We’ve been through many economic upturns and downturns since we first opened our doors in 1928. Today, as a result of our hard work and determination to make the best possible financial decisions, Webster First is one of the most well capitalized credit unions in Massachusetts. With our experience and dedicated team, we’re confident we can help you make the right financial decisions too.
Financials breakdown
Webster First Federal Credit Union is a $1,350,649,015 billion financial institution and ranks among the largest credit unions operating in Massachusetts today.
We’re proud of where we came from, where we are today, and where we are going in the future.
Statement of Conditions
| 12/31/2022 | 12/31/2021 | |
|---|---|---|
| Assets | ||
| Cash & Investments | $260,377,184 | $307,931,871 |
| Loans, net | $1,008,212,324 | $848,060,658 |
| Property & Equipment | $23,193,420 | $24,384,659 |
| Other Assets | $58,866,087 | $56,161,870 |
| TOTAL | $1,350,649,015 | $1,236,539,058 |
| Liabilities & Equity | ||
| Member Deposits | $1,037,409,755 | $965,423,322 |
| Borrowings | $67,000,000 | $30,000,000 |
| Other Liabilities | $26,285,577 | $27,584,926 |
| Surplus & Reserves | $219,953,683 | $213,530,811 |
| TOTAL | $1,350,649,015 | $1,236,539,058 |
Paul L. Richard, Supervisory Committee Chairman
Kimberly A. Tonkin, VP of Finance/CFO