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National Credit Union Service Organization

VERITY CREDIT UNION

Jun, 30, 2023 — VERITY CREDIT UNION is a federally insured state chartered credit union headquartered in SEATTLE, WA with 8 branch locations and about $831.31 million in total assets. Opened 91 years ago in 1933, VERITY CREDIT UNION has about 40,826 members and employs 158 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: 325081885
Name:VERITY CREDIT UNION
Address:
(Main Office)
11027 Meridian Ave N
SEATTLE, WA 98133
Phone:(206) 440-9000
Fax:(206) 361-5300
Website:https://www.veritycu.com
Branches:8 branch locations
Members:40,826
Credit Union Type:Federally Insured State Chartered Credit Union
Charter Number:68517
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:$831,307,724
CEO/Manager:Tonita Webb
Chairperson:Nancy Woodland

Call Report

  • Credit Builder
  • First Time Homebuyer Program
  • International Remittances
  • Low Cost Wire Transfers

Financial Summary

» See also Statement of Financial Condition
ASSETS:$ Amount
Cash & Equivalents 42,855,124
TOTAL INVESTMENTS 0
Loans Held for Sale 63,050
 
 Real Estate Loans 357,079,185
 Unsecured Loans 37,215,207
 Other Loans 332,691,769
 TOTAL LOANS 726,986,161
 (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) -4,538,395
 Land And Building 6,207,838
 Other Fixed Assets 3,713,845
 NCUSIF Deposit 6,147,177
 All Other Assets 284,068
  TOTAL ASSETS 831,307,724
LIABILITIES & CAPITAL:  
 Dividends Payable 36,238
 Notes & Interest Payable 22,000,000
 Accounts Payable & Other Liabilities 25,222,041
 Uninsured Secondary Capital and Subordinated Debt Included in Net Worth 0
 Share Drafts 275,621,803
 Regular shares 219,530,214
 All Other Shares & Deposits 217,777,309
  TOTAL SHARES & DEPOSITS 712,929,326
  TOTAL LIABILITIES 760,187,605
 Regular Reserve 0
 Other Reserves -1,767,420
 Undivided Earnings 72,887,539
  TOTAL EQUITY 71,120,119
  TOTAL LIABILITIES, SHARES, & EQUITY 831,307,724
INCOME & EXPENSE  
 Loan Income 21,964,873
 Investment Income 931,246
 Other Income 3,632,722
 Total Employee Compensation & Benefits 11,997,608
 NCUSIF Premiums Expense 0
 Total Other Operating Expenses 12,352,260
 Non-operating Income & (Expense) 119,247
 NCUSIF Stabilization Income N/A
 Provision for Loan/Lease Losses or Total Credit Loss Expense 0
 Cost of Funds 709,924
 NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM N/A
Net Income (Loss) 6,051,467
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