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Overview / Commentary
206-628-4010
325 Eastlake Ave E
Seattle, WA 98109

School Employees Of Washington Credit Union is headquartered in Seattle and is the 12st largest credit union in the state of Washington. It is also the 228th largest credit union in the nation. It was established in 1936 and as of March of 2014, it had grown to 116 employees and 79,825 members. School Employees Of Washington Credit Union's savings rates are 12X the national average, and it boasts a A+ health rating.

Field of Membership Restrictions

Must be a resident or employee of any school in the State of Washington or be a student in Washington enrolled in a program to earn a teaching certificate. - See Details

Reviews (1)

Hassle-free banking

We've been using this credit union for about 8 years, and we just love it. The staff are friendly and helpful. We love that it's a small credit union because the service feels very personal. We've taken out a few loans, and they were so helpful and encouraging to us.

I also like the products they provide: savings accounts for my children, mobile deposit, easy & quick transfer of funds, etc. I do wish there wasn't a fee to exceed a certain number of transfers per month. I don't understand why they would charge such a fee.

They also let us open "savings envelopes" to keep track of specific savings. I wish this feature were available online instead of having to go in to the office, but I really enjoy the feature nonetheless. This has helped us to isolate funds for various savings goals.



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 School Employees Of Washington Credit Union had $1.14 million in non-current loans and owned real-estate with $99.68 million in equity and loan loss allowances on hand to cover it. This gives School Employees Of Washington Credit Union a Texas Ratio of 1.14% 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 School Employees Of Washington Credit Union decreased dramatically from 1.94% as of March 31, 2013 to 1.14% as of March 31, 2014, resulting in a positive change of 41.16%.This indicates that the balance sheet and financial strength for School Employees Of Washington Credit Union has improved dramatically in recent periods.

Deposit Growth

GRADE:
A

In the past year, School Employees Of Washington Credit Union has increased its total deposits by $27.13 million, resulting in 3.2% 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 School Employees Of Washington Credit Union has shown is excellent.

Capitalization

GRADE:
B+

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. School Employees Of Washington Credit Union has $980.73 million in assets with $99.68 million in equity, resulting in a capitalization level of 10.16%, which is above average.

Institution Statistics

Overall
NCUA #68362
Year Chartered1936
Employees116
Primary Regulator
Assets and Liabilities
Assets$980.73 million
Loans$420.19 million
Deposits$874.80 million
Equity Capital$96.67 million
Loan Loss Allowance$3.00 million
Unbacked Noncurrent Loans$1.14 million
Real Estate Owned$0
Historic Data - March 2013
Assets$952.65 million
Equity Capital$89.81 million
Loan Loss Allowance$3.15 million
Unbacked Noncurrent Loans$1.14 million
Real Estate Owned$0
Profit Margin - Quarterly
Net Interest Margin1.17%
Return on Assets0.66%
Return on Equity6.72%
Interest Income$6.30 million
Rates
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School Employees Of Washington Credit Union Savings Account Rates

DetailsAPYMINMAXPRODUCT
6.00%-$500Savings
1.51%--Coverdell Education Savings
0.25%--Traditional IRA Savings
0.25%--Roth IRA Savings

School Employees Of Washington Credit Union Checking Account Rates

DetailsAPYMINMAXPRODUCT
6.00%-$500Checking
Locations


School Employees Of Washington Credit Union Locations
Branch Office325 Eastlake Ave ESeattle, WA 98109
Branch Office1500 W 4th Ave Ste 100Spokane, WA 99201