2024 Annual & Community Report
March 14, 2025 • 14 minute read
2024 Annual & Community Report
Letter to our members
WSECU is rooted in public service. Our journey began in the mid-1950s when Ed Montermini was a young state employee who couldn’t find a lender for a down payment on a home. The ensuing challenge, along with his desire to help others like himself, led to the birth of our credit union. Our original charter was issued in 1957, and members of the Local 433 union were the first to join. Over time the circle of eligibility expanded. Now anyone who lives, works or worships in Washington state may call WSECU their credit union.
Today we carry forward the tradition of our founders. We value public employees and the work they do for our state and communities. The responsibility of our cooperative is like their work. It lies in doing what’s right for our membership and our neighbors, as we continue our commitments for the good of the collective.
As we look back at 2024, we see our mission unfold in sound, prudent management that keeps us financially strong, even in turbulent times, so we can continue to offer the best financial services to our members. We created a new deposit product — the 6-Month Add-On Certificate — to give members another way to save and earn even more with their money. We helped members save time with more conveniences; we gave back to our communities; and we stayed true to Ed’s first vision — we helped people buy their first homes.
As WSECU leaders, we’re proud of our credit union and of the service we provide. As members, we’re glad you joined us.
Gary Swindler
President & CEO
Veronica Bronkema
2024 Board Chair
Time is precious. So is savings.
Time is precious. So is savings.
When saving money calls for creativity, we get to work. In 2024 we created a new add-on certificate that allows members to continuously add funds throughout the term. When traditional methods are called for, we know best practices. Our insurance plans help members save money and avoid losses. And, as always, we emphasize convenience to save you time and energy.
6-month Add-On Certificate is here to stay
The 6-Month Add-On Certificate, like other WSECU Share Certificates, pays higher yields than traditional savings accounts. Even better, this certificate allows members to add funds throughout the term from Online and Mobile Banking, increasing earnings as members save.
Did you know we offer insurance?
Sure, we have auto and home insurance, but did you know we have other policies such as pet insurance or identity theft protection? The right insurance plan can save members hundreds of dollars every year. Just go to the new Insurance tab on wsecu.org to find your best insurance fit.
We love talking with you
Truly. But we get it: You want banking and transactions to be as swift as possible. Here are a few ways we sped things up:
- Contactless debit and credit cards let you tap, pay and go.
- WSECU Virtual Chat quickly retrieves information from Online and Mobile Banking and our website.
- Call times are shorter so you can get help quickly and move on with your day.
Our equity programs make a difference
Our equity programs make a difference
WSECU excels in providing financial services to all communities including low-income, underrepresented and underserved communities. Our behind-the-scenes work in hiring, loan processing and mortgages is now paying off, especially when it comes to making housing affordable for everyone.
First-time homebuying is easier
WSECU’s commitment to addressing systemic inequities in housing led to several initiatives, including our first-time homebuyer counseling program and the Welcome Home Grant. Although housing remains a challenge due to high prices and high interest rates, we’re seeing further momentum in our programs.
- Counseling impact: Conducted over 1,500 homeownership counseling sessions, directly supporting WSECU’s goal to increase financial wellness and improve access to homeownership for low-to-medium income and BIPOC members.
- Loan referrals: Referred 250 members to home loan officers, aligning with our aspirations to create seamless pathways from financial education to actionable opportunities.
- Homeownership growth: Awarded 18 Welcome Home Grants, with several additional grants pending, advancing WSECU’s vision of increasing homeownership in underserved communities.
WA residents cashed Working Family Tax Credit checks
WSECU launched our first Working Family Tax Credit check-cashing services to nonmember residents of Washington state. From our partnership with the Washington State Department of Revenue, this free service helped 81 unbanked state residents avoid costly check-cashing businesses and access nearly $72,000 in state tax credit funds.
Cougar pride emerged from a wheat field
When last-minute sponsorship was needed for the WSU crop art tradition in Pullman, WSECU jumped in. Crop artist Stan Herd once again created the organic mural commemorating Cougar pride as the season’s football fans drove into town. With WSECU’s ongoing partnership with WSU and the CougarCard Plus, a dual WSECU debit card and university ID, our WSU-affiliated membership grew threefold in the past year.
Video embed
Community giving: $10 million in 10 years
A decade of giving
WSECU contributes 4% of earnings to our communities and neighbors. We fund scholarships, partner with educational institutions, support human services and more. Here are a few highlights from our $10 million in giving over the last 10 years.
