Mar, 31, 2022 — WASHINGTON STATE EMPLOYEES CREDIT UNION (WSECU) is a federally insured state chartered credit union headquartered in OLYMPIA, WA with 22 branch locations and about $4.71 billion in total assets. Opened 65 years ago in 1957, WASHINGTON STATE EMPLOYEES CREDIT UNION (WSECU) has about 283,187 members and employs 745 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.
| Name: | WASHINGTON STATE EMPLOYEES CREDIT UNION |
|---|---|
| Address: (Main Office) | 330 UNION AVE SE OLYMPIA, WA 98501 |
| Phone: | (800) 562-0999 |
| Fax: | |
| Website: | wsecu.org |
| Branches: | 22 branch locations |
| Members: | 283,187 |
| Credit Union Type: | Federally Insured State Chartered Credit Union |
| Charter Number: | 60042 |
|---|---|
| Membership Type: | State chartered natural person |
| Corporate Credit Union: | No |
| Year Opened: | 1957 |
| Last Audited: | Dec 01, 2021 |
| FHLB Member: | Yes |
| Low Income Designation: | No |
| Assets: | $4,705,925,522 |
| CEO/Manager: | Gary Swindler |
| Chairperson: | Carole J Washburn |
| ASSETS: | $ Amount |
|---|---|
| Cash & Equivalents | 433,496,798 |
| TOTAL INVESTMENTS | 0 |
| Loans Held for Sale | 1,487,550 |
| Real Estate Loans | 1,726,907,260 |
| Unsecured Loans | 327,555,488 |
| Other Loans | 1,112,917,815 |
| TOTAL LOANS | 3,167,410,711 |
| (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -14,876,504 |
| Land And Building | 87,995,882 |
| Other Fixed Assets | 13,544,012 |
| NCUSIF Deposit | 36,157,705 |
| All Other Assets | 775,199 |
| TOTAL ASSETS | 4,705,925,522 |
| LIABILITIES & CAPITAL: | |
| Dividends Payable | 0 |
| Notes & Interest Payable | 0 |
| Accounts Payable & Other Liabilities | 78,817,340 |
| Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
| Share Drafts | 930,024,906 |
| Regular shares | 1,813,423,087 |
| All Other Shares & Deposits | 1,500,101,802 |
| TOTAL SHARES & DEPOSITS | 4,243,549,795 |
| TOTAL LIABILITIES | 4,322,367,135 |
| Regular Reserve | 0 |
| Other Reserves | -46,761,799 |
| Undivided Earnings | 430,320,186 |
| TOTAL EQUITY | 383,558,387 |
| TOTAL LIABILITIES, SHARES, & EQUITY | 4,705,925,522 |
| INCOME & EXPENSE | |
| Loan Income | 31,549,881 |
| Investment Income | 3,389,677 |
| Other Income | 6,169,465 |
| Total Employee Compensation & Benefits | 22,313,832 |
| NCUSIF Premiums Expense | 0 |
| Total Other Operating Expenses | 18,573,063 |
| Non-operating Income & (Expense) | 242,160 |
| NCUSIF Stabilization Income | N/A |
| Provision for Loan/Lease Losses or Total Credit Loss Expense | 2,525,637 |
| Cost of Funds | 2,034,083 |
| NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
| Net Income (Loss) | 1,676,788 |
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