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Overview / Commentary
360-570-2292
3111 Pacific Ave SE
Olympia, WA 98501

Tulip Cooperative Credit Union is headquartered in Olympia and is the 102nd largest credit union in the state of Washington. It is also the 5,657th largest credit union in the nation. It was established in 2003 and as of March of 2014, it had grown to 3 employees and 1,175 members. Tulip Cooperative Credit Union has a C+ health rating.

Field of Membership Restrictions

Must be a resident of Thurston County who is designated as low-income or be a member of Olympia Food Coop. - See Details

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Health

Data for Q1 2014

Institution Health

C+
Additional Factors: Institutions with a small asset base or a short operating history can represent an instability risk beyond what their financial ratios indicate. Tulip Cooperative Credit Union has a very 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 Tulip Cooperative Credit Union had $11,000 in non-current loans and owned real-estate with $219,000 in equity and loan loss allowances on hand to cover it. This gives Tulip Cooperative Credit Union a Texas Ratio of 5.02% 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 Tulip Cooperative Credit Union decreased dramatically from 9.68% as of March 31, 2013 to 5.02% as of March 31, 2014, resulting in a positive change of 48.10%.This indicates that the balance sheet and financial strength for Tulip Cooperative Credit Union has improved dramatically in recent periods.

Deposit Growth

GRADE:
A+

In the past year, Tulip Cooperative Credit Union has increased its total deposits by $351,000, resulting in 14.34% 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 Tulip Cooperative Credit Union has shown is excellent.

Capitalization

GRADE:
F

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. Tulip Cooperative Credit Union has $3.14 million in assets with $52,000 in equity, resulting in a capitalization level of 1.65%, which is poor.

Institution Statistics

Overall
NCUA #68528
Year Chartered2003
Employees3
Primary Regulator
Assets and Liabilities
Assets$3.14 million
Loans$1.37 million
Deposits$2.80 million
Equity Capital$38,000
Secondary Capital$167,000
Loan Loss Allowance$14,000
Unbacked Noncurrent Loans$11,000
Real Estate Owned$0
Historic Data - March 2013
Assets$2.75 million
Equity Capital$52,000
Loan Loss Allowance$10,000
Unbacked Noncurrent Loans$11,000
Real Estate Owned$0
Profit Margin - Quarterly
Return on Assets1.65%
Return on Equity136.84%
Interest Income$34,000
Rates
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Tulip Cooperative Credit Union CD Rates

DetailsAPYMINMAXPRODUCT
0.60%$1k-2 Year CD
0.30%$1k-1 Year CD
0.15%$200-90 Day CD
0.15%$500-6 Month CD
0.10%$100-1 Month CD
Locations


Tulip Cooperative Credit Union Locations
Branch Office3111 Pacific Ave SEOlympia, WA 98501