NORTHWEST COMMUNITY Financial Reports
Quarter Ended: 2024/12/31
Data Updated on: 2024/10/28
NORTHWEST COMMUNITY is a NFICU, and supervised by the National Credit Union Administration (NCUA) located in MORTON GROVE, IL. Established on 1939, the credit union is regulated by the NCUA and has 2 branches.
The bank has 0 employees and holds 65,938,030 in total assets. With a focus on Non-Federal Credit Union customers, the bank has been serving its customers since 1939.
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NORTHWEST COMMUNITY Institution Profile
| Type of Membership | Non-Federal Credit Union |
| Number of Full-Time Employees | 8 |
| Date Established | 1939 |
| Number of Part-Time Employees | 0 |
| Type of Credit Union | NFICU |
| City | MORTON GROVE |
| Number of Current Members | 2641 |
| ZIP Code | 60053 |
| State | IL |
| Street Address | 8930 WAUKEGAN RD |
| Official Website | http://www.nwccu.com |
| Peer Group Category | 4 – $50,000,000 to less than $100,000,000 |
| President’s Name | Emir Abinion |
| CEO Name | Jose Garcia |
| Join Number | 14738 |
| Net Worth Classification | Well Capitalized |
| Institution RSSDID | 389796 |
| Number Of Branches | 2 |
| Bond Provider | CUMIS |
Institution Profile Overview
The organization operates under the Membership Type of “Non-Federal Credit Union” and was Chartered on “1939”. It is classified as a NFICU, with Number of Members totaling “2641”. The institution is based in State: “IL”, within the City: “MORTON GROVE”, and can be found at Street: “8930 WAUKEGAN RD”, ZIP Code: “60053”.
The institution employs “8” Full-time Employees and “0” Part-time Employees, ensuring smooth operations. It belongs to the Peer Group “4 – $50,000,000 to less than $100,000,000”, reflecting its size and scope of activities. The Net Worth Classification places it in the “Well Capitalized” category.
Leadership is guided by PRESIDENT: “Emir Abinion” and CEO: “Jose Garcia”, ensuring strategic direction and oversight. Additional identifiers include a Join Number of “14738” and RSSD Number of “389796”. The organization’s online presence is accessible via its Website: “http://www.nwccu.com”.
NORTHWEST COMMUNITY Financials
(USD, in thousands)
| Total Assets | $65,938 |
| Total NonInterest Income | $110 |
| Total Liabilities | $60,473 |
| Total Interest Expense | $1,378 |
| Total Shares and Deposits | $60,299 |
| Total NonInterest Expense | $1,638 |
| Total Equity | $6,348 |
| Total Net Worth | $6,467 |
| Total Interest Income | $2,763 |
| Net Worth Ratio | 9.78% |
| Total amount of Loans and Leases | $45,415 |
| Total number of Loans and Leases | 81,152 |
Financial Performance Overview
Gain a comprehensive perspective on NORTHWEST COMMUNITY’s financial landscape through our “Financials” table. The bank boasts total assets of $65,938,030k, showcasing its substantial scale and influential market presence. A nuanced breakdown reveals insights into the credit union’s financial structure and stability, with total liabilities standing at $60,472,510k and total equity at $6,348,036k.
Delve into key operational metrics, including total shares and deposits of $60,299,204k, total loans and leases at $45,414,998k, and a meticulous analysis of income and expense components. This detailed financial overview is designed to enhance your understanding of NORTHWEST COMMUNITY’s performance and competitive positioning within the financial industry.
NORTHWEST COMMUNITY Additional Financial Information
| Net Interest Income | 1,385,333.00 |
| Loans Held for Sale | 0.00 |
| Net Interest Margin (as a % of Average Assets) | 2.08 |
| Other Non‐Performing Assets (as % of Total Assets) | 0.00 |
| All Other Assets (Total) | 2,629,496.00 |
| Total Cash on Deposit (Amounts Deposited in Financial Institutions) | 3,282,902.00 |
| Net Worth Growth | -3.74 |
| Total INVESTMENT SECURITIES | 7,862,022.00 |
| Share Growth | -2.22 |
| TOTAL OTHER INVESTMENTS | 140,314.00 |
| Loan Growth | 2.05 |
| Total Foreclosed and Repossessed Assets | 0.00 |
| Asset Growth | -1.90 |
| Total Credit Loss Expense | 6,000.00 |
| Investment Growth | -10.79 |
| NET INCOME (LOSS) | -148,867.00 |
| Membership Growth | -4.09 |
| Loans‐to‐Assets Ratio | 68.88 |
| Return on Average Assets (ROAA) | -0.22 |
| Cash & Short‐Term Investments (as % of Assets) | 12.76 |
| Net Income (Excluding Extraordinary Items) / Average Assets | -0.22 |
| Risk‐Based Capital Ratio | N/A |
| Non‐Interest Expense (as % of Average Assets) | 2.46 |
| GAAP Equity (as % of Total Assets) | 8.29 |
| Provision for Loan or Credit Losses (as % of Average Assets) | 0.01 |
| Loan Loss Ratio | 0.10 |
| Total Gain (Loss) on Investments | 0.00 |
| Efficiency Ratio | 57.01 |
| Regulatory Net Worth Ratio | 978.00 |
| Adjusted Net Worth Ratio | 10.21 |
Insights into Financial Metrics
Enhance your understanding of NORTHWEST COMMUNITY‘s financial standing through our Additional Financial Information table. Explore key metrics such as Total Loans and Leases: $45,414,998k and Net Interest Income: $0k to gain valuable insights into the credit union’s core operations and revenue streams.
Delve into the intricacies of Loan Loss Ratio 0.0984 to evaluate the credit union’s asset quality and risk mitigation efforts. Examine the composition of income through Total Noninterest Income: $109,728k and evaluate operational efficiency using metrics like Efficiency Ratio: 57.0085. This nuanced financial overview empowers a comprehensive analysis of NORTHWEST COMMUNITY‘s strategic financial position and performance in the industry.
Frequently Asked Questions (FAQs)
What is the asset size of NORTHWEST COMMUNITY?
The asset size of NORTHWEST COMMUNITY is approximately $65,938,030k, reflecting the credit union’s scale and market presence.
What type of bond does NORTHWEST COMMUNITY have?
NORTHWEST COMMUNITY has a bond provided by CUMIS, which ensures certain financial securities to its members.
How many members does NORTHWEST COMMUNITY currently have?
The credit union currently serves 2641 members, indicating its reach and community impact.
What is the total number of employees at NORTHWEST COMMUNITY?
There are 8 employees at NORTHWEST COMMUNITY, including both full-time and part-time staff, supporting its operations and member services.
Where is NORTHWEST COMMUNITY located and how many branches does it have?
NORTHWEST COMMUNITY is located in MORTON GROVE, IL, and operates 2 branches.
What is the net worth ratio of NORTHWEST COMMUNITY?
The net worth ratio, a key indicator of financial strength, for NORTHWEST COMMUNITY is 978%.
What is the total value of loans and deposits at NORTHWEST COMMUNITY?
The credit union holds $45,414,998k in loans and $60,299,204k in deposits, reflecting its lending and saving activities.
What does NORTHWEST COMMUNITY’s investment portfolio look like?
The credit union’s investment portfolio includes total investment securities and other investments, showcasing strategic asset allocation.
Who are the leaders of NORTHWEST COMMUNITY?
Leadership at NORTHWEST COMMUNITY is provided by President Emir Abinion and CEO Jose Garcia, guiding strategic decisions and operations.