Dec, 31, 2023 — QUALSTAR CREDIT UNION is a federally insured state chartered credit union headquartered in BOTHELL, WA with 4 branch locations and about $983.71 million in total assets. Opened 72 years ago in 1952, QUALSTAR CREDIT UNION has about 69,757 members and employs 123 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.
Name: | QUALSTAR CREDIT UNION |
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Address: (Main Office) | 24000 35th Ave SE # 200 BOTHELL, WA 98021-8990 |
Phone: | (800) 848-0018 |
Fax: | |
Website: | https://www.qualstarcu.com |
Branches: | 4 branch locations |
Members: | 69,757 |
Credit Union Type: | Federally Insured State Chartered Credit Union |
Charter Number: | 68223 |
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Membership Type: | State chartered natural person |
Corporate Credit Union: | No |
Year Opened: | 1952 |
Last Audited: | Sep 01, 2023 |
FHLB Member: | No |
Low Income Designation: | No |
Assets: | $983,711,974 |
CEO/Manager: | MICHAEL G ELFSTROM |
Chairperson: | MITCH JOHNSON |
ASSETS: | $ Amount |
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Cash & Equivalents | 173,504,653 |
TOTAL INVESTMENTS | 0 |
Loans Held for Sale | 0 |
Real Estate Loans | 206,878,041 |
Unsecured Loans | 116,994,956 |
Other Loans | 178,735,247 |
TOTAL LOANS | 502,608,245 |
(Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -11,981,096 |
Land And Building | 14,702,768 |
Other Fixed Assets | 1,262,680 |
NCUSIF Deposit | 6,220,893 |
All Other Assets | 338,098 |
TOTAL ASSETS | 983,711,974 |
LIABILITIES & CAPITAL: | |
Dividends Payable | 1,256,104 |
Notes & Interest Payable | 206,526,301 |
Accounts Payable & Other Liabilities | 9,006,667 |
Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
Share Drafts | 148,216,599 |
Regular shares | 94,882,469 |
All Other Shares & Deposits | 412,028,005 |
TOTAL SHARES & DEPOSITS | 655,127,074 |
TOTAL LIABILITIES | 871,916,146 |
Regular Reserve | 0 |
Other Reserves | -461,144 |
Undivided Earnings | 112,256,972 |
TOTAL EQUITY | 111,795,828 |
TOTAL LIABILITIES, SHARES, & EQUITY | 983,711,974 |
INCOME & EXPENSE | |
Loan Income | 35,968,353 |
Investment Income | 8,297,698 |
Other Income | 3,324,826 |
Total Employee Compensation & Benefits | 11,762,246 |
NCUSIF Premiums Expense | 0 |
Total Other Operating Expenses | 10,107,758 |
Non-operating Income & (Expense) | 500 |
NCUSIF Stabilization Income | N/A |
Provision for Loan/Lease Losses or Total Credit Loss Expense | 5,231,196 |
Cost of Funds | 18,765,791 |
NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
Net Income (Loss) | 7,037,538 |
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