State credit unions and banks fare well in latest ratings

Staff writerMarch 14, 2014 

Banks and credit unions both in the state and in the South Sound have recovered, and overall are doing quite well.

The financial institution rating service Bauer Financial on Friday issued its quarterly “star rating” list of institutions doing business in Washington.

The results:

• Of 106 credit unions, 58 earned the top 5-star rating.

For locally based institutions, the list of top performers includes:

American Lake C.U. in Lakewood, America’s Credit Union at JBLM, Community 1st C.U. in DuPont, Harborstone C.U. in Tacoma, IBEW 76 Federal C.U. in Tacoma, KBR C.U. in Tacoma, Mt. Rainier Federal C.U. in Puyallup, Sound C.U. in Tacoma, Tacoma Longshoremen C.U. in Fife, Tacoma Narrows Federal C.U. in Ruston, Twinstar C.U. in Olympia, Washington State Employees C.U. in Olympia, WCLA C.U. in Olympia, White River C.U. in Enumclaw and Woodstone C.U. in Federal Way.

Only one credit union, Northwest Baptist Federal C.U. or Seattle, received the lowest rating of zero stars.

• Of 93 banks, 39 earned the top 5-star rating.

For locally based institutions, the list includes:

Columbia Bank in Tacoma, Fife Commercial Bank in Fife, Heritage Bank in Olympia, Kitsap Bank in Port Orchard and Olympia Federal Savings and Loan in Olympia.

Among multi-region banks doing business in the area but based elsewhere, the list of top performers includes Banner Bank, First Citizens Bank, KeyBank, Sterling Savings Bank, Umpqua Bank, Union Bank and Washington Trust Bank.

Two banks in the state received the lowest rating. Those include Eastside Commercial Bank of Bellevue and Hometown National Bank of Longview.

 

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