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.
Name: | WASHINGTON STATE EMPLOYEES CREDIT UNION |
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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 |
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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 |
ASSETS: | $ Amount |
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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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