CLATSKANIE - CEO Robert Blumberg announced the Wauna Federal Credit Union 2009 financials at the 43rd annual meeting held March 6 at the Columbia County Fairgrounds in St Helens.
Wauna grew by $13.8 million in total assets, $8.9 million in net loans and $11.7 million in shares, and recorded a net loss of $9,624. This was a result of expensing $784,008 to support the credit union industry, instead of the industry using taxpayer money. Without this expense, the credit union would have shown a net income of $774,384 compared to $660,167 for 2008.
Blumberg reported that WFCU now provides shared branching, which allows members to make transactions to their accounts at WFCU all over the nation and in other parts of the world. The ATM at the Vernonia Branch has been updated. Other ATMs in Clatskanie, St. Helens and Astoria were modified to accept deposits. The East Astoria Branch will open as the in-store branch in Safeway later in the year.
WFCU is working to develop a partnership with local automobile dealers to make it more convenient for customers to finance a purchase through the credit union while still at the dealership. The mortgage program was expanded to include loans on residential home purchases.
WFCU is headquartered in Clatskanie and has branches in Astoria, St. Helens, Vernonia and Warrenton. Everyone in Clatsop or Columbia counties is eligible for membership. For information, call (800) 773-3236.