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425-297-1000
2821 Hewitt Ave
Everett, WA 98201

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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Reviews (1)

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



Health

Data for Q4 2013

Institution Health

B+

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 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

GRADE:
C+

The Texas Ratio for NorthWest Plus Credit Union experienced no significant changes 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 had no significant changes in recent periods.

Deposit Growth

GRADE:
C-

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

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. 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 Chartered1939
Employees42
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 Margin4.62%
Return on Assets0.69%
Return on Equity6.57%
Interest Income$5.14 million
Rates

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

NorthWest Plus Credit Union Savings Account Rates

DetailsAPYMINMAXPRODUCT
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

DetailsAPYMINMAXPRODUCT
0.15%$2k-Money Market Account

NorthWest Plus Credit Union Checking Account Rates

DetailsAPYMINMAXPRODUCT
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

DetailsAPYMINMAXPRODUCT
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

DetailsAPYMINMAXPRODUCT
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)
Locations


NorthWest Plus Credit Union Locations
Branch Office115 Cedar StBurlington, WA 98233
Branch Office19725 40th Ave W Ste ALynnwood, WA 98036
Branch Office2821 Hewitt AveEverett, WA 98201
Branch Office221 State Ave Suite 103Marysville, WA 98270
Branch Office623 State Route 9 neLake Stevens, WA 98258
Branch Office9225 271st nwStanwood, WA 98292
Branch Office17021 Smokey Point BlvdArlington, WA 98223