Overview of WCLA

The credit union first came into existence in 1984 and has been operating for the last 38 years. WCLA is based in the state of Washington and is also the 45th largest credit union operating in the state; this is calculated based on its total assets. The National Credit Union Administration (NCUA) insures deposits at credit unions in addition to regulating and supervising them. The NCUA was formed by the U.S. Congress in 1970. The company has a total of 1 branch and employs a total of 8 employees.

Who Can Join?

People and institutions engaged in the following activities may be eligible for membership: loggers, logging companies and crew members, road construction, truck and equipment sales, service shops, saw and supply shops, mills and/or lumberyards, industrial and private timberland owners, and nurseries.

Overview of the Credit Union’s Assets and Liabilities

The credit union currently has total assets of $95 million, total deposits of $73 million and net loans outstanding of $79 million. On average its members had a total of $55,460 deposited with the credit union – this is a helpful metric to monitor as it provides us with an idea of the level of engagement of the credit union’s membership base. In addition, the credit union has a loan to deposit ratio of 109%, which is higher than its peer group average of 55%. Generally speaking, a lower loan to deposit ratio is better as it implies that the credit union is funding more of its lending activities with deposits. Lastly, WCLA’s loan portfolio mainly consists of mortgages and lines of credit and auto loans which represent 8% and 1% of its loan book and had outstanding balances of $6 million and $1 million, respectively.

Contact and Other Helpful Information

  • Main Office Address: Po Box 207, Olympia, WA 98507
  • Website: http://loggerscu.com
  • Phone: (360) 352-5033
  • Charter Number: 68328
  • Charter Year: 1984
  • Employees: 8
  • Routing Number: N/A
  • Membership: The credit union has a membership base of 1,308 which is significantly smaller than the average credit union operating within the state. Credit unions in Washington each have on average 54,640 members. Over the past two years, the credit union’s total membership has increased by 5%.

WCLA: Financial Overview


As shown in the above chart, WCLA’s assets have fallen by 0.9% over the past year, while its mortgages and lines of credit – which is its largest category of lending – have increased by 5.5% over the past year. Furthermore, the company’s deposits have grown by 43.2% while its total loans have fallen by 4.6%. ‘Net worth’ is a good way to assess the long-term performance of a credit union as it represents the accumulated value of the entity over time. Importantly this is value that accrues to the credit union’s owners: its members. WCLA has a total net worth of $15 million. This implies that the credit union has a net worth per member of $11,300 which is greater than the national average of $1,606.

Overview of the Credit Union’s Performance Metrics


In the above chart we have displayed three statistics that are important in evaluating a credit union’s performance and shown how WCLA compares on these metrics, in addition to detailing how the credit union performed on each metric in the prior year. Beginning with WCLA’s return on assets (aka ROA), on this statistic the credit union performs well above the average comparable credit union. When we look at the year over year trends, we can see that ROA has improved given the 0.18% change. A credit union’s ROA is a good way of assessing how well the entity is using its assets to generate returns. The delinquency rate is a measure of what percentage of an entity’s loan book has fallen past due i.e. is delinquent. All else equal, a higher rate implies a worse performing loan portfolio. In the case of WCLA its delinquency rate is well above its peers and over the past 12 months the credit union’s delinquency rate has deteriorated. Finally, the net worth ratio for the credit union is 15.6% which is well above its peer group average of 10.2%. This metric has improved substantially on a year over year basis and stood at 12.9% a year ago. Based on the NCUA guidelines, the credit union is considered to be well capitalized.


Our final rating for WCLA, after assessing the credit union on what we consider to be the important metrics, is 3.7 out of 5.0, which is very good. Importantly, please be aware that none of the information presented is meant to be investment advice or advice of any form. All of the information and views expressed in this note and on this site are purely for informational purposes.