Type Credit union Area served Seattle, Washington Website smcu.com Founded 1933 Number of locations 8 | Industry Financial services Members 41,585 Headquarters Seattle Total assets 605.8 million USD | |
Products Savings; checking; consumer loans; mortgages; credit cards; investments; online banking Profiles | ||
Seattle Metropolitan Credit Union (or SMCU) is a United States credit union headquartered in Seattle, Washington, chartered and regulated under the authority of the National Credit Union Administration (NCUA).
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Who is seattle metropolitan credit union
History
The credit union was founded by Seattle municipal employees in 1933 under the name City Credit Union, before taking its current name in 1997. In 2003 SMCU merged with the Teamsters' Credit Union, acquiring $11 million in assets, 3,100 new members, and a single branch location on Seattle's Denny Way. Another merger took place in 2007, with Credit Union Northwest.
As of 2015, the chief executive officer of SMCU is Richard Romero.
Locations
SMCU's headquarters is located on 3rd Avenue and Columbia Street in Seattle on land sold to it by First Interstate Bank for $200,000 in 1978. At the time of the sale, the property was being held in trust by the bank for Freeman Allard, a Seattle firefighter who had become the beneficiary of his parents estate on their death in 1958. The Washington Supreme Court would later rule that First Interstate's sale of the property to what was then City Credit Union breached its fiduciary duty to Allard by failing to secure the highest value possible. (Four years after the sale the land was appraised at $7.5 million.)
In addition to its main office location, SMCU operates seven branch facilities.
Membership
As with all credit unions, membership in SMCU is limited to individuals sharing the common bond defined in the credit union's charter. This is currently limited to: