Dec, 31, 2020 — SEATTLE METROPOLITAN CREDIT UNION is a federally insured state chartered credit union headquartered in SEATTLE, WA with 9 branch locations and about $959.71 million in total assets. Opened 88 years ago in 1933, SEATTLE METROPOLITAN CREDIT UNION has about 52,088 members and employs 149 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) | 1521 1ST AVE S STE 500 SEATTLE, WA 98134-1473 |
| Phone: | (206) 398-5500 |
| Fax: | (206) 398-5516 |
| Website: | http://www.seattlecu.com |
| Branches: | 9 branch locations |
| Members: | 52,088 |
| 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, 2019 |
| FHLB Member: | Yes |
| Low Income Designation: | No |
| Assets: | $959,707,662 |
| CEO/Manager: | Richard Romero |
| Chairperson: | Carlos Ruiz |
| ASSETS: | $ Amount |
|---|---|
| Cash & Equivalents | 150,079,498 |
| TOTAL INVESTMENTS | 95,293,441 |
| Loans Held for Sale | 7,085,835 |
| Real Estate Loans | 391,171,411 |
| Unsecured Loans | 38,747,043 |
| Other Loans | 228,258,917 |
| TOTAL LOANS | 658,177,371 |
| (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -5,560,616 |
| Land And Building | 0 |
| Other Fixed Assets | 6,496,832 |
| NCUSIF Deposit | 7,282,760 |
| All Other Assets | 40,852,541 |
| TOTAL ASSETS | 959,707,662 |
| LIABILITIES & CAPITAL: | |
| Dividends Payable | 1,800 |
| Notes & Interest Payable | 0 |
| Accounts Payable & Other Liabilities | 15,586,564 |
| Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
| Share Drafts | 225,190,596 |
| Regular shares | 266,747,875 |
| All Other Shares & Deposits | 371,921,820 |
| TOTAL SHARES & DEPOSITS | 863,860,291 |
| TOTAL LIABILITIES | 879,448,655 |
| Regular Reserve | 5,201,500 |
| Other Reserves | 1,104,034 |
| Undivided Earnings | 73,953,473 |
| TOTAL EQUITY | 80,259,007 |
| TOTAL LIABILITIES, SHARES, & EQUITY | 959,707,662 |
| INCOME & EXPENSE | |
| Loan Income | 28,009,283 |
| Investment Income | 1,251,311 |
| Other Income | 14,990,782 |
| Total Employee Compensation & Benefits | 15,420,463 |
| NCUSIF Premiums Expense | 0 |
| Total Other Operating Expenses | 19,708,011 |
| Non-operating Income & (Expense) | 308,036 |
| NCUSIF Stabilization Income | N/A |
| Provision for Loan/Lease Losses or Total Credit Loss Expense | 3,819,795 |
| Cost of Funds | 2,603,719 |
| NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
| Net Income (Loss) | 3,007,424 |
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