Dec, 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 $4.77 billion in total assets. Opened 66 years ago in 1957, WASHINGTON STATE EMPLOYEES CREDIT UNION (WSECU) has about 293,651 members and employs 747 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: | 293,651 |
| 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: | $4,771,613,927 |
| CEO/Manager: | Gary Swindler |
| Chairperson: | Carole J Washburn |
| ASSETS: | $ Amount |
|---|---|
| Cash & Equivalents | 86,869,270 |
| TOTAL INVESTMENTS | 0 |
| Loans Held for Sale | 1,845,125 |
| Real Estate Loans | 1,850,090,698 |
| Unsecured Loans | 371,069,947 |
| Other Loans | 1,419,690,565 |
| TOTAL LOANS | 3,640,851,210 |
| (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -17,569,619 |
| Land And Building | 86,236,770 |
| Other Fixed Assets | 16,853,772 |
| NCUSIF Deposit | 38,246,670 |
| All Other Assets | 964,280 |
| TOTAL ASSETS | 4,771,613,927 |
| LIABILITIES & CAPITAL: | |
| Dividends Payable | 0 |
| Notes & Interest Payable | 105,000,000 |
| Accounts Payable & Other Liabilities | 89,661,384 |
| Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
| Share Drafts | 939,582,586 |
| Regular shares | 1,801,939,945 |
| All Other Shares & Deposits | 1,496,874,786 |
| TOTAL SHARES & DEPOSITS | 4,238,397,317 |
| TOTAL LIABILITIES | 4,433,058,701 |
| Regular Reserve | 0 |
| Other Reserves | -106,744,475 |
| Undivided Earnings | 445,299,701 |
| TOTAL EQUITY | 338,555,226 |
| TOTAL LIABILITIES, SHARES, & EQUITY | 4,771,613,927 |
| INCOME & EXPENSE | |
| Loan Income | 102,579,381 |
| Investment Income | 12,624,198 |
| Other Income | 19,622,268 |
| Total Employee Compensation & Benefits | 65,027,255 |
| NCUSIF Premiums Expense | 0 |
| Total Other Operating Expenses | 56,617,779 |
| Non-operating Income & (Expense) | 719,214 |
| NCUSIF Stabilization Income | N/A |
| Provision for Loan/Lease Losses or Total Credit Loss Expense | 10,726,131 |
| Cost of Funds | 6,886,412 |
| NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
| Net Income (Loss) | 16,656,303 |
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