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National Credit Union Service Organization

WASHINGTON STATE EMPLOYEES CREDIT UNION (WSECU)

Dec, 31, 2023 — WASHINGTON STATE EMPLOYEES CREDIT UNION (WSECU) is a federally insured state chartered credit union headquartered in OLYMPIA, WA with 25 branch locations and about $5.36 billion in total assets. Opened 67 years ago in 1957, WASHINGTON STATE EMPLOYEES CREDIT UNION (WSECU) has about 314,821 members and employs 830 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: 325181028
Name:WASHINGTON STATE EMPLOYEES CREDIT UNION
Address:
(Main Office)
330 UNION AVE SE
OLYMPIA, WA 98501
Phone:(800) 562-0999
Fax:
Website:https://wsecu.org
Branches:25 branch locations
Members:314,821
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, 2022
FHLB Member:Yes
Low Income Designation:No
Assets:$5,357,264,548
CEO/Manager:Gary Swindler
Chairperson:Doug Mah

Call Report

  • Credit Builder
  • First Time Homebuyer Program

Financial Summary

» See also Statement of Financial Condition
ASSETS:$ Amount
Cash & Equivalents 94,394,457
TOTAL INVESTMENTS 0
Loans Held for Sale 1,403,774
 
 Real Estate Loans 2,169,380,331
 Unsecured Loans 479,758,035
 Other Loans 1,663,504,386
 TOTAL LOANS 4,312,705,444
 (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) -44,887,640
 Land And Building 86,241,837
 Other Fixed Assets 18,148,144
 NCUSIF Deposit 38,862,257
 All Other Assets 1,658,790
  TOTAL ASSETS 5,357,264,548
LIABILITIES & CAPITAL:  
 Dividends Payable 0
 Notes & Interest Payable 544,000,000
 Accounts Payable & Other Liabilities 114,300,825
 Uninsured Secondary Capital and Subordinated Debt Included in Net Worth 0
 Share Drafts 899,325,271
 Regular shares 1,420,443,142
 All Other Shares & Deposits 1,994,647,069
  TOTAL SHARES & DEPOSITS 4,314,415,482
  TOTAL LIABILITIES 4,972,716,307
 Regular Reserve 0
 Other Reserves -80,895,995
 Undivided Earnings 465,444,236
  TOTAL EQUITY 384,548,241
  TOTAL LIABILITIES, SHARES, & EQUITY 5,357,264,548
INCOME & EXPENSE  
 Loan Income 212,751,116
 Investment Income 27,409,306
 Other Income 27,426,252
 Total Employee Compensation & Benefits 98,166,640
 NCUSIF Premiums Expense 0
 Total Other Operating Expenses 74,457,302
 Non-operating Income & (Expense) 20,165,234
 NCUSIF Stabilization Income N/A
 Provision for Loan/Lease Losses or Total Credit Loss Expense 47,802,616
 Cost of Funds 68,967,239
 NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM N/A
Net Income (Loss) 28,436,917
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