Credit Unions In The State Of Washington

Organization 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 12/2021, Credit Unions In The State Of Washington employed 525 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 12/2021, Credit Unions In The State Of Washington generated $105.6m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 8.2% each year. All expenses for the organization totaled $81.0m during the year ending 12/2021. While expenses have increased by 8.9% 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, Credit Unions In The State Of Washington has awarded 62 individual grants totaling $1,169,368. 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

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 271,834 SAVINGS, CHECKING, AND MONEY MARKET DEPOSIT ACCOUNTS WITH COMBINED BALANCES OF $2,074,025,105. MEMBERS HOLD 2,111 IRA SAVINGS ACCOUNTS WITH COMBINED BALANCES OF $22,005,099. 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, 7,313 OF OUR MEMBERS HOLD CERTIFICATE ACCOUNTS WITH TOTAL BALANCES OF $223,972,430.


ON THE ASSET SIDE, 78,377 OF OUR MEMBERS HOLD CONSUMER LOANS THAT INCLUDE VEHICLE, STUDENT, MORTGAGE, AND VISA LOANS. CONSUMER LOANS THAT INCLUDE VEHICLE SECURED LOANS TOTAL $580,298,377. REAL ESTATE SECURED LOANS TOTAL $909,307,871. THE LOAN PORTFOLIO TOTAL $1,652,653,479.


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Outside Vendors & Contractors

Vendor Name (Service)Compensation
Momentum Inc
Architectural/contracting Services
$2,378,854
Je Cumming Corp
Architectural/contracting Services
$2,004,059
Ncr Corporation
Digital Banking Services
$1,632,504
Media Plus
Media/communications
$1,239,924
Softchoice
Technology
$880,325
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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$102,027,323
Investment income $2,869,707
Tax Exempt Bond Proceeds $0
Royalties $0
Net Rental Income -$90,965
Net Gain/Loss on Asset Sales $805,510
Net Income from Fundraising Events $0
Net Income from Gaming Activities $0
Net Income from Sales of Inventory $0
Miscellaneous Revenue$0
Total Revenue $105,611,575

Grants Awarded

Over the last fiscal year, Credit Unions In The State Of Washington has awarded $182,500 in support to 12 organizations.

Grant RecipientAmount

Seattle, WA

PURPOSE: GENERAL SUPPORT

$35,000

MILGARD SCHOOL OF BUSINESS (UNIVERSITY OF WA FOUNDATION)

Org PageRecipient Profile

Seattle, WA

PURPOSE: GENERAL SUPPORT

$26,500

NORTHWEST CREDIT UNION ASSOCIATION

Org PageRecipient Profile

Seatac, WA

PURPOSE: CU4KIDS

$25,000

UNITED WAY OF PIERCE COUNTY

Org PageRecipient Profile

Tacoma, WA

PURPOSE: GENERAL SUPPORT

$20,850

BUSINESS IMPACT NW

Org PageRecipient Profile

Seattle, WA

PURPOSE: SPONSORSHIP

$20,000

SOUTH SOUND TOGETHER CO GREATER TACOMA COMMUNITY FOUNDATION

Org PageRecipient Profile

Tacoma, WA

PURPOSE: SPONSORSHIP

$12,000
View Grant Profile

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

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