Program areas at WECU
Lending:total outstanding loans increased by 15.00%, amounting to $320.96 million year-over-year (yoy). Despite a challenging environment, Wecu provided a total of $691 million in loans to members within the communities we serve.
Community involvement:while technically not a chartered service, Wecu is committed to community service and provides support to a large number of local Educational, health and community concerns. In 2024, helping members and the community at large continues to be a primary focus. This was demonstrated through several activities throughout the year throughout the counties served.
Deposits & liquidity: deposits grew by 6.33%, amounting to $140.86 million year-over-year (yoy). Borrowings increased by 19.77%, totaling $34.0 million yoy. These increases enabled Wecu to sustain liquidity reserves throughout 2024. The increase in deposits suggests that the current pricing strategy is successfully retaining and attracting new deposit relationships. Additionally, Wecu contributed to the economy by distributing $42 million in dividends. Membership growth also saw a yoy increase of 5.11%.
Financials for WECU
| Revenues | FYE 12/2024 | FYE 12/2023 | % Change |
|---|
| Total grants, contributions, etc. | $0 | $0 | - |
| Program services | $135,508,581 | $112,494,139 | 20.5% |
| Investment income and dividends | $25,596,036 | $25,372,141 | 0.9% |
| Tax-exempt bond proceeds | $0 | $0 | - |
| Royalty revenue | $0 | $0 | - |
| Net rental income | $-221,316 | $-672,262 | 67.1% |
| Net gain from sale of non-inventory assets | $2,603,317 | $-2,492 | - |
| Net income from fundraising events | $0 | $0 | - |
| Net income from gaming activities | $0 | $0 | - |
| Net income from sales of inventory | $0 | $0 | - |
| Miscellaneous revenues | $3,008,120 | $900,683 | 234% |
| Total revenues | $166,494,738 | $138,092,209 | 20.6% |
Organizations like WECU
| Organization | Type | Location | Revenue |
|---|
| Horizon Credit Union (HZCU) | 501(c)(14) | Spokane Valley, WA | $110,218,528 |
| Salal Credit Union | 501(c)(14) | Seattle, WA | $74,965,948 |
| Washington State Employees Credit Union (WSECU) | 501(c)(14) | Olympia, WA | $317,874,177 |
| Verity Credit Union | 501(c)(14) | Seattle, WA | $45,304,618 |
| Kitsap Credit Union (KCU) | 501(c)(14) | Bremerton, WA | $135,974,513 |
| TwinStar Credit Union | 501(c)(14) | Olympia, WA | $237,650,989 |
| Columbia Community Credit Union | 501(c)(14) | Vancouver, WA | $117,918,562 |
| Numerica Credit Union | 501(c)(14) | Spokane Valley, WA | $225,568,834 |
| iQ Credit Union (IQCU) | 501(c)(14) | Vancouver, WA | $114,383,646 |
| Harborstone Credit Union | 501(c)(14) | Tacoma, WA | $93,110,698 |
Data update history
July 12, 2025
Posted financials
Added Form 990 for fiscal year 2024
July 2, 2025
Used new vendors
Identified 1 new vendor, including
May 13, 2025
Used new vendors
Identified 1 new vendor, including
May 13, 2025
Updated personnel
Identified 3 new personnel
August 9, 2024
Posted financials
Added Form 990 for fiscal year 2023
Nonprofit Types
Grantmaking organizationsCredit unionsChapter / child organizations
Issues
No issues found
Characteristics
Memberships
General information
- Address
- 21 Bellwether Way 111
- Bellingham, WA 98225
- Metro area
- Bellingham, WA
- County
- Whatcom County, WA
- Website URL
- wecu.com/Â
- Phone
- (360) 676-1168
IRS details
- EIN
- 91-0712539
- Fiscal year end
- December
- Taxreturn type
- Form 990
- Year formed
- 1936
- Eligible to receive tax-deductible contributions (Pub 78)
- No
Categorization
- NTEE code, primary
- W60: Financial Institutions, Credit Unions
- NAICS code, primary
- 522130: Credit Unions
- Parent/child status
- Child within group exemption
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