Red Canoe Credit Union is headquartered in Longview and is the 17th largest credit union in the state of Washington. It is also the 372nd largest credit union in the nation. It was established in 1937 and as of September of 2022, it had grown to 230 employees and 59,514 members at 12 locations. Red Canoe Credit Union's CD rates are 4X the national average, and it has an A health rating.
Field of Membership Restrictions
Membership in Red Canoe Credit Union is open to those who live, work, worship, or attend school anywhere in Washington State, or in the Oregon counties of Benton, Lane, Linn, Marion or Polk. Family members of those eligible to join also qualify for membership.
See current membership details
Related Posts
14 Year Member
Been a member for 14 years have only good to say about them. I have in 14 years paid no fees, they have every service a bank has but it is free of significantly less expensive Credit card at 8%. Every year I get a portion of my Debit card use back as a deposit into my account. I actually make money off of having an account with them. That is because I am an owner of the CU as are all depositors no one can take them over and we get that as a dividend. Fantastic people. Recently we had to open an estate account for a deceased aunt and it was handled fast and very smoothly and very professionally.
Red Canoe
I recently had a need to fire my bank and was looking into Red Canoe and another to replace them with. I ended up opening accounts with both as it was hard to choose between them. I fired the major bank as they had bought out my favorite bank and changed my free checking to their version which included a $15.00 per month fee.
It was important to me that my new bank didn't include "monthly" fees on my account. I am OK with the overdraft fees. Red Canoe had the perfect account and had several others.
She was very helpful and friendly and went over everything, including the accounts she knew I would not like. I have to keep a savings account open with them but it doesn't require activity. She was quick in setting it up. The checking account was just as quick and easy. I was impressed when she photo copied my drivers license, she took a black marker and marked over the license number. I brought in a phone statement for proof of residence and she only copied the front of the envelope with my address on it. Privacy is a big thing for them.
Everything she did was like that. Longview is not a big city but it isn't a small town either. I was treated like I was a member of a very small town where everyone knows and likes everyone else. I left feeling great. Nobody leaves a bank feeling great.
I have nothing bad to say about Red Canoe.
AVOID This Bank
Honestly the worst banking experience I have EVER had in my life. I sent my car loan payment via bill pay (with documentation showing that the money was withdrawn from my account -before my due date), and due to either a system error on my primary bank's end, or a postal service delay, the payment arrived to Red Canoe late. They immediately reported this to all three credit bureaus (which is how I found out about the "late" payment in the first place), and my score dropped 117 points - I have never missed a car payment in my life. I am in the middle of buying a house. I called the bank multiple times to explain what happened, and there is "nothing they can do" and obviously could not care less. I absolutely cannot refinance this loan with another lender fast enough. Please, please, please AVOID THIS BANK. I will for sure be telling everyone I know (including the finance manager at the dealership who works with this place) to avoid at all costs.
Data as of Q3 2022
Learn why bank health mattersHealth Grade Components
| Overall | |
|---|---|
| NCUA # | 68196 |
| Year Chartered | 1937 |
| Employees | 230 |
| Primary Regulator | |
| Profit Margin | |
|---|---|
| Return on Assets - YTD | 0.35% |
| Return on Equity - YTD | 4.16% |
| Annual Interest Income | $25.6MM |
| Assets and Liabilities | ||
|---|---|---|
| Assets | Q3 2022vs Q3 2021 | $1.20B$1.16B |
| Loans | Q3 2022vs Q3 2021 | $705.6MM$644.4MM |
| Deposits | Q3 2022vs Q3 2021 | $1.08B$1.03B |
| Equity Capital | Q3 2022vs Q3 2021 | $101.7MM$115.2MM |
| Loan Loss Allowance | Q3 2022vs Q3 2021 | $4.4MM$4.0MM |
| Unbacked Noncurrent Loans | Q3 2022vs Q3 2021 | $1.7MM$3.5MM |
| Real Estate Owned | Q3 2022vs Q3 2021 | $0$0 |
