5 star ratingAverage User Rating:
5 star rating based on 1 review.

Verity Credit Union

Verity Credit Union Locations
18530 33rd Ave. W.
Seattle, WA 98133
(800) 444-4589
www.veritycu.com



Verity Credit Union is headquartered in Seattle and is the 20th largest credit union in the state of Washington. It is also the 503rd largest credit union in the nation. It was established in 1933 and as of September of 2011, it had grown to 100 employees and 25,779 members. Verity Credit Union has a 3-star health rating.

Verity Credit Union Routing Number: 325081885

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2.00% 6-Month CD at Verity Credit Union in Washington State - Local Only - 11/10/2009

Verity Credit Union is offering a 6-month certificate special with a 2.00% APY. Minimum deposit is $1,000. It's scheduled to end on November 13, 2009. This special is listed in this credit union page as of 11/10/2009.Membership is open to anyone who...

2.55% Reward Checking Account at a Washington State CU (Verity) - 12/18/2007

Update 1/10/10: The top rate has fallen to 2.55% APY. See bottom of post for the rate history.Verity Credit Union has a reward checking account called Cartwheel Checking that pays 2.55% APY on balances up to $10,000 (0.75% for over) and refunds ATM fees...



See Rates for: Checking | Savings | Money Market | CD | IRA

Verity Credit Union Checking Account Rates

ApyMinMaxProduct
1.05%-$10kCartwheel Checking
0.45%$50k-Business Checking
0.10%--Verity Checking
0.10%--Value Checking

Verity Credit Union Savings Account Rates

ApyMinMaxProduct
0.30%$20k-Variable IRA Share Account
0.15%--Prime Shares
0.15%--Rocket Account Prime Shares
0.15%--Business Savings

Verity Credit Union Money Market Rates

ApyMinMaxProduct
0.35%$100k-Premium Money Market
0.35%$100k-Business Premium Money Market
0.25%$50k-Money Market
0.25%$50k-Business Money Market

Verity Credit Union CD Rates

ApyMinMaxProduct
1.50%$75k-60 Month Share Certificates
0.85%$75k-36 Month Share Certificates
0.75%$75k-24 Month Share Certificates
0.50%$75k-12 Month Share Certificates
0.40%$75k-6 Months Share Certificates
0.40%$100-12 Month Savers Certificate
0.30%$75k-90 Days Share Certificates
0.30%$100-6 Months Savers Certificate
0.30%$75k-Business 30 Day CD

Verity Credit Union IRA Rates

ApyMinMaxProduct
1.50%$75k-60 Month IRA Certificate
1.50%$75k-60 Month Roth IRA Certificate
0.85%$75k-36 Month IRA Certificate
0.85%$75k-36 Month Roth IRA Certificate
0.75%$75k-24 Month IRA Certificate
0.75%$75k-24 Month Roth IRA Certificate
0.63%$75k-18 Month IRA Certificate
0.63%$75k-18 Month Roth IRA Certificate
0.50%$75k-12 Month IRA Certificate
0.50%$75k-12 Month Education IRA
0.50%$75k-12 Month Roth IRA Certificate

Rates updated: 2/11/2012

Data for Q3 2011


Institution Statistics


VERITY
NCUA #68517
BankRate ReportView
Year Established1933
Employees100
Primary Regulator

Assets and Liabilities

Assets$378.74 million
Loans$287.16 million
Deposits$334.03 million
Equity Capital$28.33 million
Loan Loss Allowance$7.33 million
Unbacked Noncurrent Loans$11.23 million
Real Estate Owned$2.35 million

Historic Data - September 2010

Assets$366.71 million
Equity Capital$29.41 million
Loan Loss Allowance$5.86 million
Unbacked Noncurrent Loans$11.75 million
Real Estate Owned$744,000

Profit Margin - Quarterly

Net Interest Margin3.62%
Return on Assets-0.78%
Return on Equity-10.45%
Interest Income$13.47 million
Non-Interest Income$4.16 million

Institution Health


Overall Score:
3 out of 5
3
Texas Ratio2
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 September 30, 2011 Verity Credit Union had $13.58 million in non-current loans and owned real-estate with $35.66 million in equity and loan loss allowances on hand to cover it. This gives Verity Credit Union a Texas Ratio of 38.10% which is below average. Any bank with a Texas Ratio near or greater than 100% is considered at risk.
Texas Ratio Trend3
The Texas Ratio for Verity Credit Union held steady from 35.43% as of September 30, 2010 to 38.10% as of September 30, 2011, resulting in a negative change of 7.54%. This indicates that the balance sheet and financial strength for Verity Credit Union has held steady in recent periods.
Deposit Growth4
In the past year, Verity Credit Union has increased its total deposits by $13.12 million, resulting in 4.09% 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 Verity Credit Union has shown is above average.
Capitalization3
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. Verity Credit Union has $378.74 million in assets with $35.66 million in equity, resulting in a capitalization level of 9.41%, which is average.
Write Review

I Love Verity Credit Union
5 stars - Anonymous - Wednesday, January 13, 2010 - 10:29 AM

I love Verity Credit Union. I could get a slightly higher interest rate opening an account online with some nation-wide bank and never seeing a branch in person, but Verity's customer service is worth the slightly lower interest rate.

The first time I walked into a branch to make a deposit, I spent a long time looking for deposit slips to fill out. I finally went to the teller to ask for one, and he just replied "we don't use those" and proceeded to ask my name and take my deposit. No need to carry a card with my account number, or fill out useless paperwork. It's a great example of thinking out of the traditional brick and motor box to make the customer experience better.

Another similar experience was one time when I walked in to get coin rolls to roll up all my loose change before depositing it. He then pointed out a machine over in the corner where I can dump all of my loose change and it will automatically count it and deposit it into my account, with no fees. Once again I was surprised at the effort they put out to make my banking experience better.

I have never experienced such a nice bank before coming to Verity Credit Union, and it's made me a very loyal customer to them.

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