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Overview / Commentary
360-754-5559
P.O. Box 7549
Olympia, WA 98507

Olympia Credit Union is headquartered in Olympia and is the 68th largest credit union in the state of Washington. It is also the 2,860th largest credit union in the nation. It was established in 1965 and as of December of 2013, it had grown to 14 employees and 3,305 members. Olympia Credit Union has a C+ health rating.

Field of Membership Restrictions

Must live, work or go to school within Washington State. - See Details

Reviews (1)

Excellent!

Olympia Credit Union has excellent customer service and is always willing to help their members.



Health

Data for Q4 2013

Institution Health

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

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 Olympia Credit Union had $187,000 in non-current loans and owned real-estate with $2.85 million in equity and loan loss allowances on hand to cover it. This gives Olympia Credit Union a Texas Ratio of 6.56% 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 Olympia Credit Union experienced no significant changes from 2.32% as of December 31, 2012 to 6.56% as of December 31, 2013, resulting in a negative change of 183.13%. This indicates that the balance sheet and financial strength for Olympia Credit Union has had no significant changes in recent periods.

Deposit Growth

GRADE:
D

In the past year, Olympia Credit Union has decreased its total deposits by -$2.64 million, resulting in -8.51% 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 Olympia Credit Union has shown is below average.

Capitalization

GRADE:
C+

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. Olympia Credit Union has $31.61 million in assets with $2.85 million in equity, resulting in a capitalization level of 9.02%, which is average.

Institution Statistics

Overall
NCUA #68331
Year Chartered1965
Employees14
Primary Regulator
Assets and Liabilities
Assets$31.61 million
Loans$14.97 million
Deposits$28.43 million
Equity Capital$2.77 million
Loan Loss Allowance$77,000
Unbacked Noncurrent Loans$187,000
Real Estate Owned$0
Historic Data - December 2012
Assets$34.07 million
Equity Capital$2.76 million
Loan Loss Allowance$88,000
Unbacked Noncurrent Loans$187,000
Real Estate Owned$0
Profit Margin - Quarterly
Net Interest Margin4.69%
Return on Assets0.04%
Return on Equity0.43%
Interest Income$941,000
Rates
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Olympia Credit Union Savings Account Rates

DetailsAPYMINMAXPRODUCT
0.50%--IRA Share Account
0.25%--Christmas Club Account
0.25%--Vacation Club Account
0.05%$25-Regular Savings Account

Olympia Credit Union Money Market Rates

DetailsAPYMINMAXPRODUCT
0.30%$25k-Money Market Fund Account

Olympia Credit Union CD Rates

DetailsAPYMINMAXPRODUCT
1.01%$500-49-60 Month CD
0.80%$500-37-48 Month CD
0.60%$500-25-36 Month CD
0.40%$500-13-24 Month CD
0.35%$500-6-12 Month CD

Olympia Credit Union IRA Rates

DetailsAPYMINMAXPRODUCT
1.01%$500-49-60 Month IRA
0.80%$500-37-48 Month IRA
0.60%$500-25-36 Month IRA
0.40%$500-13-24 Month IRA
Locations


Olympia Credit Union Locations
Branch Office202 9th Ave SEOlympia, WA 98501-9315
Branch Office720 Sleater Kinney Rd SE Market Square Center Suite ZLacey, WA 98503-1139