Dec, 31, 2023 — SEATTLE METROPOLITAN CREDIT UNION is a federally insured state chartered credit union headquartered in SEATTLE, WA with 8 branch locations and about $1.11 billion in total assets. Opened 91 years ago in 1933, SEATTLE METROPOLITAN CREDIT UNION has about 55,314 members and employs 182 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.
| Name: | SEATTLE METROPOLITAN CREDIT UNION |
|---|---|
| Address: (Main Office) | 1910 1st Ave S SEATTLE, WA 98134-1406 |
| Phone: | (206) 398-5500 |
| Fax: | (206) 398-5516 |
| Website: | https://www.seattlecu.com |
| Branches: | 8 branch locations |
| Members: | 55,314 |
| Credit Union Type: | Federally Insured State Chartered Credit Union |
| Charter Number: | 68315 |
|---|---|
| Membership Type: | State chartered natural person |
| Corporate Credit Union: | No |
| Year Opened: | 1933 |
| Last Audited: | Dec 01, 2022 |
| FHLB Member: | Yes |
| Low Income Designation: | No |
| Assets: | $1,114,328,065 |
| CEO/Manager: | Richard Romero |
| Chairperson: | Carlos Ruiz |
| ASSETS: | $ Amount |
|---|---|
| Cash & Equivalents | 75,790,542 |
| TOTAL INVESTMENTS | 0 |
| Loans Held for Sale | 1,200,614 |
| Real Estate Loans | 496,848,971 |
| Unsecured Loans | 118,424,334 |
| Other Loans | 263,440,029 |
| TOTAL LOANS | 878,713,334 |
| (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -13,782,069 |
| Land And Building | 0 |
| Other Fixed Assets | 7,086,880 |
| NCUSIF Deposit | 7,777,919 |
| All Other Assets | 502,934 |
| TOTAL ASSETS | 1,114,328,065 |
| LIABILITIES & CAPITAL: | |
| Dividends Payable | 7 |
| Notes & Interest Payable | 85,000,000 |
| Accounts Payable & Other Liabilities | 14,974,551 |
| Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 46,094,000 |
| Share Drafts | 264,635,499 |
| Regular shares | 253,197,811 |
| All Other Shares & Deposits | 378,773,898 |
| TOTAL SHARES & DEPOSITS | 896,607,209 |
| TOTAL LIABILITIES | 1,042,675,767 |
| Regular Reserve | 0 |
| Other Reserves | -5,881,212 |
| Undivided Earnings | 77,533,510 |
| TOTAL EQUITY | 71,652,298 |
| TOTAL LIABILITIES, SHARES, & EQUITY | 1,114,328,065 |
| INCOME & EXPENSE | |
| Loan Income | 43,460,556 |
| Investment Income | 3,103,620 |
| Other Income | 3,931,662 |
| Total Employee Compensation & Benefits | 21,154,235 |
| NCUSIF Premiums Expense | 0 |
| Total Other Operating Expenses | 20,810,497 |
| Non-operating Income & (Expense) | 60,429 |
| NCUSIF Stabilization Income | N/A |
| Provision for Loan/Lease Losses or Total Credit Loss Expense | 6,454,530 |
| Cost of Funds | 9,243,701 |
| NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
| Net Income (Loss) | 4,549,636 |
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