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National Credit Union Service Organization

VERITY CREDIT UNION

Dec, 31, 2023 — VERITY CREDIT UNION is a federally insured state chartered credit union headquartered in SEATTLE, WA with 8 branch locations and about $833.38 million in total assets. Opened 91 years ago in 1933, VERITY CREDIT UNION has about 37,837 members and employs 146 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: 325081885
Name:VERITY CREDIT UNION
Address:
(Main Office)
11027 Meridian Ave N
SEATTLE, WA 98133
Phone:(206) 440-9000
Fax:(206) 361-5300
Website:https://www.veritycu.com
Branches:8 branch locations
Members:37,837
Credit Union Type:Federally Insured State Chartered Credit Union
Charter Number:68517
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:$833,375,439
CEO/Manager:Tonita Webb
Chairperson:Nancy Woodland

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 59,913,703
TOTAL INVESTMENTS 0
Loans Held for Sale 0
 
 Real Estate Loans 378,864,086
 Unsecured Loans 35,860,250
 Other Loans 298,920,428
 TOTAL LOANS 713,644,764
 (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) -5,572,846
 Land And Building 5,479,169
 Other Fixed Assets 2,283,809
 NCUSIF Deposit 5,870,400
 All Other Assets 955,371
  TOTAL ASSETS 833,375,439
LIABILITIES & CAPITAL:  
 Dividends Payable 226,792
 Notes & Interest Payable 58,500,000
 Accounts Payable & Other Liabilities 29,651,927
 Uninsured Secondary Capital and Subordinated Debt Included in Net Worth 0
 Share Drafts 246,517,840
 Regular shares 172,715,045
 All Other Shares & Deposits 251,521,929
  TOTAL SHARES & DEPOSITS 670,754,813
  TOTAL LIABILITIES 759,133,532
 Regular Reserve 0
 Other Reserves 4,513,524
 Undivided Earnings 69,728,383
  TOTAL EQUITY 74,241,907
  TOTAL LIABILITIES, SHARES, & EQUITY 833,375,439
INCOME & EXPENSE  
 Loan Income 37,528,575
 Investment Income 1,440,116
 Other Income 2,659,790
 Total Employee Compensation & Benefits 17,465,428
 NCUSIF Premiums Expense 0
 Total Other Operating Expenses 21,593,059
 Non-operating Income & (Expense) 409,493
 NCUSIF Stabilization Income N/A
 Provision for Loan/Lease Losses or Total Credit Loss Expense 3,914,611
 Cost of Funds 7,603,475
 NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM N/A
Net Income (Loss) 1,545,722
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