When it comes to financial health, Whatcom Educational Credit Union is in tip-top shape, according to a national study.
DepositAccounts.com looked at more than 6,600 credit unions across the nation, weighing a variety of factors, including capitalization, deposit growth and loan-to-reserve ratios. WECU ranked seventh highest in the 2014 edition.
Here's a link to the list.
LOMTO Federal Credit Union of Woodside, N.Y. topped the list. No other Whatcom County credit unions were on the top 200. The one regional bank that has Whatcom County branches that made the list was Sterling Savings at No. 92. Sterling recently merged with Umpqua Bank.
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WECU Marketing Manager Kessa Volland said she believes WECU ranked high because the credit union is focused on protecting customers and being local.
"We want to be here for our grandchildren's grandchildren," said Volland, adding that it was nice to be recognized for something they didn't seek out.
WECU has 330 employees and 11 branches. It currently has more than 73,000 members and slightly more than $1 billion in assets.
DepositAccounts.com is an online publication focused on banking and savings information for consumers. It covers more than 14,000 banks and credit unions.