Washington State Employees Credit Union is headquartered in OLYMPIA and is the 2nd largest credit union in the state of Washington. It is also the 84th largest credit union in the nation. It was established in 1957 and as of December of 2013, it had grown to 479 employees and 199,756 members. Washington State Employees Credit Union has a A+ health rating.
Must be a staff or faculty of any public colleges or universities. Also open to students of University of Washington, Washington State University or Evergreen State College. - See Details
We've banked with WSECU for 25-years, and they are the best bank we've dealt with. They are very professional and courteous and willing to do what they can to meet your needs. They are over and above other banks we've had accounts with, such as Bank of America, and Citibank. It's a world of difference. We would definitely recommend them if you're looking for a bank with real care and concern and they don't treat you like you're some customer that's one out of a million others that they could care less about.
We've been customers for 25 years, and they are the best we've ever banked with. They just treat you well and remain professional and courteous whenever we have any needs. I would recommend them and it is a much better experience than other banks we've had dealings with such as Bank of America, Citi Bank, etc. A world of difference!
While the interest you earn on savings and checking accounts is typically low, the service is always fantastic and the fees are far below average for banks (the fees are probably average for Credit Unions, which is to say "very low").
WSECU doesn't have too many ATMs, but they are part of the Credit Union Co-Op, which gives you free usage of the ATMs at all 7-Eleven stores (so, probably 6,000 locations around the country) and shared branch banking with other credit unions: especially convenient for travelers, this gives you more flexibility than the largest private systems (BofA or Citibank, for example).
The international exchange rate is fantastic (1%) if you can find a partner bank system (5B in Central America, for example), though they don't advertise this benefit to members! And the rewards program, if you partake, offers a great value on exchange of points for prepaid credit cards.
Great customer service at the University district location in Seattle, though I miss the drive through, and at the Lake Union branch which responds quickly to lines by bringing more tellers up to the front.
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 Washington State Employees Credit Union had $8.5 million in non-current loans and owned real-estate with $218.55 million in equity and loan loss allowances on hand to cover it. This gives Washington State Employees Credit Union a Texas Ratio of 3.89% which is excellent. Any bank with a Texas Ratio near or greater than 100% is considered at risk.
The Texas Ratio for Washington State Employees Credit Union experienced no significant changes from 3.56% as of December 31, 2012 to 3.89% as of December 31, 2013, resulting in a negative change of 9.27%. This indicates that the balance sheet and financial strength for Washington State Employees Credit Union has had no significant changes in recent periods.
In the past year, Washington State Employees Credit Union has increased its total deposits by $97.23 million, resulting in 6.12% 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 Washington State Employees Credit Union has shown is excellent.
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. Washington State Employees Credit Union has $1.92 billion in assets with $218.55 million in equity, resulting in a capitalization level of 11.37%, which is excellent.
|Assets and Liabilities|
|Equity Capital||$203.01 million|
|Loan Loss Allowance||$15.54 million|
|Unbacked Noncurrent Loans||$7.54 million|
|Real Estate Owned||$965,000|
|Historic Data - December 2012|
|Equity Capital||$190.31 million|
|Loan Loss Allowance||$18.96 million|
|Unbacked Noncurrent Loans||$7.54 million|
|Real Estate Owned||$1.10 million|
|Profit Margin - Quarterly|
|Net Interest Margin||4.95%|
|Return on Assets||1.03%|
|Return on Equity||9.76%|
|Interest Income||$69.71 million|
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|0.11%||-||-||Roth IRA Savings|
|0.11%||-||-||Prime Time Savings|
|0.31%||$100k||-||Performance Money Marker Account|
|0.11%||-||-||Money Mover II Checking|
|2.33%||$1k||-||84 Month CD|
|1.72%||$1k||-||60 Month CD|
|1.06%||$1k||-||48 Month CD|
|0.71%||$1k||-||36 Month CD|
|0.51%||$1k||-||24 Month CD|
|0.31%||$1k||-||12 Month CD|
|0.26%||$1k||-||6 Month CD|
|2.43%||$1k||-||84 Month IRA (Traditional,Roth,CESA)|
|1.82%||$1k||-||60 Month IRA (Traditional,Roth,CESA)|
|1.16%||$1k||-||48 Month IRA (Traditional,CESA)|
|1.16%||$1k||-||48 Month Roth IRA|
|0.81%||$1k||-||36 Month IRA (Traditional,Roth,CESA)|
|0.56%||$1k||-||24 Month IRA (Traditional,Roth,CESA)|
|0.35%||$1k||-||12 Month IRA (Traditional,Roth,CESA)|
|0.26%||$1k||-||6 Month IRA (Traditional,Roth,CESA)|