Dec, 31, 2022 — SEATTLE METROPOLITAN CREDIT UNION is a federally insured state chartered credit union headquartered in SEATTLE, WA with 10 branch locations and about $1.10 billion in total assets. Opened 90 years ago in 1933, SEATTLE METROPOLITAN CREDIT UNION has about 55,639 members and employs 171 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 98134-1474 |
| Phone: | (206) 398-5500 |
| Fax: | (206) 398-5516 |
| Website: | https://www.seattlecu.com |
| Branches: | 10 branch locations |
| Members: | 55,639 |
| 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, 2021 |
| FHLB Member: | Yes |
| Low Income Designation: | No |
| Assets: | $1,099,322,891 |
| CEO/Manager: | Richard Romero |
| Chairperson: | Carlos Ruiz |
| ASSETS: | $ Amount |
|---|---|
| Cash & Equivalents | 110,294,355 |
| TOTAL INVESTMENTS | 0 |
| Loans Held for Sale | 0 |
| Real Estate Loans | 460,635,407 |
| Unsecured Loans | 103,754,734 |
| Other Loans | 262,810,389 |
| TOTAL LOANS | 827,200,530 |
| (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -6,339,022 |
| Land And Building | 0 |
| Other Fixed Assets | 6,836,787 |
| NCUSIF Deposit | 8,597,482 |
| All Other Assets | 303,055 |
| TOTAL ASSETS | 1,099,322,891 |
| LIABILITIES & CAPITAL: | |
| Dividends Payable | 1,972 |
| Notes & Interest Payable | 0 |
| Accounts Payable & Other Liabilities | 14,511,792 |
| Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 46,094,000 |
| Share Drafts | 257,321,796 |
| Regular shares | 318,414,432 |
| All Other Shares & Deposits | 394,057,456 |
| TOTAL SHARES & DEPOSITS | 969,793,684 |
| TOTAL LIABILITIES | 1,030,401,448 |
| Regular Reserve | 0 |
| Other Reserves | -9,873,568 |
| Undivided Earnings | 78,795,011 |
| TOTAL EQUITY | 68,921,443 |
| TOTAL LIABILITIES, SHARES, & EQUITY | 1,099,322,891 |
| INCOME & EXPENSE | |
| Loan Income | 23,658,953 |
| Investment Income | 1,867,730 |
| Other Income | 3,020,632 |
| Total Employee Compensation & Benefits | 12,742,190 |
| NCUSIF Premiums Expense | 0 |
| Total Other Operating Expenses | 14,033,999 |
| Non-operating Income & (Expense) | 71,178 |
| NCUSIF Stabilization Income | N/A |
| Provision for Loan/Lease Losses or Total Credit Loss Expense | 3,810,225 |
| Cost of Funds | 1,642,987 |
| NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
| Net Income (Loss) | 4,672,029 |
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