Dec, 31, 2023 — WCLA CREDIT UNION is a federally insured state chartered credit union headquartered in OLYMPIA, WA with 1 branch location and about $121.03 million in total assets. Opened 40 years ago in 1984, WCLA CREDIT UNION has about 1,341 members and employs 11 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.
| Name: | WCLA CREDIT UNION |
|---|---|
| Address: (Main Office) | 2419 Pacific Ave SE OLYMPIA, WA 98501 |
| Phone: | (360) 352-5033 |
| Fax: | (360) 352-1537 |
| Website: | https://loggerscu.com |
| Branches: | 1 branch locations |
| Members: | 1,341 |
| Credit Union Type: | Federally Insured State Chartered Credit Union |
| Charter Number: | 68328 |
|---|---|
| Membership Type: | State chartered natural person |
| Corporate Credit Union: | No |
| Year Opened: | 1984 |
| Last Audited: | Sep 01, 2022 |
| FHLB Member: | No |
| Low Income Designation: | No |
| Assets: | $121,032,916 |
| CEO/Manager: | Charles Thompson |
| Chairperson: | Greg Horsley |
| ASSETS: | $ Amount |
|---|---|
| Cash & Equivalents | 5,226,506 |
| TOTAL INVESTMENTS | 0 |
| Loans Held for Sale | 0 |
| Real Estate Loans | 9,903,236 |
| Unsecured Loans | 236,981 |
| Other Loans | 93,140,706 |
| TOTAL LOANS | 103,280,923 |
| (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -703,271 |
| Land And Building | 0 |
| Other Fixed Assets | 168,564 |
| NCUSIF Deposit | 576,871 |
| All Other Assets | 0 |
| TOTAL ASSETS | 121,032,916 |
| LIABILITIES & CAPITAL: | |
| Dividends Payable | 0 |
| Notes & Interest Payable | 5,500,000 |
| Accounts Payable & Other Liabilities | 396,892 |
| Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
| Share Drafts | 10,167,520 |
| Regular shares | 5,791,508 |
| All Other Shares & Deposits | 79,929,212 |
| TOTAL SHARES & DEPOSITS | 95,888,240 |
| TOTAL LIABILITIES | 101,785,132 |
| Regular Reserve | 0 |
| Other Reserves | 0 |
| Undivided Earnings | 19,247,784 |
| TOTAL EQUITY | 19,247,784 |
| TOTAL LIABILITIES, SHARES, & EQUITY | 121,032,916 |
| INCOME & EXPENSE | |
| Loan Income | 5,878,289 |
| Investment Income | 420,758 |
| Other Income | 89,158 |
| Total Employee Compensation & Benefits | 1,469,598 |
| NCUSIF Premiums Expense | 0 |
| Total Other Operating Expenses | 695,842 |
| Non-operating Income & (Expense) | -20,021 |
| NCUSIF Stabilization Income | N/A |
| Provision for Loan/Lease Losses or Total Credit Loss Expense | 142,900 |
| Cost of Funds | 2,380,331 |
| NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
| Net Income (Loss) | 1,711,536 |
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