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National Credit Union Service Organization

KITSAP CREDIT UNION

Dec, 31, 2023 — KITSAP CREDIT UNION is a federally insured state chartered credit union headquartered in BREMERTON, WA with 14 branch locations and about $2.37 billion in total assets. Opened 90 years ago in 1934, KITSAP CREDIT UNION has about 160,169 members and employs 321 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:160,169
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, 2023
FHLB Member:Yes
Low Income Designation:No
Assets:$2,368,999,062
CEO/Manager:Shawn Gilfedder
Chairperson:Tony Bolander

Call Report

  • First Time Homebuyer Program

Financial Summary

» See also Statement of Financial Condition
ASSETS:$ Amount
Cash & Equivalents 129,135,830
TOTAL INVESTMENTS 0
Loans Held for Sale 0
 
 Real Estate Loans 618,931,191
 Unsecured Loans 117,339,730
 Other Loans 1,098,684,586
 TOTAL LOANS 1,834,972,256
 (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) -24,819,622
 Land And Building 25,758,665
 Other Fixed Assets 3,639,838
 NCUSIF Deposit 17,663,148
 All Other Assets 2,191,759
  TOTAL ASSETS 2,368,999,062
LIABILITIES & CAPITAL:  
 Dividends Payable 0
 Notes & Interest Payable 211,000,000
 Accounts Payable & Other Liabilities 26,738,370
 Uninsured Secondary Capital and Subordinated Debt Included in Net Worth 0
 Share Drafts 452,154,369
 Regular shares 430,671,025
 All Other Shares & Deposits 1,118,018,495
  TOTAL SHARES & DEPOSITS 2,000,843,888
  TOTAL LIABILITIES 2,238,583,379
 Regular Reserve 0
 Other Reserves -59,862,639
 Undivided Earnings 190,278,322
  TOTAL EQUITY 130,415,683
  TOTAL LIABILITIES, SHARES, & EQUITY 2,368,999,062
INCOME & EXPENSE  
 Loan Income 101,698,127
 Investment Income 9,924,941
 Other Income 10,127,161
 Total Employee Compensation & Benefits 33,222,886
 NCUSIF Premiums Expense 0
 Total Other Operating Expenses 38,314,296
 Non-operating Income & (Expense) 404,424
 NCUSIF Stabilization Income N/A
 Provision for Loan/Lease Losses or Total Credit Loss Expense 19,159,233
 Cost of Funds 36,649,404
 NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM N/A
Net Income (Loss) 9,082,741
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