The Credit Union Difference

Credit unions are here for the benefit of our members. We return our profits to them in the form of more competitive rates and fees, low- or no-cost services, and upgraded technology and branching options. In turn, our members are able to purchase first cars, dream homes, even start businesses, faster and more affordably than they may have with a traditional bank.

Members aren’t the only ones who benefit from credit union membership, though. Washington credit unions continually create a positive impact on our state’s economy.

   
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Direct Member Benefits of $369 Million

Washington credit union members receive, on average, $103 per member in direct member benefits. That’s a total of $369 million for the 3.58 million credit union members in Washington.

   
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Over 11,000 Jobs

Credit unions in Washington provide 11,215 family wage jobs and $819 million in total compensation. Plus, every credit union job supports two additional jobs in the Northwest economy.

   
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Increased Access to Affordable Loans

As of September 2016, state credit unions had 2.5 million loans outstanding totaling $38.1 billion. This included $11.3 billion in vehicle loans, $15.1 billion in real estate loans, and $3.5 billion in business loans. In addition, 61.5% of total mortgage applications from low to moderate income borrowers are approved by Washington credit unions.

   
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$5.5 Billion in Economic Impact

Credit unions generated $5.5 billion in total gross economic activity, which includes supply chain spending, wages, and direct member benefit. 

For more information regarding how credit unions help support Washington’s economy, read the 2016 Washington Credit Union Impact report.

Source: CUNA & Informa Research Center, ECONorthwest, NCUA for 12 months ending September 2016
 

Get Involved

Credit unions were started on the philosophy of people helping people, a practice we work to protect every day. Occasionally legislation is introduced that threatens our ability to serve our members. If you would like to get involved and help protect the credit union movement, see the resources below.

Campaign for Common Sense Regulation
Northwest Credit Union Association
Credit Union National Association

Routing #: 325183220

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