What is the financial health of credit unions in Washington State?
The majority of credit unions in Washington are sound and well-capitalized. There are 127 credit unions (both state and federally chartered) headquartered in Washington State with $25.6 billion in assets. The 71 Washington state chartered credit unions have an average capital level of 10.13% of assets as of December 31, 2008 (the most recently published credit union financial statements). Credit unions categorized as “well capitalized” have at least 7% in capital. The majority of Washington’s credit unions have the capital sufficient to fund NCUA’s January 2009 actions and remain well capitalized. .
