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Overview / Commentary
2414 Sw Andover St Ste E100
Seattle, WA 98106

Waterfront Credit Union is headquartered in Seattle and is the 49th largest credit union in the state of Washington. It is also the 2,197th largest credit union in the nation. It was established in 1964 and as of March of 2014, it had grown to 13 employees and 6,645 members. Waterfront Credit Union has a B health rating.

Field of Membership Restrictions

Must be a member of ILWU Locals - #4, 7, 9, 19, 21, 25, 27, 32, 47, 51, 52 or 98 - Puget Sound Council of ILWU Except For Locals # 23 and 24. Also open to employees of Pacific Maritime Association in Seattle and several other select companies. - See Details

Reviews (1)

Horrible Credit Union

This credit union of 15 employees is horrible. They are small minded, do not see the bigger picture of things of life and do not care. I would highly recommend Prevail, or Boeing credit union, or White River. My experiences with them (and I am a highly credible human service professional) was very demoralizing. They really do not care about knowing the individual at all. Thank you. 


Data for Q1 2014

Institution Health

Additional Factors: Institutions with a small asset base or a short operating history can represent an instability risk beyond what their financial ratios indicate. Waterfront Credit Union has a relatively low asset base.

Texas Ratio


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 Waterfront Credit Union had $69,000 in non-current loans and owned real-estate with $3.87 million in equity and loan loss allowances on hand to cover it. This gives Waterfront Credit Union a Texas Ratio of 1.78% which is excellent. Any bank with a Texas Ratio near or greater than 100% is considered at risk.

Texas Ratio Trend


The Texas Ratio for Waterfront Credit Union experienced no significant changes from 1.25% as of March 31, 2013 to 1.78% as of March 31, 2014, resulting in a negative change of 42.89%. This indicates that the balance sheet and financial strength for Waterfront Credit Union has had no significant changes in recent periods.

Deposit Growth


In the past year, Waterfront Credit Union has decreased its total deposits by -$1.16 million, resulting in -2.25% 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 Waterfront Credit Union has shown is average.



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. Waterfront Credit Union has $55 million in assets with $3.87 million in equity, resulting in a capitalization level of 7.03%, which is below average.

Institution Statistics

NCUA #16178
Year Chartered1964
Primary Regulator
Assets and Liabilities
Assets$55.00 million
Loans$25.94 million
Deposits$50.39 million
Equity Capital$3.65 million
Loan Loss Allowance$218,000
Unbacked Noncurrent Loans$69,000
Real Estate Owned$0
Historic Data - March 2013
Assets$55.94 million
Equity Capital$3.58 million
Loan Loss Allowance$340,000
Unbacked Noncurrent Loans$69,000
Real Estate Owned$0
Profit Margin - Quarterly
Return on Assets0.55%
Return on Equity8.22%
Interest Income$462,000
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Waterfront Credit Union Savings Account Rates

0.07%--Holiday Club Account
0.05%--Regular Share Account
0.05%--IRA Share Account
0.05%--Roth IRA Share Account
0.05%--CESA Share Account
0.01%--Visa Pledge Account

Waterfront Credit Union Checking Account Rates

0.02%$500-Share Draft Account

Waterfront Credit Union CD Rates

0.50%$500-3 Year CD
0.35%$500-2 Year CD
0.15%$500-1 Year CD
0.10%$500-180 Day CD
0.05%$500-30 Day CD
0.05%$500-90 Day CD

Waterfront Credit Union IRA Rates

0.60%$500-5 Year IRA
0.50%$500-3 Year IRA
0.35%$500-2 Year IRA
0.20%$500-1 Year IRA

Waterfront Credit Union Locations
Branch Office815 W Fourth Plain BlvdVancouver, WA 98660-2016
Branch Office2414 SW Andover St Ste E100Seattle, WA 98106-1156