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Seattle Metropolitan Credit Union

Based on 1 review
Overview / Commentary
206-398-5500
801 3rd Ave
Seattle, WA 98104

Seattle Metropolitan Credit Union is headquartered in Seattle and is the 15st largest credit union in the state of Washington. It is also the 370th largest credit union in the nation. It was established in 1933 and as of December of 2013, it had grown to 134 employees and 41,585 members. Seattle Metropolitan Credit Union has a B+ health rating.

Field of Membership Restrictions

Must live or work in the State of Washington. Also open to employees of the City of Seattle or several other Select Employer Groups. - See Details

Reviews (1)

Avoid This Credit Union

terrible--have great credit yet they treat me like I have terrible credit---they signed  me up for overdraft protection and still charged me for NSF! On top of that they keep changing policies without notice.Closed acct and am happy with BECU



Health

Data for Q4 2013

Institution Health

B+

Texas Ratio

GRADE:
A

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 Seattle Metropolitan Credit Union had $4.49 million in non-current loans and owned real-estate with $55.4 million in equity and loan loss allowances on hand to cover it. This gives Seattle Metropolitan Credit Union a Texas Ratio of 8.10% 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 Seattle Metropolitan Credit Union experienced no significant changes from 6.90% as of December 31, 2012 to 8.10% as of December 31, 2013, resulting in a negative change of 17.29%. This indicates that the balance sheet and financial strength for Seattle Metropolitan Credit Union has had no significant changes in recent periods.

Deposit Growth

GRADE:
B+

In the past year, Seattle Metropolitan Credit Union has increased its total deposits by $11.25 million, resulting in 2.14% 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 Seattle Metropolitan Credit Union has shown is above average.

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. Seattle Metropolitan Credit Union has $595.3 million in assets with $55.4 million in equity, resulting in a capitalization level of 9.31%, which is average.

Institution Statistics

Overall
NCUA #68315
Year Chartered1933
Employees134
Primary Regulator
Assets and Liabilities
Assets$595.30 million
Loans$363.44 million
Deposits$537.87 million
Equity Capital$51.87 million
Loan Loss Allowance$3.54 million
Unbacked Noncurrent Loans$4.28 million
Real Estate Owned$207,000
Historic Data - December 2012
Assets$582.45 million
Equity Capital$49.50 million
Loan Loss Allowance$5.58 million
Unbacked Noncurrent Loans$4.28 million
Real Estate Owned$1.04 million
Profit Margin - Quarterly
Net Interest Margin4.73%
Return on Assets0.84%
Return on Equity9.68%
Interest Income$20.04 million
Rates

Always verify rates and promotions with the bank or credit union. We are not Seattle Metropolitan Credit Union, we are a rate comparison website and can not provide official rates or promotions.

Seattle Metropolitan Credit Union Savings Account Rates

DetailsAPYMINMAXPRODUCT
0.15%--IRA Savings Account
0.15%--Roth IRA Savings Accounts
0.05%--Savings Account
0.05%--Business Savings Account

Seattle Metropolitan Credit Union Money Market Rates

DetailsAPYMINMAXPRODUCT
0.10%$25k-Money Market Account
0.10%$25k-Business Money Market Account

Seattle Metropolitan Credit Union Checking Account Rates

DetailsAPYMINMAXPRODUCT
6.14%-$500Feel Good Checking Account
0.08%$10k-High Yield Checking Account
0.05%$300-Classic Checking Account
0.05%--Small Business Checking
0.05%--Business Checking Account

Seattle Metropolitan Credit Union CD Rates

DetailsAPYMINMAXPRODUCT
1.00%$1k-5 Year CD
1.00%$1k-Business 5 Year CD
0.80%$1k-4 - 5 Year CD
0.80%$1k-Business 4 - 5 Year CD
0.60%$1k-3 - 4 Year CD
0.60%$1k-Business 3 - 4 Year CD
0.40%$1k-2 - 3 Year CD
0.40%$1k-Business 2 - 3 Year CD
0.20%$1k-18 - 24 Month CD
0.15%$100k-4 - 6 Month Super Jumbo CD
0.15%$1k-12 - 18 Month CD
0.15%$100k-Business 4 - 6 Month Super Jumbo CD
0.15%$1k-Business 12 - 24 Month CD
0.10%$1k-6 - 12 Month CD
0.10%$50k-4 - 6 Month Jumbo CD
0.10%$50k-Business 4 - 6 Month Jumbo CD
0.10%$1k-Business 6 - 12 Month CD
0.05%$50k-2 - 4 Month Jumbo CD
0.05%$100k-2 - 4 Month Super Jumbo CD
0.05%$1k-3 - 6 Month CD
0.05%$50k-Business 2 - 4 Month Jumbo CD
0.05%$100k-Business 2 - 4 Month Super Jumbo CD

Seattle Metropolitan Credit Union IRA Rates

DetailsAPYMINMAXPRODUCT
1.00%$1k-5 Year IRA (Traditional,Roth)
0.80%$1k-4 - 5 Year IRA (Traditional,Roth)
0.60%$1k-3 - 4 Year IRA (Traditional,Roth)
0.40%$1k-2 - 3 Year IRA (Traditional,Roth)
0.20%$1k-18 - 24 Month IRA (Traditional,Roth)
0.15%$1k-12 - 18 Month IRA (Traditional,Roth)
0.10%$1k-6 - 12 Month IRA (Traditional,Roth)
Locations


Seattle Metropolitan Credit Union Locations
Branch Office500 S Michigan StSeattle, WA 98108-3304
Branch Office801 3rd AveSeattle, WA 98104
Branch Office365 Kirkland AveKirkland, WA 98033-6221
Branch Office120 Andover Park E Ste 120Tukwila, WA 98188-2910
Branch Office3621 33rd Ave S Ste C1Seattle, WA 98144-6962
Branch Office3925 196th St SW Ste CLynnwood, WA 98036-5798
Branch Office10700 Meridian Ave N Ste G11Seattle, WA 98133-9008