Washington State Employees Credit Union is headquartered in OLYMPIA and is the 4th largest credit union in the state of Washington. It is also the 70th largest credit union in the nation. It was established in 1957 and as of December of 2022, it had grown to 724 employees and 297,253 members at 22 locations. Washington State Employees Credit Union's money market rates are 3X the national average, and it has a B+ health rating.
Field of Membership Restrictions
Membership in Washington State Employees Credit Union is open to anyone who lives, works, or worships in the state of Washington.
See current membership details
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Excellence for state employees
I have been a member for nearly 20 years and cannot imagine changing financial institutions. Wash. State Employees Credit Union continues to offer excellent service and value. Their staff are courteous and always helpful. Fees are low, including their overdraft protection. I have taken out loans with them on numerous occasions and my main mortgage is with WSECU. We have a WSECU rewards visa card and the interest rate is low. I never feel railroaded or pressured to choose a product or service that will not be useful to me. There are other great perks. WSECU offers a free coin sorting machine and offers cashier's checks for free. They have a well staffed customer service line that is manned from 7 a.m. to 7 p.m. Monday through Friday and also open on Saturdays. I have had to call them from overseas while on vacation to troubleshoot (e.g. my credit card was blocked while I was in a foreign country). Their customer service team is always helpful and can resolve issues speedily. I give WSECU my highest endorsement.
Washington State Employees Credit Union
I've been a member of WSECU for about ten years. They have no fee checking, and what seem like pretty standard products and services. I have a savings account (you are required to have one and keep at least 5 dollars in it, which seems weird). I also got my car loan through them, as they offered a very competitive rate. My debit card carries a reward point system, which I use but am not sure how it measures up to other similar programs. They are always perfectly friendly, accessible, and helpful. The real reason I bank with them, though, is that I know my money isn't going to make ridiculous profits for some greedy jerk that doesn't even pay taxes on the money.
My Banking Story
Banking with Washington State Employee Credit Union has been a on average an extremely pleasant experience. From the minute you walk through the door your greeted with a warm smile a refreshment. The customer service is always on point but I particularly like a machine they have that let's you pour your loose change into it and it will total it and deposit it into your account, awesome.
I Definitely Would Not Recommend, Even To My Worsest Enemy
I applied for a personal loan with WSECU. They asked alot of questions. I asked alot of questions. I explained my whole situation with them in detail, told them and showed them my whole credit report before the credit check was even ran.explained that I was also waiting for 3 checks thar were behind,wich is why I needed the loan. Explained I had a q,cash loan already out,but that it was going to be paid off within the next two days. Long story short, I was treated so unfairly, I feel I was discriminated against. (And I don't use that lightly or just because). But wsecu wanted to treat me like a dam child. I was appalled and disappointed that my bank was really treating me like that. They wanted to pay off my q,cash loan,even though it was current. They wanted to bring my account to current and it wasn't even that behind. My account becomes current every two weeks. But they didn't want to give me the loan for what it was actually intended for,wich baffled me. The sad part is, my friend,who also banks with wsecu (whos a Caucasian male) he applied for a higher loan than me. Now, he has a q,cash loan out as well, his account was at the max limit overdrawn as well. I know he gets paid way less than me,but he got the loan that he wanted, "no questions asked" not only that, I referred him to wsecu in the beginning . I give wsecu all zeros across the board. And I'm definitely in search of a way better bank, an equal bank. That's for sure. I encourage,anyone who thinks about banking with wsecu, to please think twice about it and definitely do your research
Data as of Q4 2022
Learn why bank health mattersHealth Grade Components
| Overall | |
|---|---|
| NCUA # | 60042 |
| Year Chartered | 1957 |
| Employees | 724 |
| Primary Regulator | |
| Profit Margin | |
|---|---|
| Return on Assets - YTD | 0.36% |
| Return on Equity - YTD | 5.06% |
| Annual Interest Income | $163.4MM |
| Assets and Liabilities | ||
|---|---|---|
| Assets | Q4 2022vs Q4 2021 | $4.93B$4.64B |
| Loans | Q4 2022vs Q4 2021 | $3.84B$3.07B |
| Deposits | Q4 2022vs Q4 2021 | $4.27B$4.14B |
| Equity Capital | Q4 2022vs Q4 2021 | $343.3MM$424.1MM |
| Loan Loss Allowance | Q4 2022vs Q4 2021 | $22.8MM$15.4MM |
| Unbacked Noncurrent Loans | Q4 2022vs Q4 2021 | $10.1MM$6.5MM |
| Real Estate Owned | Q4 2022vs Q4 2021 | $0$0 |
