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Overview / Commentary
425-888-4004
P.O. Box 1978
Snoqualmie, WA 98065

Sno Falls Credit Union is headquartered in Snoqualmie and is the 56th largest credit union in the state of Washington. It is also the 2,266th largest credit union in the nation. It was established in 1957 and as of December of 2013, it had grown to 15 employees and 7,375 members. Sno Falls Credit Union's savings rates are 6X the national average, and it has a B health rating.

Field of Membership Restrictions

Must live or work in any of the selected school districts in the state of Washington. - See Details

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Health

Data for Q4 2013

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. Sno Falls Credit Union has a relatively low asset base.

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 Sno Falls Credit Union had $230,000 in non-current loans and owned real-estate with $3.99 million in equity and loan loss allowances on hand to cover it. This gives Sno Falls Credit Union a Texas Ratio of 5.76% 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 Sno Falls Credit Union decreased dramatically from 21.99% as of December 31, 2012 to 5.76% as of December 31, 2013, resulting in a positive change of 73.80%.This indicates that the balance sheet and financial strength for Sno Falls Credit Union has improved dramatically in recent periods.

Deposit Growth

GRADE:
D

In the past year, Sno Falls Credit Union has decreased its total deposits by -$2.66 million, resulting in -5.54% 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 Sno Falls Credit Union has shown is below 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. Sno Falls Credit Union has $50.18 million in assets with $3.99 million in equity, resulting in a capitalization level of 7.96%, which is below average.

Institution Statistics

Overall
NCUA #68293
Year Chartered1957
Employees15
Primary Regulator
Assets and Liabilities
Assets$50.18 million
Loans$34.65 million
Deposits$45.32 million
Equity Capital$3.70 million
Loan Loss Allowance$293,000
Unbacked Noncurrent Loans$230,000
Real Estate Owned$0
Historic Data - December 2012
Assets$52.54 million
Equity Capital$3.47 million
Loan Loss Allowance$591,000
Unbacked Noncurrent Loans$230,000
Real Estate Owned$0
Profit Margin - Quarterly
Net Interest Margin5.1%
Return on Assets0.45%
Return on Equity6.16%
Interest Income$1.90 million
Rates
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Sno Falls Credit Union Savings Account Rates

DetailsAPYMINMAXPRODUCT
3.01%-$2,500Swipe & Save
0.99%-$500Rocky Raccoon
0.99%-$500Youth
0.15%--Traditional IRA
0.15%--Coverdell ESA
0.15%--Roth IRA
0.15%--Roth Conversion
0.05%$2,500-Savings Plus
0.03%$25-Regular Share
0.03%--Other Savings
0.03%$25-UTTMA Share
0.03%--Christmas Club
Locations


Sno Falls Credit Union Locations
Branch Office460 E North Bend WayNorth Bend, WA 98045
Branch Office7730 Center Blvd SESnoqualmie, WA 98065
Branch Office9025 Meadowbrook Way SESnoqualmie, WA 98065