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Overview / Commentary
800-848-0018
2121 152nd Ave NE
Redmond, WA 98052

Qualstar Credit Union is headquartered in Redmond and is the 24th largest credit union in the state of Washington. It is also the 611st largest credit union in the nation. It was established in 1952 and as of March of 2014, it had grown to 94 employees and 51,707 members. Qualstar Credit Union has a A+ health rating.

Field of Membership Restrictions

Must live or work in the Washington State. Also open to members or employees of several selected unions and companies. - See Details

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Health

Data for Q1 2014

Institution Health

A+

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 Qualstar Credit Union had $2.5 million in non-current loans and owned real-estate with $49.99 million in equity and loan loss allowances on hand to cover it. This gives Qualstar Credit Union a Texas Ratio of 5.01% 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 Qualstar Credit Union decreased dramatically from 11.27% as of March 31, 2013 to 5.01% as of March 31, 2014, resulting in a positive change of 55.53%.This indicates that the balance sheet and financial strength for Qualstar Credit Union has improved dramatically in recent periods.

Deposit Growth

GRADE:
A

In the past year, Qualstar Credit Union has increased its total deposits by $12.52 million, resulting in 4.27% 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 Qualstar Credit Union has shown is excellent.

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. Qualstar Credit Union has $355.58 million in assets with $49.99 million in equity, resulting in a capitalization level of 14.06%, which is excellent.

Institution Statistics

Overall
NCUA #68223
Year Chartered1952
Employees94
Primary Regulator
Assets and Liabilities
Assets$355.58 million
Loans$188.22 million
Deposits$306.10 million
Equity Capital$45.39 million
Loan Loss Allowance$4.61 million
Unbacked Noncurrent Loans$2.00 million
Real Estate Owned$503,000
Historic Data - March 2013
Assets$337.47 million
Equity Capital$41.76 million
Loan Loss Allowance$7.05 million
Unbacked Noncurrent Loans$2.00 million
Real Estate Owned$499,000
Profit Margin - Quarterly
Net Interest Margin1.44%
Return on Assets1.77%
Return on Equity13.89%
Interest Income$3.16 million
Rates

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Qualstar Credit Union Savings Account Rates

DetailsAPYMINMAXPRODUCT
0.30%--Holiday Club
0.30%--Youth Savings Account
0.25%--Savings Account
0.10%--Vacation Fund Access

Qualstar Credit Union Money Market Rates

DetailsAPYMINMAXPRODUCT
0.35%$100k-Money Market
0.35%$100k-IRA Money Market

Qualstar Credit Union Checking Account Rates

DetailsAPYMINMAXPRODUCT
0.25%$100k-Premier Checking
0.10%--Simply Checking
0.10%--MyCa$h Checking

Qualstar Credit Union CD Rates

DetailsAPYMINMAXPRODUCT
1.50%$100k-60 Month CD
1.26%$100k-48 Month CD
1.06%$100k-36 Month CD
0.90%$100k-30 Month CD
0.75%$100k-24 Month CD
0.60%$100k-18 Month CD
0.50%$100k-12 Month CD
0.35%$100k-6 Month CD
0.30%$100k-3 Month CD

Qualstar Credit Union IRA Rates

DetailsAPYMINMAXPRODUCT
1.50%$100k-60 Month IRA
1.26%$100k-48 Month IRA
1.06%$100k-36 Month IRA
0.75%$100k-24 Month IRA
0.60%$100k-18 Month IRA
0.50%$100k-12 Month IRA
0.35%$100k-6 Month IRA
Locations


Qualstar Credit Union Locations
Branch Office617 S 3rd St Ste ARenton, WA 98057-7514
Branch Office2115 152nd Ave NERedmond, WA 98052
Branch Office4027 Tacoma Mall Blvd Ste KTacoma, WA 98409-7701
Branch Office2502 Colby AveEverett, WA 98201
Branch Office2121 152nd Ave NERedmond, WA 98052
Branch Office2115 152ND AVE NEREDMOND, WA 98052
Branch Office1731 4TH AVE SSEATTLE, WA 98134
Branch Office25844 104th Ave SEKent, WA 98030