WECU (Whatcom Educational Credit Union)

Overview / Commentary
21 Bellwether Way Ste 111
Bellingham, WA 98225

WECU (Whatcom Educational Credit Union) is headquartered in Bellingham and is the 7th largest credit union in the state of Washington. It is also the 165th largest credit union in the nation. It was established in 1936 and as of June of 2021, it had grown to 390 employees and 133,634 members at 13 locations. WECU (Whatcom Educational Credit Union) has an A+ health rating.

Field of Membership Restrictions

Membership in Whatcom Educational Credit Union is open to anyone who lives, works, attends school, or worships in the state of Washington and to the family of current members.
See current membership details

Reviews (3)

Best Bank Ever

I've been using WECU for quite a few years now. They are one of the best banking institutions I've ever had experience using them because they don't feel like a bank. The people use my name when I go up to the counter and they are friendly and warm. They also offer loan advice and financial advice to get your credit score improved or to get the best loan rate. They have really low fees if you ever overdraw your account. I like that you can only use them if you're in the county I live in because it gives it that "small-town" feel and they are really connected to the community and you can feel that whenever you walk in. They have quite a few locations to use, and quite a lot of no-fee ATMs to use, which is really convenient. They also made a mobile app a couple of years ago, which is really easy to use and updates quickly. They offer a mobile deposit through their app and I use that every month. It's very convenient and they are all so friendly and I've never been happier with a bank.

Credit Unions Are Great!

I haven't had much experience with credit unions before WECU, but I wish I had. The overall experience is that they're not trying to milk me for money, which is something I've felt when faced with overdraft fees or other monthly fees from other banks.

My wife and I have a joint checking account with WECU and we use it all the time. It has all the modern conveniences you'd expect from a checking account from a bank but without the fees. There are a lot of locations in our area, so if we need to take out cash for the taco truck its on the way ( and we go a lot ). I have direct deposit, and automatic bill pay. So what I'm getting is a easy, modern checking account without monthly fees. What else could I ask for?

Oh, and their overdraft fees are only 16 dollars. That's HALF of other popular banks. I mean it really boils down to this: I'm putting away my money and I don't someone leeching fees from me. That shows me that they really dont care about your inconvenience or about your money.

So yeah, if you can have a WECU account or some other credit union in your area, sign up.

Great Local Credit Union

I originally switched from a big national bank chain (Bank of America) to this smaller local credit union/bank because they don't charge a monthly fee, which I was getting slapped with when banking with BOFA. I have banked with my current credit union for 5 years now and am very happy with them. They have no-fee atms, which is great if I need to get money out of another account. If I overdraw on my checking account, then they automatically take any extra out of my savings account, instead of just slapping me with an overdraft fee. Even if I do get an overdraft fee, it is one of the smallest fees I've ever had to pay, just $14. They are also very understanding and eager to work with you. One time I didn't know that I had overdrawn on my checking account and I didn't have any backup money in savings. I made several purchases and was charged the $14 fee multiple times. After seeing my statement, I called them and explained the situation. They went ahead and cleared all of my overdraft fees and just charged me the one time. Overall I am really satisfied with this credit union and don't see myself switching anytime soon.


Health Grade Components

NCUA #66373
Year Chartered1936
Primary Regulator
Profit Margin
Return on Assets - YTD0.84%
Return on Equity - YTD6.9%
Annual Interest Income$29.5MM
Assets and Liabilities
AssetsQ2 2021vs Q2 2020$2.35B$1.97B
LoansQ2 2021vs Q2 2020$1.59B$1.49B
DepositsQ2 2021vs Q2 2020$2.02B$1.66B
Equity CapitalQ2 2021vs Q2 2020$283.7MM$266.5MM
Loan Loss AllowanceQ2 2021vs Q2 2020$12.8MM$11.0MM
Unbacked Noncurrent LoansQ2 2021vs Q2 2020$2.3MM$2.9MM
Real Estate OwnedQ2 2021vs Q2 2020$0$15.00K
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* The APY shown varies based on the deposit amount. Expand the listing to see APYs for other deposit amounts.

WECU (Whatcom Educational Credit Union) Savings Account Rates

2.50%*-$500First Step Savings
OTHER TIERS: 0.05% $500+
0.15%*$50k*-Business Savings
OTHER TIERS: 0.10% Up to $50k
0.05%--Primary Savings
0.05%--Education Savings
0.05%--Health Savings Account
0.05%--IRA Savings

WECU (Whatcom Educational Credit Union) Money Market Rates

0.50%*$250k*-Business Money Market
OTHER TIERS: 0.15% $2.5k - $50k | 0.35% $50k - $250k
0.15%*$100k*-Money Market Checking
OTHER TIERS: 0.05% Up to $100k

WECU (Whatcom Educational Credit Union) Checking Account Rates

2.50%-$250First Step Checking
1.00%*-$1kSimple Business Checking
OTHER TIERS: 0.05% $1k+
1.00%*-$5kSavvy Business Checking
OTHER TIERS: 0.05% $5k+
0.05%$1k-Check Plus Account

WECU (Whatcom Educational Credit Union) CD Rates

0.30%$500-24 Month CD
0.30%$500-30 Month CD
0.30%$500-36 Month CD
0.30%$500-48 Month CD
0.30%$500$250k60 Month CD
0.25%$500-12 Month CD
0.25%$500-18 Month CD
0.20%$500-6 Month CD
0.20%$500-9 Month CD

WECU (Whatcom Educational Credit Union) IRA Rates

0.30%$500-24 Month IRA
0.30%$500-30 Month IRA
0.30%$500-36 Month IRA
0.30%$500-48 Month IRA
0.30%$500-60 Month IRA
0.25%$500-12 Month IRA
0.25%$500-18 Month IRA
0.20%$500-6 Month IRA
0.20%$500-9 Month IRA


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