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QUALSTAR CREDIT UNION

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.


ABA Routing Number: 325081966
Name:QUALSTAR CREDIT UNION
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
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

Call Report

  • Credit Builder
  • First Time Homebuyer Program
  • International Remittances

Financial Summary

» See also Statement of Financial Condition
ASSETS:$ Amount
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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