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Overview / Commentary
155 Washington Ave
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 227th largest credit union in the nation. It was established in 1934 and as of March of 2014, it had grown to 280 employees and 92,396 members. Kitsap Credit Union has a A health rating.

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Data for Q1 2014

Institution Health


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 Kitsap Credit Union had $5.23 million in non-current loans and owned real-estate with $95.64 million in equity and loan loss allowances on hand to cover it. This gives Kitsap Credit Union a Texas Ratio of 5.47% 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 Kitsap Credit Union decreased dramatically from 10.80% as of March 31, 2013 to 5.47% as of March 31, 2014, resulting in a positive change of 49.37%.This indicates that the balance sheet and financial strength for Kitsap Credit Union has improved dramatically in recent periods.

Deposit Growth


In the past year, Kitsap Credit Union has increased its total deposits by $7.6 million, resulting in 0.86% 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.



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 $980.81 million in assets with $95.64 million in equity, resulting in a capitalization level of 9.75%, which is above average.

Institution Statistics

NCUA #68576
Year Chartered1934
Primary Regulator
Assets and Liabilities
Assets$980.81 million
Loans$623.80 million
Deposits$888.87 million
Equity Capital$84.40 million
Loan Loss Allowance$11.25 million
Unbacked Noncurrent Loans$3.29 million
Real Estate Owned$1.94 million
Historic Data - March 2013
Assets$997.00 million
Equity Capital$83.25 million
Loan Loss Allowance$14.03 million
Unbacked Noncurrent Loans$3.29 million
Real Estate Owned$3.44 million
Profit Margin - Quarterly
Return on Assets0.55%
Return on Equity6.39%
Interest Income$7.73 million

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Kitsap Credit Union Savings Account Rates

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

Kitsap Credit Union Money Market Rates

0.15%$100k-Money Market Account

Kitsap Credit Union Checking Account Rates

1.50%-$10kGold Checking - Qualifying

Kitsap Credit Union CD Rates

1.25%$500-5 Year Share Certificate
0.95%$500-5 Year Bump Share Certificate
0.70%$500-4 Year Share Certificate
0.60%$500-3 Year 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

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