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Puget Sound Refinery Credit Union

Puget Sound Refinery Credit Union
Overview / Commentary
12275 Bartholomew Rd
Anacortes, WA 98221

Puget Sound Refinery Credit Union is headquartered in Anacortes and is the 93rd largest credit union in the state of Washington. It is also the 4,478th largest credit union in the nation. It was established in 1954 and as of March of 2014, it had grown to 2 employees and 1,235 members. Puget Sound Refinery Credit Union has a B+ health rating.

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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. Puget Sound Refinery 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 Puget Sound Refinery Credit Union had $36,000 in non-current loans and owned real-estate with $1.43 million in equity and loan loss allowances on hand to cover it. This gives Puget Sound Refinery Credit Union a Texas Ratio of 2.51% which is excellent. Any bank with a Texas Ratio near or greater than 100% is considered at risk.

Texas Ratio Trend

GRADE:
A+

The Texas Ratio for Puget Sound Refinery Credit Union decreased dramatically from 4.57% as of March 31, 2013 to 2.51% as of March 31, 2014, resulting in a positive change of 45.00%.This indicates that the balance sheet and financial strength for Puget Sound Refinery Credit Union has improved dramatically in recent periods.

Deposit Growth

GRADE:
B+

In the past year, Puget Sound Refinery Credit Union has increased its total deposits by $245,000, resulting in 2.92% 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 Refinery Credit Union has shown is above average.

Capitalization

GRADE:
A+

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 Refinery Credit Union has $10.06 million in assets with $1.43 million in equity, resulting in a capitalization level of 14.24%, which is excellent.

Institution Statistics

Overall
NCUA #9145
Year Chartered1954
Employees2
Primary Regulator
Assets and Liabilities
Assets$10.06 million
Loans$5.17 million
Deposits$8.64 million
Equity Capital$1.41 million
Loan Loss Allowance$27,000
Unbacked Noncurrent Loans$36,000
Real Estate Owned$0
Historic Data - March 2013
Assets$9.79 million
Equity Capital$1.38 million
Loan Loss Allowance$46,000
Unbacked Noncurrent Loans$36,000
Real Estate Owned$0
Profit Margin - Quarterly
Return on Assets-0.99%
Return on Equity-7.11%
Interest Income$66,000
Rates

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Locations


Puget Sound Refinery Credit Union Locations
Branch Office12275 Bartholomew RdAnacortes, WA 98221