Westerly Community Credit Union

Organization Overview

Westerly Community Credit Union is located in Wakefield, RI. The organization was established in 1993. According to its NTEE Classification (W61) the organization is classified as: Credit Unions, under the broad grouping of Public & Societal Benefit and related organizations. As of 12/2021, Westerly Community Credit Union employed 87 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Westerly Community Credit Union is a 501(c)(14) and as such, is described as a "State Chartered Credit Union, Mutual Reserve Fund" by the IRS.

For the year ending 12/2021, Westerly Community Credit Union generated $17.3m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 7.3% each year. All expenses for the organization totaled $12.8m during the year ending 12/2021. While expenses have increased by 4.6% per year over the past 7 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.

Mission & Program ActivityExcerpts From the 990 Filing

TAX YEAR

2021

Describe the Organization's Mission:

Part 3 - Line 1

FINANCIAL SERVICES

Describe the Organization's Program Activity:

Part 3 - Line 4a

MAINTENANCE OF MEMBERS' DEPOSIT ACCOUNT AND THE PAYMENT OF INTEREST AND DIVIDENDS


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Board, Officers & Key Employees

Name (title)Compensation
Stephen White
CEO
$309,179
Robert Falso
CFO
$213,147
Andrew Rogers
COO
$179,110
Robert Boucher
VP Of Lending
$160,133
Margaret Sisco
Cmo
$157,250
Richard Smith
Director Of Business
$146,219

Financial Statements

Statement of Revenue
Federated campaigns$0
Membership dues$0
Fundraising events$0
Related organizations$0
Government grants $0
All other contributions, gifts, grants, and similar amounts not included above$0
Noncash contributions included in lines 1a–1f $0
Total Revenue from Contributions, Gifts, Grants & Similar$0
Total Program Service Revenue$16,368,023
Investment income $507,720
Tax Exempt Bond Proceeds $0
Royalties $0
Net Rental Income $0
Net Gain/Loss on Asset Sales $378,229
Net Income from Fundraising Events $0
Net Income from Gaming Activities $0
Net Income from Sales of Inventory $0
Miscellaneous Revenue$0
Total Revenue $17,253,972

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