Washington State Employees Credit Union
| Company type | Nonprofit financial cooperative |
|---|---|
| Industry | Financial services |
| Founded | July 17, 1957 |
| Headquarters | Olympia , United States |
Area served | Washington state |
Key people | Volunteer Board of Directors and Supervisory Committee |
| Products | Savings accounts, checking accounts, consumer lending, mortgages, credit cards, investments, digital banking |
Number of employees | 747 (2024) |
| Website | www |
Washington State Employees Credit Union (WSECU) operates as a nonprofit financial cooperative and ranks as the fourth largest credit union within Washington State. Eligibility for membership extends to those residing, working, or worshiping in Washington, along with their family members.
Managed by a volunteer Board of Directors and Supervisory Committee elected from its membership base, WSECU provides a comprehensive suite of financial services such as savings and checking accounts, consumer lending, mortgages, credit cards, investment options, and digital banking. By 2024, WSECU reported a net income of US$4.4 million and held assets amounting to US$5.1 billion, supporting nearly 294,000 members through a network of 22 branches staffed by 747 employees.
History
Established on July 17, 1957, by a group of 40 employees from Washington state government, WSECU initially catered to members of Local No. 443. The credit union expanded its charter in 1958 to include all state employees and related organizations. In 2013, it shifted to a community-based charter.
Throughout the 1970s and 1980s, WSECU experienced steady growth by opening several branches and merging with Lewis County Employees Credit Union in 1984. The 1990s saw the addition of five more branches. Entering the early 2000s, the credit union surpassed $1 billion in assets while continuing branch expansion. In 2009, WSECU inaugurated a new headquarters in downtown Olympia designed with sustainability in mind, earning LEED Gold certification.
In 2023, WSECU expanded further by merging with State Highway Credit Union, incorporating a new branch located in Union Gap, Washington.
Locations
Based in Thurston County, WSECU serves members throughout the state with branch offices situated in Bellevue, Chehalis, Everett, Lacey, Lakewood, Olympia, Seattle, and Tumwater across western Washington; as well as in Ellensburg, Medical Lake, Pullman, Spokane, Spokane Valley, and Yakima in eastern parts of the state.
Community support programs
WSECU demonstrates commitment to local communities through sponsorships, financial donations, and staff volunteer efforts. In 2017, it collaborated with Olympia’s Hands On Children's Museum to initiate the Learning for All Initiative, which broadened program offerings and provided complimentary access to underserved families within Thurston County. The credit union designates 4% of its yearly net earnings to support nonprofits that align with its focus areas: Education, Self-sufficiency, and Public Employees and Assets.
Scholarships
WSECU awards scholarships annually to members advancing their postsecondary education. Each year, it grants 29 scholarships divided between two categories: community colleges offering two-year programs and four-year colleges or universities.
See also
- Pennsylvania State Employees Credit Union
- State Employees Credit Union of Maryland
- State Employees Credit Union of New Mexico
- State Employees Credit Union (North Carolina)
- S.C. State Credit Union