NorthWest Plus Credit Union
NorthWest Plus Credit Union is headquartered in Everett and is the 33rd largest credit union in the state of Washington. It is also the 1,121st largest credit union in the nation. It was established in 1939 and as of December of 2013, it had grown to 42 employees and 16,561 members. NorthWest Plus Credit Union has a B+ health rating.
Field of Membership Restrictions
Membership is open to those that live, work or worship in Washington State or those that belong to one of our 100 Select Employer Groups. - See Details
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Unethical Buisiness Practices
Do not do buisiness with this bank unless you like being ripped off with exessive fees. Very Unethical buisiness practices to put it mildly
Data for Q4 2013
Institution Health
Texas Ratio
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 NorthWest Plus Credit Union had $1.04 million in non-current loans and owned real-estate with $16.51 million in equity and loan loss allowances on hand to cover it. This gives NorthWest Plus Credit Union a Texas Ratio of 6.30% 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 NorthWest Plus Credit Union held steady from 2.42% as of December 31, 2012 to 6.30% as of December 31, 2013, resulting in a negative change of 160.73%. This indicates that the balance sheet and financial strength for NorthWest Plus Credit Union has held steady in recent periods.
Deposit Growth
In the past year, NorthWest Plus Credit Union has decreased its total deposits by -$5.26 million, resulting in -3.81% 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 NorthWest Plus Credit Union has shown is below average.
Capitalization
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. NorthWest Plus Credit Union has $150.55 million in assets with $16.51 million in equity, resulting in a capitalization level of 10.97%, which is above average.
Institution Statistics
| Overall | |
|---|---|
| NCUA # | 67262 |
| Year Chartered | 1939 |
| Employees | 42 |
| Primary Regulator |
| Assets and Liabilities | |
|---|---|
| Assets | $150.55 million |
| Loans | $94.22 million |
| Deposits | $133.09 million |
| Equity Capital | $15.83 million |
| Loan Loss Allowance | $687,000 |
| Unbacked Noncurrent Loans | $755,000 |
| Real Estate Owned | $285,000 |
| Historic Data - December 2012 | |
|---|---|
| Assets | $155.38 million |
| Equity Capital | $16.01 million |
| Loan Loss Allowance | $1.01 million |
| Unbacked Noncurrent Loans | $755,000 |
| Real Estate Owned | $0 |
| Profit Margin - Quarterly | |
|---|---|
| Net Interest Margin | 4.62% |
| Return on Assets | 0.69% |
| Return on Equity | 6.57% |
| Interest Income | $5.14 million |
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NorthWest Plus Credit Union Savings Account Rates
| Details | APY | MIN | MAX | PRODUCT |
|---|---|---|---|---|
| 0.15% | - | - | Christmas Club | |
| 0.10% | - | - | Regular Savings | |
| 0.10% | - | - | Youth Savings | |
| 0.00% | - | - | IRA Savings | |
| 0.00% | - | - | Roth IRA Savings | |
| 0.00% | - | - | CESA Savings |
NorthWest Plus Credit Union Money Market Rates
| Details | APY | MIN | MAX | PRODUCT |
|---|---|---|---|---|
| 0.15% | $2k | - | Money Market Account |
NorthWest Plus Credit Union Checking Account Rates
| Details | APY | MIN | MAX | PRODUCT |
|---|---|---|---|---|
| 0.15% | $5k | - | Premium Business Checking | |
| 0.10% | $1,500 | - | Premium Interest Checking | |
| 0.05% | - | - | 50 Plus Checking | |
| 0.05% | - | - | Direct Checking |
NorthWest Plus Credit Union CD Rates
| Details | APY | MIN | MAX | PRODUCT |
|---|---|---|---|---|
| 1.20% | $100k | - | 48 - 60 Month CD | |
| 1.20% | $100k | - | 48 - 60 Month Youth CD | |
| 0.90% | $100k | - | 36 - 47 Month CD | |
| 0.90% | $100k | - | 36 - 47 Month Youth CD | |
| 0.65% | $100k | - | 24 - 35 Month CD | |
| 0.65% | $100k | - | 24 - 35 Month Youth CD | |
| 0.45% | $100k | - | 12 - 23 Month CD | |
| 0.45% | $100k | - | 12 - 23 Month Youth CD | |
| 0.35% | $100k | - | 6 - 11 Month CD | |
| 0.35% | $100k | - | 6 - 11 Month Youth CD | |
| 0.25% | $100k | - | 3 - 5 Month CD | |
| 0.25% | $100k | - | 3 - 5 Month Youth CD |
NorthWest Plus Credit Union IRA Rates
| Details | APY | MIN | MAX | PRODUCT |
|---|---|---|---|---|
| 1.20% | $100k | - | 48 - 60 Month IRA (Traditional,Roth,CESA) | |
| 0.90% | $100k | - | 36 - 47 Month IRA (Traditional,Roth,CESA) | |
| 0.65% | $100k | - | 24 - 35 Month IRA (Traditional,Roth,CESA) | |
| 0.45% | $100k | - | 12 - 23 Month IRA (Traditional,Roth,CESA) | |
| 0.35% | $100k | - | 6 - 11 Month IRA (Traditional,Roth,CESA) | |
| 0.25% | $100k | - | 3 - 5 Month IRA (Traditional,Roth,CESA) |
| NorthWest Plus Credit Union Locations | ||
|---|---|---|
| Branch Office | 115 Cedar St | Burlington, WA 98233 |
| Branch Office | 19725 40th Ave W Ste A | Lynnwood, WA 98036 |
| Branch Office | 2821 Hewitt Ave | Everett, WA 98201 |
| Branch Office | 221 State Ave Suite 103 | Marysville, WA 98270 |
| Branch Office | 623 State Route 9 ne | Lake Stevens, WA 98258 |
| Branch Office | 9225 271st nw | Stanwood, WA 98292 |
| Branch Office | 17021 Smokey Point Blvd | Arlington, WA 98223 |