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QUALSTAR CREDIT UNION

Mar, 31, 2022 — QUALSTAR CREDIT UNION is a federally insured state chartered credit union headquartered in BOTHELL, WA with 5 branch locations and about $811.32 million in total assets. Opened 70 years ago in 1952, QUALSTAR CREDIT UNION has about 69,875 members and employs 133 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: 325081966
Name:QUALSTAR CREDIT UNION
Address:
(Main Office)
24000 35th Ave SE # 200
BOTHELL, WA 98021-8990
Phone:(800) 848-0018
Fax:
Website:http://www.qualstarcu.com
Branches:5 branch locations
Members:69,875
Credit Union Type:Federally Insured State Chartered Credit Union
Charter Number:68223
Membership Type:State chartered natural person
Corporate Credit Union:No
Year Opened:1952
Last Audited:Sep 01, 2021
FHLB Member:No
Low Income Designation:No
Assets:$811,322,607
CEO/Manager:MICHAEL G ELFSTROM
Chairperson:KIMBERLE A BROWN

Call Report

  • First Time Homebuyer Program
  • International Remittances

Financial Summary

» See also Statement of Financial Condition
ASSETS:$ Amount
Cash & Equivalents 42,620,162
TOTAL INVESTMENTS 0
Loans Held for Sale 5,947,900
 
 Real Estate Loans 160,392,376
 Unsecured Loans 91,649,203
 Other Loans 131,422,357
 TOTAL LOANS 383,463,936
 (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) -4,757,853
 Land And Building 15,499,911
 Other Fixed Assets 1,671,076
 NCUSIF Deposit 6,289,517
 All Other Assets 196,029
  TOTAL ASSETS 811,322,607
LIABILITIES & CAPITAL:  
 Dividends Payable 95,476
 Notes & Interest Payable 0
 Accounts Payable & Other Liabilities 12,411,208
 Uninsured Secondary Capital and Subordinated Debt Included in Net Worth 0
 Share Drafts 165,024,282
 Regular shares 131,346,567
 All Other Shares & Deposits 412,293,305
  TOTAL SHARES & DEPOSITS 708,664,154
  TOTAL LIABILITIES 721,170,838
 Regular Reserve 0
 Other Reserves -11,821,805
 Undivided Earnings 101,973,574
  TOTAL EQUITY 90,151,769
  TOTAL LIABILITIES, SHARES, & EQUITY 811,322,607
INCOME & EXPENSE  
 Loan Income 5,599,497
 Investment Income 508,707
 Other Income 947,049
 Total Employee Compensation & Benefits 3,138,409
 NCUSIF Premiums Expense 0
 Total Other Operating Expenses 2,406,536
 Non-operating Income & (Expense) 11,772
 NCUSIF Stabilization Income N/A
 Provision for Loan/Lease Losses or Total Credit Loss Expense 368,224
 Cost of Funds 283,184
 NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM N/A
Net Income (Loss) 2,075,816
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