Sep, 30, 2025 — KITSAP CREDIT UNION is a federally insured state chartered credit union headquartered in BREMERTON, WA with 14 branch locations and about $2.44 billion in total assets. Opened 92 years ago in 1934, KITSAP CREDIT UNION has about 162,341 members and employs 332 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.
| Name: | KITSAP CREDIT UNION |
|---|---|
| Address: (Main Office) | 155 Washington Ave BREMERTON, WA 98337-5606 |
| Phone: | (360) 662-2000 |
| Fax: | (360) 479-4373 |
| Website: | https://www.kitsapcu.org |
| Branches: | 14 branch locations |
| Members: | 162,341 |
| Credit Union Type: | Federally Insured State Chartered Credit Union |
| Charter Number: | 68576 |
|---|---|
| Membership Type: | State chartered natural person |
| Corporate Credit Union: | No |
| Year Opened: | 1934 |
| Last Audited: | Sep 01, 2024 |
| FHLB Member: | Yes |
| Low Income Designation: | No |
| Assets: | $2,438,592,352 |
| CEO/Manager: | Shawn Gilfedder |
| Chairperson: | Mike Goonewardene |
| ASSETS: | $ Amount |
|---|---|
| Cash & Equivalents | 215,520,997 |
| TOTAL INVESTMENTS | 0 |
| Loans Held for Sale | 0 |
| Real Estate Loans | 739,270,252 |
| Unsecured Loans | 132,692,559 |
| Other Loans | 964,929,864 |
| TOTAL LOANS | 1,836,892,675 |
| (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -37,641,540 |
| Land And Building | 25,280,129 |
| Other Fixed Assets | 4,562,299 |
| NCUSIF (National Credit Union Share Insurance Fund) Deposit | 19,079,771 |
| All Other Assets | 3,459,395 |
| TOTAL ASSETS | 2,438,592,352 |
| LIABILITIES & CAPITAL: | |
| Dividends Payable | 0 |
| Notes & Interest Payable | 99,000,000 |
| Accounts Payable & Other Liabilities | 23,628,348 |
| Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
| Share Drafts | 456,397,715 |
| Regular shares | 357,314,058 |
| All Other Shares & Deposits | 1,352,750,676 |
| TOTAL SHARES & DEPOSITS | 2,166,462,450 |
| TOTAL LIABILITIES | 2,289,092,265 |
| Regular Reserve | 0 |
| Other Reserves | -46,478,547 |
| Undivided Earnings | 195,978,634 |
| TOTAL EQUITY | 149,500,087 |
| TOTAL LIABILITIES, SHARES, & EQUITY | 2,438,592,352 |
| INCOME & EXPENSE | |
| Loan Income | 92,668,188 |
| Investment Income | 11,932,017 |
| Other Income | 7,974,409 |
| Total Employee Compensation & Benefits | 29,019,499 |
| NCUSIF (National Credit Union Share Insurance Fund) Premiums Expense | 0 |
| Total Other Operating Expenses | 29,247,054 |
| Non-operating Income & (Expense) | 700,000 |
| NCUSIF Stabilization Income | N/A |
| Provision for Loan/Lease Losses or Total Credit Loss Expense | 25,511,761 |
| Cost of Funds | 36,090,420 |
| NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
| Net Income (Loss) | 5,913,698 |
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