Union |
| Charter Number: | 13857 |
|---|---|
| Membership Type: | Community credit unions, urban or rural, other than those designated 'low income' |
| Corporate Credit Union: | No |
| Year Opened: | 1960 |
| Last Audited: | Sep 01, 2023 |
| FHLB Member: | No |
| Low Income Designation: | No |
| Assets: | $8,298,315 |
| CEO/Manager: | Ruth A Bryson |
| Chairperson: | David Cox |
| ASSETS: | $ Amount |
|---|---|
| Cash & Equivalents | 477,000 |
| TOTAL INVESTMENTS | 0 |
| Loans Held for Sale | 0 |
| Real Estate Loans | 0 |
| Unsecured Loans | 432,754 |
| Other Loans | 3,257,002 |
| TOTAL LOANS | 3,689,757 |
| (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -22,000 |
| Land And Building | 0 |
| Other Fixed Assets | 6,070 |
| NCUSIF Deposit | 78,139 |
| All Other Assets | 0 |
| TOTAL ASSETS | 8,298,315 |
| LIABILITIES & CAPITAL: | |
| Dividends Payable | 0 |
| Notes & Interest Payable | 0 |
| Accounts Payable & Other Liabilities | 137,084 |
| Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
| Share Drafts | 1,504,237 |
| Regular shares | 5,583,829 |
| All Other Shares & Deposits | 362,249 |
| TOTAL SHARES & DEPOSITS | 7,450,315 |
| TOTAL LIABILITIES | 7,587,399 |
| Regular Reserve | 0 |
| Other Reserves | 85,025 |
| Undivided Earnings | 625,891 |
| TOTAL EQUITY | 710,916 |
| TOTAL LIABILITIES, SHARES, & EQUITY | 8,298,315 |
| INCOME & EXPENSE | |
| Loan Income | 228,727 |
| Investment Income | 71,093 |
| Other Income | 25,366 |
| Total Employee Compensation & Benefits | 171,691 |
| NCUSIF Premiums Expense | 0 |
| Total Other Operating Expenses | 101,566 |
| Non-operating Income & (Expense) | 452 |
| NCUSIF Stabilization Income | N/A |
| Provision for Loan/Lease Losses or Total Credit Loss Expense | 12,601 |
| Cost of Funds | 1,494 |
| NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
| Net Income (Loss) | 60,775 |
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