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Overview / Commentary
2815 2nd Ave Ste 100
Seattle, WA 98121

Puget Sound CU is headquartered in Seattle and is the 80th largest credit union in the state of Washington. It is also the 3,623rd largest credit union in the nation. It was established in 1967 and as of December of 2013, it had grown to 5 employees and 3,115 members. Puget Sound CU has a C health rating.

Field of Membership Restrictions

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Data for Q4 2013

Institution Health

Additional Factors: Institutions with a small asset base or a short operating history can represent an instability risk beyond what their financial ratios indicate. Puget Sound CU has a low asset base.

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 Puget Sound CU had $193,000 in non-current loans and owned real-estate with $1.54 million in equity and loan loss allowances on hand to cover it. This gives Puget Sound CU a Texas Ratio of 12.56% which is above average. Any bank with a Texas Ratio near or greater than 100% is considered at risk.

Texas Ratio Trend


The Texas Ratio for Puget Sound CU increased slightly from 4.51% as of December 31, 2012 to 12.56% as of December 31, 2013, resulting in a negative change of 178.43%. This indicates that the balance sheet and financial strength for Puget Sound CU has declined slightly in recent periods.

Deposit Growth


In the past year, Puget Sound CU has decreased its total deposits by $-562,000, resulting in -3.19% 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 Puget Sound CU has shown is below 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. Puget Sound CU has $18.58 million in assets with $1.54 million in equity, resulting in a capitalization level of 8.27%, which is average.

Institution Statistics

NCUA #24837
Year Chartered1967
Primary Regulator
Assets and Liabilities
Assets$18.58 million
Loans$8.73 million
Deposits$17.08 million
Equity Capital$1.35 million
Loan Loss Allowance$184,000
Unbacked Noncurrent Loans$193,000
Real Estate Owned$0
Historic Data - December 2012
Assets$19.08 million
Equity Capital$1.41 million
Loan Loss Allowance$258,000
Unbacked Noncurrent Loans$193,000
Real Estate Owned$0
Profit Margin - Quarterly
Net Interest Margin6.67%
Return on Assets-0.28%
Return on Equity-3.84%
Interest Income$657,000
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Puget Sound CU Savings Account Rates

0.20%--Traditional IRA Shares
0.20%--Roth IRA Shares
0.20%--Coverdell ESA Shares
0.10%--Regular Shares
0.05%--Holiday Club
0.05%--Shares with a Purpose (SWAP)

Puget Sound CU Checking Account Rates

0.05%--Xtraordinary Checking

Puget Sound CU Locations
Branch Office2815 2nd Ave STE 100Seattle, WA 98121