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 |
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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 |
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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 |
ASSETS: | $ Amount |
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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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