Dec, 31, 2021 — SEATTLE METROPOLITAN CREDIT UNION is a federally insured state chartered credit union headquartered in SEATTLE, WA with 9 branch locations and about $1.06 billion in total assets. Opened 89 years ago in 1933, SEATTLE METROPOLITAN CREDIT UNION has about 52,906 members and employs 148 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: | http://www.seattlecu.com |
| Branches: | 9 branch locations |
| Members: | 52,906 |
| 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, 2020 |
| FHLB Member: | Yes |
| Low Income Designation: | No |
| Assets: | $1,060,154,630 |
| CEO/Manager: | Richard Romero |
| Chairperson: | Carlos Ruiz |
| ASSETS: | $ Amount |
|---|---|
| Cash & Equivalents | 149,563,280 |
| TOTAL INVESTMENTS | 136,984,997 |
| Loans Held for Sale | 4,216,362 |
| Real Estate Loans | 381,305,132 |
| Unsecured Loans | 36,140,213 |
| Other Loans | 299,113,039 |
| TOTAL LOANS | 716,558,384 |
| (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -4,589,289 |
| Land And Building | 0 |
| Other Fixed Assets | 3,276,374 |
| NCUSIF Deposit | 8,175,662 |
| All Other Assets | 45,968,860 |
| TOTAL ASSETS | 1,060,154,630 |
| LIABILITIES & CAPITAL: | |
| Dividends Payable | 1,807 |
| Notes & Interest Payable | 0 |
| Accounts Payable & Other Liabilities | 15,823,886 |
| Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
| Share Drafts | 254,626,913 |
| Regular shares | 306,903,726 |
| All Other Shares & Deposits | 404,946,955 |
| TOTAL SHARES & DEPOSITS | 966,477,594 |
| TOTAL LIABILITIES | 982,303,287 |
| Regular Reserve | 5,201,501 |
| Other Reserves | -1,473,141 |
| Undivided Earnings | 74,122,983 |
| TOTAL EQUITY | 77,851,343 |
| TOTAL LIABILITIES, SHARES, & EQUITY | 1,060,154,630 |
| INCOME & EXPENSE | |
| Loan Income | 28,276,133 |
| Investment Income | 1,090,604 |
| Other Income | 3,539,052 |
| Total Employee Compensation & Benefits | 16,572,098 |
| NCUSIF Premiums Expense | 0 |
| Total Other Operating Expenses | 24,408,399 |
| Non-operating Income & (Expense) | 239,330 |
| NCUSIF Stabilization Income | N/A |
| Provision for Loan/Lease Losses or Total Credit Loss Expense | 285,815 |
| Cost of Funds | 2,335,915 |
| NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
| Net Income (Loss) | 169,511 |
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