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National Credit Union Service Organization

SEATTLE METROPOLITAN CREDIT UNION

Dec, 31, 2023 — SEATTLE METROPOLITAN CREDIT UNION is a federally insured state chartered credit union headquartered in SEATTLE, WA with 8 branch locations and about $1.11 billion in total assets. Opened 91 years ago in 1933, SEATTLE METROPOLITAN CREDIT UNION has about 55,314 members and employs 182 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.


ABA Routing Number: 325081500
Name:SEATTLE METROPOLITAN CREDIT UNION
Address:
(Main Office)
1910 1st Ave S
SEATTLE, WA 98134-1406
Phone:(206) 398-5500
Fax:(206) 398-5516
Website:https://www.seattlecu.com
Branches:8 branch locations
Members:55,314
Credit Union Type:Federally Insured State Chartered Credit Union
Charter Number:68315
Membership Type:State chartered natural person
Corporate Credit Union:No
Year Opened:1933
Last Audited:Dec 01, 2022
FHLB Member:Yes
Low Income Designation:No
Assets:$1,114,328,065
CEO/Manager:Richard Romero
Chairperson:Carlos Ruiz

Call Report

  • Credit Builder
  • First Time Homebuyer Program
  • International Remittances
  • Low Cost Wire Transfers

Financial Summary

» See also Statement of Financial Condition
ASSETS:$ Amount
Cash & Equivalents 75,790,542
TOTAL INVESTMENTS 0
Loans Held for Sale 1,200,614
 
 Real Estate Loans 496,848,971
 Unsecured Loans 118,424,334
 Other Loans 263,440,029
 TOTAL LOANS 878,713,334
 (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) -13,782,069
 Land And Building 0
 Other Fixed Assets 7,086,880
 NCUSIF Deposit 7,777,919
 All Other Assets 502,934
  TOTAL ASSETS 1,114,328,065
LIABILITIES & CAPITAL:  
 Dividends Payable 7
 Notes & Interest Payable 85,000,000
 Accounts Payable & Other Liabilities 14,974,551
 Uninsured Secondary Capital and Subordinated Debt Included in Net Worth 46,094,000
 Share Drafts 264,635,499
 Regular shares 253,197,811
 All Other Shares & Deposits 378,773,898
  TOTAL SHARES & DEPOSITS 896,607,209
  TOTAL LIABILITIES 1,042,675,767
 Regular Reserve 0
 Other Reserves -5,881,212
 Undivided Earnings 77,533,510
  TOTAL EQUITY 71,652,298
  TOTAL LIABILITIES, SHARES, & EQUITY 1,114,328,065
INCOME & EXPENSE  
 Loan Income 43,460,556
 Investment Income 3,103,620
 Other Income 3,931,662
 Total Employee Compensation & Benefits 21,154,235
 NCUSIF Premiums Expense 0
 Total Other Operating Expenses 20,810,497
 Non-operating Income & (Expense) 60,429
 NCUSIF Stabilization Income N/A
 Provision for Loan/Lease Losses or Total Credit Loss Expense 6,454,530
 Cost of Funds 9,243,701
 NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM N/A
Net Income (Loss) 4,549,636
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