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Overview / Commentary
206-728-3040
17801 International Blvd Rm 6449M
Seatac, WA 98158

Port Of Seattle Credit Union is headquartered in Seatac and is the 85th largest credit union in the state of Washington. It is also the 4,282nd largest credit union in the nation. It was established in 1961 and as of March of 2014, it had grown to 3 employees and 1,713 members. Port Of Seattle Credit Union has a B health rating.

Field of Membership Restrictions

Must be an employee of one of the several select employee groups. - See Details

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Health

Data for Q1 2014

Institution Health

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

Texas Ratio

GRADE:
A+

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 Port Of Seattle Credit Union had $16,000 in non-current loans and owned real-estate with $778,000 in equity and loan loss allowances on hand to cover it. This gives Port Of Seattle Credit Union a Texas Ratio of 2.06% 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 Port Of Seattle Credit Union experienced no significant changes from 1.15% as of March 31, 2013 to 2.06% as of March 31, 2014, resulting in a negative change of 79.13%. This indicates that the balance sheet and financial strength for Port Of Seattle Credit Union has had no significant changes in recent periods.

Deposit Growth

GRADE:
A+

In the past year, Port Of Seattle Credit Union has increased its total deposits by $600,000, resulting in 5.78% 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 Port Of Seattle Credit Union has shown is excellent.

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. Port Of Seattle Credit Union has $11.82 million in assets with $778,000 in equity, resulting in a capitalization level of 6.58%, which is below average.

Institution Statistics

Overall
NCUA #14630
Year Chartered1961
Employees3
Primary Regulator
Assets and Liabilities
Assets$11.82 million
Loans$4.75 million
Deposits$10.98 million
Equity Capital$756,000
Loan Loss Allowance$22,000
Unbacked Noncurrent Loans$16,000
Real Estate Owned$0
Historic Data - March 2013
Assets$11.26 million
Equity Capital$823,000
Loan Loss Allowance$48,000
Unbacked Noncurrent Loans$16,000
Real Estate Owned$0
Profit Margin - Quarterly
Return on Assets-0.27%
Return on Equity-4.23%
Interest Income$75,000
Rates
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Port Of Seattle Credit Union Savings Account Rates

DetailsAPYMINMAXPRODUCT
0.05%--Regular Share

Port Of Seattle Credit Union Money Market Rates

DetailsAPYMINMAXPRODUCT
0.10%--Money Market Share

Port Of Seattle Credit Union CD Rates

DetailsAPYMINMAXPRODUCT
0.30%--24 Month Share Certificate
0.20%--12 Month Share Certificate
0.13%--6 Month Share Certificate
Locations


Port Of Seattle Credit Union Locations
Branch Office17801 International Blvd Rm 6449MSeatac, WA 98158