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Overview / Commentary
800-422-5852
P.O. Box 990
Bremerton, WA 98337

Kitsap Credit Union is headquartered in Bremerton and is the 11st largest credit union in the state of Washington. It is also the 220th largest credit union in the nation. It was established in 1934 and as of December of 2013, it had grown to 295 employees and 92,644 members. Kitsap Credit Union has a A health rating.

Field of Membership Restrictions

If you live or work in Washington State, you're eligible to become a member of Kitsap Credit Union. - See Details

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Health

Data for Q4 2013

Institution Health

A

Texas Ratio

GRADE:
A+

The Texas Ratio is an indicator of how much funds a bank has available compared to the total value of loans considered at risk. As of December 31, 2013 Kitsap Credit Union had $6.86 million in non-current loans and owned real-estate with $94.29 million in equity and loan loss allowances on hand to cover it. This gives Kitsap Credit Union a Texas Ratio of 7.28% which is excellent. Any bank with a Texas Ratio near or greater than 100% is considered at risk.

Texas Ratio Trend

GRADE:
A

The Texas Ratio for Kitsap Credit Union decreased dramatically from 11.59% as of December 31, 2012 to 7.28% as of December 31, 2013, resulting in a positive change of 37.17%.This indicates that the balance sheet and financial strength for Kitsap Credit Union has improved dramatically in recent periods.

Deposit Growth

GRADE:
B+

In the past year, Kitsap Credit Union has increased its total deposits by $24.97 million, resulting in 2.95% 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 Kitsap Credit Union has shown is above average.

Capitalization

GRADE:
B

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. Kitsap Credit Union has $961.31 million in assets with $94.29 million in equity, resulting in a capitalization level of 9.81%, which is above average.

Institution Statistics

Overall
NCUA #68576
Year Chartered1934
Employees295
Primary Regulator
Assets and Liabilities
Assets$961.31 million
Loans$621.05 million
Deposits$872.46 million
Equity Capital$82.14 million
Loan Loss Allowance$12.15 million
Unbacked Noncurrent Loans$4.75 million
Real Estate Owned$2.12 million
Historic Data - December 2012
Assets$963.05 million
Equity Capital$84.17 million
Loan Loss Allowance$14.27 million
Unbacked Noncurrent Loans$4.75 million
Real Estate Owned$4.69 million
Profit Margin - Quarterly
Net Interest Margin4.42%
Return on Assets0.23%
Return on Equity2.67%
Interest Income$32.14 million
Rates

Always verify rates and promotions with the bank or credit union. We are not Kitsap Credit Union, we are a rate comparison website and can not provide official rates or promotions.

Kitsap Credit Union Savings Account Rates

DetailsAPYMINMAXPRODUCT
0.01%$25-Regular Share
0.01%$25-Holiday Savings
0.01%$25-Varsity Savings
0.01%--Kid's Club

Kitsap Credit Union Money Market Rates

DetailsAPYMINMAXPRODUCT
0.15%$100k-Money Market Account

Kitsap Credit Union Checking Account Rates

DetailsAPYMINMAXPRODUCT
1.50%-$10kGold Checking
0.00%--Gold Checking
0.00%--Classic Checking
0.00%--Varsity Checking

Kitsap Credit Union CD Rates

DetailsAPYMINMAXPRODUCT
0.90%$500-5 Year Share Certificate
0.70%$500-4 Year Share Certificate
0.60%$500-3 Year Share Certificate
0.60%$500-5 Year Bump Share Certificate
0.45%$500-4 Year Bump Share Certificate
0.45%$90k-Jumbo 1 year CD
0.40%$500-2 Year Share Certificate
0.40%$500-3 Year Bump Share Certificate
0.35%$50k-Mini Jumbo 6 month CD
0.25%$500-18 Month Add-On Share Certificate
0.25%$500-2 Year Bump Share Certificate
0.25%$500-2 Year Add-On Share Certificate
0.20%$500-1 Year Share Certificate
0.20%$100-1 Year Youth Saver Certificates
0.15%$500-6 Month Share Certificate
0.15%$500-1 Year Bump Share Certificate
0.15%$500-1 Year Add-On Share Certificate
0.15%$100-6 Month Youth Saver Certificates
Locations

Kitsap Credit Union has 21 locations. Click to view all Kitsap Credit Union locations.