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Overview / Commentary
1018 Union Ave SE
Olympia, WA 98501-1540

Evergreen Direct Credit Union is headquartered in Olympia and is the 60th largest credit union in the state of Washington. It is also the 2,352nd largest credit union in the nation. It was established in 1977 and as of March of 2014, it had grown to 21 employees and 4,898 members. Evergreen Direct Credit Union has a B+ health rating.

Field of Membership Restrictions

Must live, work or worship in Washington State or be a part of any school district in Washington State - See Details

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Data for Q1 2014

Institution Health

Additional Factors: Institutions with a small asset base or a short operating history can represent an instability risk beyond what their financial ratios indicate. Evergreen Direct Credit Union has a low asset base.

Texas Ratio


The Texas Ratio is an indicator of how much capital a bank has available compared to the total value of loans considered at risk. As of March 31, 2014 Evergreen Direct Credit Union had $351,000 in non-current loans and owned real-estate with $6.26 million in equity and loan loss allowances on hand to cover it. This gives Evergreen Direct Credit Union a Texas Ratio of 5.61% which is excellent. Any bank with a Texas Ratio near or greater than 100% is considered at risk.

Texas Ratio Trend


The Texas Ratio for Evergreen Direct Credit Union decreased slightly from 6.43% as of March 31, 2013 to 5.61% as of March 31, 2014, resulting in a positive change of 12.83%.This indicates that the balance sheet and financial strength for Evergreen Direct Credit Union has improved slightly in recent periods.

Deposit Growth


In the past year, Evergreen Direct Credit Union has increased its total deposits by $2.81 million, resulting in 7.27% growth for the year. A strong track record of growth is an indicator of consumer confidence and the bank's ability to strengthen its balance sheet. The growth Evergreen Direct Credit Union has shown is excellent.



Both FDIC and NCUA consider capitalization levels of banks and credit unions to be of high importance. Higher capitalization allows for a greater buffer when cover loans that may fail in the future. Evergreen Direct Credit Union has $47.85 million in assets with $6.26 million in equity, resulting in a capitalization level of 13.08%, which is excellent.

Institution Statistics

NCUA #68546
Year Chartered1977
Primary Regulator
Assets and Liabilities
Assets$47.85 million
Loans$31.49 million
Deposits$41.51 million
Equity Capital$5.71 million
Loan Loss Allowance$547,000
Unbacked Noncurrent Loans$296,000
Real Estate Owned$55,000
Historic Data - March 2013
Assets$45.80 million
Equity Capital$5.68 million
Loan Loss Allowance$525,000
Unbacked Noncurrent Loans$296,000
Real Estate Owned$0
Profit Margin - Quarterly
Return on Assets0.08%
Return on Equity0.7%
Interest Income$577,000

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Evergreen Direct Credit Union Savings Account Rates

0.35%$250-IRA Savings Account
0.35%$250-Roth IRA Savings Account
0.35%$250-Coverdell Education Savings Account
0.15%$250-Savings Account
0.15%$100-Limited Auxiliary Savings Account
0.15%$250-Unlimited Auxiliary Savings Account

Evergreen Direct Credit Union Money Market Rates

0.40%$50k-Money Market Account

Evergreen Direct Credit Union Checking Account Rates

0.10%--DIRECT Checking Account
0.10%--Complete Business Checking Account

Evergreen Direct Credit Union CD Rates

1.23%$1k-60 Month Share Certificate
1.03%$1k-48 Month Share Certificate
0.83%$1k-36 Month Share Certificate
0.63%$1k-24 Month Share Certificate
0.35%$1k-12 Month Share Certificate

Evergreen Direct Credit Union IRA Rates

1.23%$1k-60 Month IRA Certificate
1.03%$1k-48 Month IRA Certificate
0.83%$1k-36 Month IRA Certificate
0.63%$1k-24 Month IRA Certificate
0.35%$1k-12 Month IRA Certificate

Evergreen Direct Credit Union Locations
Branch Office1018 Union Ave SEOlympia, WA 98501-1540
Branch Office6101 Capitol Blvd SW STE BTumwater, WA 98501-8519