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206-440-9000
11027 Meridian Ave N
Seattle, WA 98133

Verity Credit Union is headquartered in Seattle and is the 20th largest credit union in the state of Washington. It is also the 506th largest credit union in the nation. It was established in 1933 and as of March of 2014, it had grown to 124 employees and 27,010 members. Verity Credit Union has a A health rating.

Field of Membership Restrictions

Membership is open to: (1) anyone who lives, works, worships or goes to school in any county within Washington state; to (2) family members of an existing member; and to (3) any member or employee of one of Verity Credit Union's Select Employee Groups. Small business owners can also join if your small business is located in Washington State. Corporations can join as long as the stock in your company is not publicly traded and over 50% of the owners are eligible for personal membership. - See Details

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Reviews (1)

I Love Verity Credit Union

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.



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 Verity Credit Union had $2.13 million in non-current loans and owned real-estate with $41.6 million in equity and loan loss allowances on hand to cover it. This gives Verity Credit Union a Texas Ratio of 5.12% 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 Verity Credit Union decreased dramatically from 11.28% as of March 31, 2013 to 5.12% as of March 31, 2014, resulting in a positive change of 54.59%.This indicates that the balance sheet and financial strength for Verity Credit Union has improved dramatically in recent periods.

Deposit Growth

GRADE:
A

In the past year, Verity Credit Union has increased its total deposits by $16.56 million, resulting in 4.78% 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 excellent.

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. Verity Credit Union has $438.06 million in assets with $41.6 million in equity, resulting in a capitalization level of 9.50%, which is average.

Institution Statistics

Overall
NCUA #68517
Year Chartered1933
Employees124
Primary Regulator
Assets and Liabilities
Assets$438.06 million
Loans$301.71 million
Deposits$362.93 million
Equity Capital$38.20 million
Loan Loss Allowance$3.39 million
Unbacked Noncurrent Loans$2.13 million
Real Estate Owned$0
Historic Data - March 2013
Assets$404.68 million
Equity Capital$34.94 million
Loan Loss Allowance$6.33 million
Unbacked Noncurrent Loans$2.13 million
Real Estate Owned$1.33 million
Profit Margin - Quarterly
Return on Assets1.17%
Return on Equity13.46%
Interest Income$4.20 million
Rates

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

Verity Credit Union Savings Account Rates

DetailsAPYMINMAXPRODUCT
0.25%$20k-Variable IRA Share Account
0.25%$20k-Variable Roth IRA Share Account
0.25%$20k-Variable Education IRA Share Account
0.10%--Prime Shares
0.10%--Business Savings
0.10%--Youth Savings

Verity Credit Union Money Market Rates

DetailsAPYMINMAXPRODUCT
0.30%$100k-Premium Money Market
0.30%$100k-Business Premium Money Market
0.15%$50k-Money Market
0.15%$50k-Business Money Market

Verity Credit Union Checking Account Rates

DetailsAPYMINMAXPRODUCT
1.05%-$10kCartwheel Checking - Qualifying
0.45%$50k-Business Interest Checking
0.10%--Verity Checking
0.10%--Value Checking
0.10%--Youth Checking
0.05%--Cartwheel Checking - Non Qualifying

Verity Credit Union CD Rates

DetailsAPYMINMAXPRODUCT
1.20%$75k-60 Month Share Certificates
0.80%$75k-36 Month Share Certificates
0.60%$75k-24 Month Share Certificates
0.45%$75k-12 Month Share Certificates
0.35%$75k-6 Months Share Certificates
0.35%$100$1k12 Month Savers Certificate
0.30%$75k-90 Days Share Certificates
0.30%$75k-Business 30 Day CD
0.25%$100$1k6 Months Savers Certificate

Verity Credit Union IRA Rates

DetailsAPYMINMAXPRODUCT
1.20%$75k-60 Month IRA Certificate
0.80%$75k-36 Month IRA Certificate
0.60%$75k-24 Month IRA Certificate
0.53%$75k-18 Month IRA Certificate
0.45%$75k-12 Month IRA Certificate
0.45%$75k-12 Month Education IRA
Locations


Verity Credit Union Locations
Branch Office1660 S Columbian Way Bldg 35Seattle, WA 98108-1532
Branch Office11027 Meridian Ave N Ste 101Seattle, WA 98133
Branch Office1424 Supermall Way # 200Auburn, WA 98001-6527
Branch Office915 2nd Ave Ste 290Seattle, WA 98174-1064
Branch Office4545 Stone Way NSeattle, WA 98103-6647
Branch Office11027 Meridian Ave NSeattle, WA 98133
Branch Office18530 33rd Ave WLynnwood, WA 98037