Credit Unions In The State Of Washington

Organization Overview

Credit Unions In The State Of Washington, operating under the name Twinstar Credit Union, is located in Olympia, WA. The organization was established in 1954. According to its NTEE Classification (W61) the organization is classified as: Credit Unions, under the broad grouping of Public & Societal Benefit and related organizations. As of 12/2021, Twinstar Credit Union employed 515 individuals. This organization is a subordinate organization within an affiliated group for tax-exemption purposes. Twinstar Credit Union is a 501(c)(14) and as such, is described as a "State Chartered Credit Union, Mutual Reserve Fund" by the IRS.

For the year ending 12/2021, Twinstar Credit Union generated $102.2m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 5.7% each year. All expenses for the organization totaled $83.4m during the year ending 12/2021. While expenses have increased by 4.5% per year over the past 7 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.

Since 2014, Twinstar Credit Union has awarded 60 individual grants totaling $1,345,089. If you would like to learn more about the grant giving history of this organization, scroll down to the grant profile section of this page.

Mission & Program ActivityExcerpts From the 990 Filing

TAX YEAR

2021

Describe the Organization's Mission:

Part 3 - Line 1

TWINSTAR'S MISSION IS TO INVEST IN PEOPLE AND EMPOWER SUCCESS.

Describe the Organization's Program Activity:

Part 3 - Line 4a

SHARE ACCOUNTS: TWINSTAR SAVINGS ACCOUNTS OFFER ADVANTAGES TO MEMBERS OF ALL AGES. TWINSTAR HAD 138,458 MEMBERS ON DECEMBER 31, 2021. MEMBER SAVINGS ACCOUNTS PAY DIVIDENDS MONTHLY AND OFFER ACCESS THROUGH THE BRANCH NETWORK, HOME BANKING VIA THE INTERNET OR TELEPHONE, MOBILE BANKING AND VIA ATMS WORLDWIDE. SPECIAL SAVINGS ACCOUNTS ARE DESIGNED FOR CHILDREN AND TEENAGERS TO ENCOURAGE THE DEVELOPMENT OF CONSISTENT SAVINGS HABITS.


CHECKING ACCOUNTS: TWINSTAR PROVIDES CHECKING ACCOUNTS FOR CONSUMERS WITH VARIOUS FEATURES, FROM FREE ACCOUNTS TO THOSE WITH ENHANCED BENEFITS. MOST OFFER DIVIDENDS THAT ARE PAID MONTHLY. ADDITIONALLY, TWINSTAR EXTENDS THE REACH OF THESE ACCOUNTS TO ALL MEMBERS WITH FREE DEBIT CARDS, INTERNET ACCOUNT ACCESS, MOBILE BANKING AND FREE USE OF THE INTERNET BILL PAYER PLATFORM.


CONSUMER LOANS: TWINSTAR CREDIT UNION HAS PROVIDED VEHICLE LOANS SINCE ITS EARLY YEARS. THE CONSUMER LOAN PRODUCT LINE NOW INCLUDES EFFICIENT UNDERWRITING AND FLEXIBLE OFFERINGS FOR RECREATIONAL VEHICLES, BOATS AND MOTORCYLCES. TWINSTAR ALSO OFFERS VISA CREDIT CARDS TO MEMBERS. THIS PRODUCT LINE SATISFIES MEMBERS DIVERSE BORROWING NEEDS, FROM A SHARE SECURED CARD TO A CREDIT LINE FOR YOUNG BORROWERS TO A CARD WITH LARGER CREDIT LINES AND LOW INTEREST RATES. TWINSTAR ALSO OFFERS HOME EQUITY/REAL ESTATE LOANS, BUSINESS LOANS AND STUDENT LOAN REFINANCE.


THE CREDIT UNION OFFERS AND ACTIVELY SELLS TO OUR MEMBERS DIFFERENT KINDS OF INSURANCE, HOMEOWNERS, CONDO, RENTERS TRAVEL TRAILERS, RV'S, AUTO, MOTORCYCLE, WATERCRAFT, MOBILE/MANUFACTURED HOMES, ATV'S, UMBRELLA, PERSONAL EXCESS POLICIES, EARTHQUAKE, FLOOD, AND COMMERCIAL AUTO.


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Outside Vendors & Contractors

Vendor Name (Service)Compensation
Diebold
Equipment Repairs/maintenance
$510,387
Rapid Technologies Inc
It Licenses/saas Service
$699,406
Narmi Inc
Online Banking & Software Support
$1,086,239
Jack Henry & Associates Inc
Software Maintenance/consulting
$795,053
Q2 Software Inc
Online Banking & Software Support
$2,059,522
View All Vendors

Financial Statements

Statement of Revenue
Federated campaigns$0
Membership dues$0
Fundraising events$0
Related organizations$0
Government grants $0
All other contributions, gifts, grants, and similar amounts not included above$0
Noncash contributions included in lines 1a–1f $0
Total Revenue from Contributions, Gifts, Grants & Similar$0
Total Program Service Revenue$96,805,218
Investment income $3,607,852
Tax Exempt Bond Proceeds $0
Royalties $0
Net Rental Income $7,345
Net Gain/Loss on Asset Sales $51,694
Net Income from Fundraising Events $0
Net Income from Gaming Activities $0
Net Income from Sales of Inventory $0
Miscellaneous Revenue$0
Total Revenue $102,241,429

Grants Awarded

Over the last fiscal year, Credit Unions In The State Of Washington has awarded $267,900 in support to 11 organizations.

Grant RecipientAmount

TWINSTAR COMMUNITY FOUNDATION

Org PageRecipient Profile

Olympia, WA

PURPOSE: COLLEGE/HIGHER ED SCHOLARSHIPS/CLASSROOM ASSISTANCE

$103,000

Olympia, WA

PURPOSE: FOOD PANTRY, ART GALLERY GENERAL FUND, EVENT SPONSORSHIPS, SCHOLARSHIPS

$38,500

SAINT MARTIN'S UNIVERSITY

Org PageRecipient Profile

Lacey, WA

PURPOSE: ATHLETICS DEPARTMENT

$35,500

WASHINGTON CTR FOR THE PERFORMING ARTS

Org PageRecipient Profile

Olympia, WA

PURPOSE: CAPITAL CAMPAIGN

$25,000

COLUMBIA RIVER ECONOMIC DEVELOPMENT COUNCIL

Org PageRecipient Profile

Vancouver, WA

PURPOSE: FUTURE LEADERS PROJECT

$10,400

CHILDREN'S MIRACLE NETWORK

Org PageRecipient Profile

Salt Lake City, UT

PURPOSE: UNRESTRICTED

$10,000
View Grant Profile

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