Credit Unions In The State Of Washington

Credit Unions In The State Of Washington Overview

Credit Unions In The State Of Washington is located in Tacoma, 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 12/2019, Credit Unions In The State Of Washington employed 469 individuals. This organization is a subordinate organization within an affiliated group for tax-exemption purposes. Credit Unions In The State Of Washington 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 12/2019, Credit Unions In The State Of Washington generated $96.6m in total revenue. This represents relatively stable growth, over the past 5 years the organization has increased revenue by an average of 9.7% each year. All expenses for the organization totaled $77.7m during the year ending 12/2019. While expenses have increased by 11.8% per year over the past 5 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, Credit Unions In The State Of Washington has awarded 34 individual grants totaling $694,610. 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

2019

Describe the Organization's Mission:

Part 3 - Line 1

COOPERATIVE PROVIDING FINANCIAL SERVICES, INCLUDING LOANS AND SHARE DEPOSITS TO ITS MEMBERS.

Describe the Organization's Program Activity:

Part 3 - Line 4a

ON THE LIABILITY/EQUITY SIDE OF THE BALANCE SHEET OUR MEMBERS HOLD 235,824 SAVINGS, CHECKING, AND MONEY MARKET DEPOSIT ACCOUNTS WITH COMBINED BALANCES OF $1,299,846,734. MEMBERS HOLD 2,102 IRA SAVINGS ACCOUNTS WITH COMBINED BALANCES OF $21,158,889. THESE FUNDS ARE POOLED AND USED PRIMARILY TO FUND CONSUMER AND REAL ESTATE SECURED LOANS TO OUR MEMBERSHIP.


ALSO ON THE LIABILITY/EQUITY SIDE OF THE BALANCE SHEET, 8,678 OF OUR MEMBERS HOLD CERTIFICATE ACCOUNTS WITH TOTAL BALANCES OF $274,705,116.


ON THE ASSET SIDE, 74,854 OF OUR MEMBERS HOLD CONSUMER LOANS THAT INCLUDE VEHICLE, STUDENT, MORTGAGE, AND VISA LOANS. CONSUMER LOANS THAT INCLUDE VEHICLE SECURED LOANS TOTAL $543,632,825. REAL ESTATE SECURED LOANS TOTAL $716,152,043. THE LOAN PORTFOLIO TOTAL $1,417,697,537.


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Credit Unions In The State Of Washington Board, Officers & Key Employees

Credit Unions In The State Of Washington Vendors

Vendor Name (Service)Compensation
Media Plus
Media/communications
$1,848,257
Augeo
Cardholder Reward Program
$1,213,941
Wongdoody Inc
Advertising Services
$1,081,796
Momentum Inc
Architectural/contracting Services
$1,406,916
Ncr Corporation
Digital Banking Services
$1,489,935
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$89,645,251
Investment income $6,429,321
Tax Exempt Bond Proceeds $0
Royalties $0
Net Rental Income -$57,700
Net Gain/Loss on Asset Sales $617,188
Net Income from Fundraising Events $0
Net Income from Gaming Activities $0
Net Income from Sales of Inventory $0
Miscellaneous Revenue$0
Total Revenue $96,634,060

Credit Unions In The State Of Washington Grants Awarded

Over the last fiscal year, Credit Unions In The State Of Washington has awarded $202,280 in support to 7 organizations.

Grant RecipientAmount

CREDIT UNION NATIONAL ASSOCIATION INC

Org PageRecipient Profile

Washington, DC

PURPOSE: CREDIT UNION AWARENESS INITIATIVE

$100,000

NEWS TRIBUNE SCHOLARSHIP FOUNDATION

Org PageRecipient Profile

Tacoma, WA

PURPOSE: SOUTH SOUND TOGETHER

$27,083

NORTHWEST CREDIT UNION ASSOCIATION

Org PageRecipient Profile

Seatac, WA

PURPOSE: ANNUAL DONATION - CU 4 KIDS AUCTION

$21,510

NATIONAL CREDIT UNION FOUNDATION

Org PageRecipient Profile

Madison, WI

PURPOSE: ANNUAL DONATION & FAIRSHARE CONTRIBUTION

$20,187

UNIVERSITY OF WASHINGTON FOUNDATION

Org PageRecipient Profile

Seattle, WA

PURPOSE: BUSINESS LEADERSHIP AWARDS/PROGRAM

$14,500

YMCA OF PIERCE AND KITSAP COUNTIES

Org PageRecipient Profile

Tacoma, WA

PURPOSE: ANNUAL DONATION

$10,000
View Grant Profile

Credit Unions In The State Of Washington Grants Recieved

Over the last fiscal year, we have identified 1 grants that Credit Unions In The State Of Washington has recieved totaling $88,000.

Awarding OrganizationAmount
Northwest Credit Union Foundation

Seatac, WA

PURPOSE: HOUSING

$88,000
View Grant Recipient Profile

Credit Unions In The State Of Washington Peer Organizations

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