Dec, 31, 2023 — TWINSTAR CREDIT UNION is a federally insured state chartered credit union headquartered in LACEY, WA with 37 branch locations and about $4.20 billion in total assets. Opened 86 years ago in 1938, TWINSTAR CREDIT UNION has about 256,254 members and employs 790 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.
| Name: | TWINSTAR CREDIT UNION |
|---|---|
| Address: (Main Office) | 4501 INTELCO LOOP SE LACEY, WA 98503 |
| Phone: | (800) 258-3115 |
| Fax: | |
| Website: | https://www.twinstarcu.com |
| Branches: | 37 branch locations |
| Members: | 256,254 |
| Credit Union Type: | Federally Insured State Chartered Credit Union |
| Charter Number: | 68271 |
|---|---|
| Membership Type: | State chartered natural person |
| Corporate Credit Union: | No |
| Year Opened: | 1938 |
| Last Audited: | Dec 01, 2022 |
| FHLB Member: | Yes |
| Low Income Designation: | No |
| Assets: | $4,200,815,748 |
| CEO/Manager: | Jeff Kennedy |
| Chairperson: | David Rainwater |
| ASSETS: | $ Amount |
|---|---|
| Cash & Equivalents | 240,727,262 |
| TOTAL INVESTMENTS | 0 |
| Loans Held for Sale | 300,000 |
| Real Estate Loans | 1,193,209,841 |
| Unsecured Loans | 283,127,636 |
| Other Loans | 1,760,500,776 |
| TOTAL LOANS | 3,236,881,774 |
| (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -28,692,636 |
| Land And Building | 63,465,212 |
| Other Fixed Assets | 15,330,060 |
| NCUSIF Deposit | 32,285,909 |
| All Other Assets | 492,845 |
| TOTAL ASSETS | 4,200,815,748 |
| LIABILITIES & CAPITAL: | |
| Dividends Payable | 0 |
| Notes & Interest Payable | 305,000,000 |
| Accounts Payable & Other Liabilities | 63,533,518 |
| Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
| Share Drafts | 1,061,099,381 |
| Regular shares | 896,112,045 |
| All Other Shares & Deposits | 1,489,830,254 |
| TOTAL SHARES & DEPOSITS | 3,447,041,682 |
| TOTAL LIABILITIES | 3,815,579,502 |
| Regular Reserve | 0 |
| Other Reserves | 144,337,475 |
| Undivided Earnings | 240,898,771 |
| TOTAL EQUITY | 385,236,246 |
| TOTAL LIABILITIES, SHARES, & EQUITY | 4,200,815,748 |
| INCOME & EXPENSE | |
| Loan Income | 163,831,205 |
| Investment Income | 20,850,664 |
| Other Income | 20,506,844 |
| Total Employee Compensation & Benefits | 69,681,718 |
| NCUSIF Premiums Expense | 0 |
| Total Other Operating Expenses | 53,372,145 |
| Non-operating Income & (Expense) | 1,242,864 |
| NCUSIF Stabilization Income | N/A |
| Provision for Loan/Lease Losses or Total Credit Loss Expense | 27,670,691 |
| Cost of Funds | 50,881,807 |
| NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
| Net Income (Loss) | 32,289,793 |
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