Community giving: $10 million in 10 years
A decade of giving
WSECU contributes 4% of earnings to our communities and neighbors. We fund scholarships, partner with educational institutions, support human services and more. Here are a few highlights from our $10 million in giving over the last 10 years.
Hands On Children's Museum
Our partnership with the Hands On Children’s Museum began seven years ago. In 2024 our Inspired Learning for All program provided free or reduced-cost admission to 36,903 visitors from low-income families.
2nd Harvest
Second Harvest distributes 80,000 meals per day and supports 11,000 children with weekend meals. With support from WSECU and nearly 8,000 yearly volunteers, they assist 250 food banks and meal sites across eastern and central Washington.
ROOTS Young Adult Shelter
ROOTS Young Adult Shelter provides safe shelter for young adults who are experiencing homelessness. With 45 overnight beds for young people ages 18-25 and support from WSECU, ROOTS helps young Washingtonians find stability and a place to call home.
Check Out Washington
Check Out Washington continues to grow. With WSECU support, Washington State Parks and the Washington State Library help families explore the outdoors with a Discover Pass and adventure pack that can be checked out from one of 58 participating libraries. More than 7,000 backpacks were checked out last year.
Financial education and funding for students
Our higher education initiatives assist students with financial support and financial wellness, with focus on first-generation students and students of color. Our partners include the Washington Student Achievement Council, Seattle Colleges and Foundation, South Puget Sound Community College, Eastern Washington University, the University of Washington Seattle, Tacoma and Bothell campuses, and UW Foundation.
2024 member testimonials
2024 member testimonials
All the people at my branch are very friendly and helpful. There is a warm atmosphere compared to your average credit union or bank. I used to hate going to the bank and now I love it.RichardWSECU member
2024 member testimonials
As a member for the better part of 40+ years, I can attest to WSECU’s commitment to taking care of their members. From mortgage help with two houses, multiple automobiles, helping my children get started with their first credit cards, WSECU has been there to help when asked.BruceWSECU member
2024 member testimonials
Everyone I interact with at WSECU is always extremely friendly and helpful, and I always feel taken care of. Thank you WSECU for such a quality experience! You definitely set the gold standard.RachelWSECU member
2024 member testimonials
Jody was amazing to work with. I was looking for a small $3,500 loan to help my son buy a used car. She was able to help us get a much larger refi loan to get us out of [a competitor’s credit card’s] ridiculously high interest rate. It is such a relief to see an end in sight and be paying half the interest we were and still be able to help my son buy the car. Positive experience from start to finish.NialWSECU member
2024 member testimonials
The representative was outstanding. He noted the amount I had in savings and showed me what I was earning with other options to consider. All very personable and non-pushy. I went home, looked over the rates and made the change. Thanks to him, my money is now earning 4.75% APY instead of .2%. Very satisfied.RobertWSECU member
2024 member testimonials
When I felt like I had no options toward gaining financial security, one of the employees worked with me and the underwriters to help with consolidation of debts. They really listened and were empathetic to my situation.JaniceWSECU member
We make careers happen
We make careers happen
We pride ourselves on smart hiring and thoughtful planning. We have great employees who believe in the value of member service, and we have a playbook to avoid layoffs during challenging economic cycles. When we tighten the reins on the budget, we also look for beneficial opportunities for upskilling and professional development. The resulting professional stability, along with a mission our employees can believe in, makes us a credit union where employees can learn, grow and stay.
Cross-training keeps employment stable
WSECU has a wealth of talent. To better access skill sets and to enhance opportunities for employee professional development, we created a cross-training program. Last year employees spent 6,100 hours assisting other teams, while 26 employees took advantage of the chance to learn by working outside their departments. We appreciate the teamwork and look forward to continued employee growth.
Martin Way manager celebrates 50 years at WSECU
Sheri Bickle began her 50th year of employment early in 2024. Bickle joined the credit union in January 1975 as a “credit check girl” when she was 19 years old. Her goal at the time was to earn enough money to buy a car. But then she stayed. As time went on, Bickle took on different roles, mentored staff and helped members, including those she watched grow from childhood to adulthood when they took out their first loans. At a time when the median employee tenure is 3.9 years, we know just how special it is that Bickle made her career with us. We’re honored to have her.
Forbes best credit union four years running
Thank you for being a member. We’re proud that our nationally recognized service places us among the best credit unions in the state. It’s our pleasure to serve our members and communities with great financial products and expertise. We’re forever grateful to have the opportunity to do our part in making Washington state this wonderful place we call home.
