Overview of Central Willamette Credit Union

Central Willamette Credit Union has been operating for 67 years, having first been established in the year 1955. The credit union mainly focuses on the provision of auto loans which represent 45% of its loans outstanding. In terms of its overall asset base, Central Willamette Credit Union is larger than 85% of credit unions in the country. Unlike banks, credit unions like Central Willamette Credit Union are not insured by the Federal Deposit Insurance Corporation (FDIC) but instead receive deposit insurance from the National Credit Union Administration (NCUA), which operates in a similar fashion to the FDIC. The company has a total of 6 branches and employs a total of 93 employees.

Details on the Credit Union’s Balance Sheet

The credit union has total assets of $476 million. It has a deposit base of $423 million which works out to $13,273 of deposits per member compared with the state-wide average of $14,952 and national average of $13,594. Central Willamette Credit Union also has net loans outstanding of $303 million. The average credit union in Central Willamette Credit Union’s peer set has a loan to deposit ratio of approximately 63%. In comparison, Central Willamette Credit Union has a loan to deposit ratio of 72% which is clearly higher than the peer set. A lower ratio is generally better as it indicates that the lending activities of a credit union are more comfortably covered by its deposit base. Deposits are often the most cost effective source of funding for banks and credit unions. Lastly, Central Willamette Credit Union’s loan portfolio mainly consists of auto loans and mortgages and lines of credit which represent 45% and 21% of its loan book and had outstanding balances of $136 million and $63 million, respectively.

Contact and Other Helpful Information

  • Main Office Address: Po Box 1899, Albany, OR 97321
  • Website: http://www.centralwcu.org
  • Phone: (541) 928-4536
  • Charter Number: 62665
  • Charter Year: 1955
  • Employees: 93
  • Routing Number: 323274076
  • Membership: The credit union has a membership base of 31,868 which is smaller than the average credit union operating within the state. Credit unions in Oregon each have on average 38,592 members. Over the past three years, the credit union’s total base of members has increased by 7%.

Central Willamette Credit Union: Financial Overview

central willamette credit union-balance-sheet-metrics

Detailed above is a chart showing the progression of four important balance sheet items over the past year for Central Willamette Credit Union. Assets and total loans for the credit union have increased by 16.9% and expanded by 5.7%, respectively. In addition, the company’s auto loans, which as noted earlier is the largest portion of the loan book, has decreased by 2.8%. Lastly, the credit union’s deposits have grown by 22.6%. A credit union’s net worth is a good proxy for the value that a credit union has accrued over time. Based on the latest available information, Central Willamette Credit Union’s net worth stands at $41 million. This implies that the credit union has a net worth per member of $1,280 which is below the national average of $1,606.

Overview of the Credit Union’s Performance Metrics

central willamette credit union-selected-performance-metrics

In the above chart we have displayed three statistics that are important in evaluating a credit union’s performance and shown how Central Willamette Credit Union compares on these metrics, in addition to detailing how the credit union performed on each metric in the prior year. If we take a look at Central Willamette Credit Union’s return on assets – which is usually a good measure of how efficiently a company is using its assets to produce profits – we see that the credit union is well above the average comparable credit union and also that over the past year ROA has improved substantially given the year over year change of 0.20%. We look at the delinquency rate within a loan portfolio as a way to assess the performance and quality of a credit union’s loan book. A lower delinquency rate indicates a better performing portfolio. Central Willamette Credit Union has a delinquency rate that is approximately inline with its peer group average and when compared with the prior year, we can see that it has improved. Finally, the net worth ratio for the credit union is 8.6% which is below its peer group average of 9.7%. This metric has been relatively stable on a year over year basis and stood at 8.7% a year ago. Based on the NCUA guidelines, the credit union is considered to be well capitalized.


Our final rating for Central Willamette Credit Union, after assessing the credit union on what we consider to be the important metrics, is 3.0 out of 5.0, which is above average. As a final note, please remember that our rating is the product of a proprietary scoring methodology which uses nationwide data for credit unions and our survey work. Importantly, none of the work presented herein is intended to be investment advice or advice of any sort and is presented purely for informational purposes.