A commitment to making the best possible financial decisions
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.
We’ve consistently been rated 5-stars (Superior)8 by Bauer Financial9. Accordingly, you can have peace of mind that your money is safe at Webster First.
Financials breakdown
Webster First Federal Credit Union is a $1,469,859,114 billion financial institution and ranks among the largest credit unions operating in Massachusetts today.
Statement of Conditions
| 12/31/2023 | 12/31/2022 | |
|---|---|---|
| Assets | ||
| Cash & Investments | $271,258,817 | $260,377,184 |
| Loans, net | $1,121,134,238 | $1,008,212,324 |
| Property & Equipment | $22,328,650 | $23,193,420 |
| Other Assets | $55,137,409 | $58,866,087 |
| TOTAL | $1,469,859,114 | $1,350,649,015 |
| Liabilities & Equity | ||
| Member Deposits | $1,016,127,197 | $1,037,409,755 |
| Borrowings | $200,000,000 | $67,000,000 |
| Other Liabilities | $20,836,581 | $26,285,577 |
| Surplus & Reserves | $232,895,336 | $219,953,683 |
| TOTAL | $1,469,859,114 | $1,350,649,015 |
Paul L. Richard, Supervisory Committee Chairman
Kimberly A. Tonkin, VP of Finance/CFO
9: https://www.websterfirst.com/blog/webster-first-rated-5-stars-by-bauerfinancial-for-june-2022/