EIN 91-6035907

Qualstar Credit Union

IRS 501(c) type
501(c)(14)
Num. employees
181
Year formed
1997
Most recent tax filings
2022-12-01
Description
Qualstar Credit Union provides sound financial products and services who work hard for the money and want to make the most of it. From basic savings and checking accounts that earn interest to auto loans, credit cards, home loans and more.
Related structure
Qualstar Credit Union is child organization, under the parent exemption from Credit Unions in the State of Washington / Division of Credit Unions.
Also known as...
Credit Unions in the State of Washi Ngton
Total revenues
$35,866,616
2022
Total expenses
$25,023,764
2022
Total assets
$772,976,496
2022
Num. employees
181
2022

Program areas at Qualstar Credit Union

Interest expense in the amount of $2,560,761 was paid to members for money on deposit at the Credit Union. Deposit accounts earning interest include checking, savings, money market, ira, and certificate of deposit accounts. The Credit Union has about 69,000 deposit accounts that can earn interest.
The Credit Union expensed $1,097,525.16 during the year for loan servicing costs. These costs were paid to originate and service loans to members. The Credit Union has about 64,000 open loan accounts.
The Credit Union expensed $1,163,311 in provision for loan loss costs for the year. The expense was to fund the accrual for doubtful loans on the balance sheet. The Credit Union has about 64,000 open loan accounts.

Personnel at Qualstar Credit Union

NameTitleCompensation
Michael G ElfstromPresident and Chief Executive Officer$396,685
Mark PetersenChief Financial Officer$216,165
Lacinda BlanchetteVice President of Member Engagement / Vice President Member Relations$149,940
Patience TennisVice President of Human Resources$153,369
Brett TreatDirector of It / Is Manager$149,467
...and 10 more key personnel

Financials for Qualstar Credit Union

RevenuesFYE 12/2022
Total grants, contributions, etc.$0
Program services$33,024,262
Investment income and dividends$2,012,189
Tax-exempt bond proceeds$0
Royalty revenue$0
Net rental income$-23,335
Net gain from sale of non-inventory assets$3,500
Net income from fundraising events$0
Net income from gaming activities$0
Net income from sales of inventory$0
Miscellaneous revenues$850,000
Total revenues$35,866,616

Form 990s for Qualstar Credit Union

Fiscal year endingDate received by IRSFormPDF link
2022-122023-11-15990View PDF
2021-122022-11-15990View PDF
2020-122021-05-17990View PDF
2019-122021-06-24990View PDF
2018-122019-09-14990View PDF
...and 9 more Form 990s

Organizations like Qualstar Credit Union

OrganizationLocationRevenue
Verity Credit UnionSeattle, WA$38,343,946
Kitsap Credit Union (KCU)Bremerton, WA$104,047,497
Numerica Credit UnionSpokane Valley, WA$175,521,623
Salal Credit UnionSeattle, WA$63,361,594
Columbia Community Credit UnionVancouver, WA$91,416,897
Global Credit UnionSpokane, WA$30,633,137
Sound Credit UnionTacoma, WA$118,091,214
Horizon Credit Union (HZCU)Spokane Valley, WA$83,502,229
Community 1st Credit UnionDupont, WA$10,270,112
Northwest Plus Credit UnionEverett, WA$11,218,832
Data update history
January 8, 2024
Posted financials
Added Form 990 for fiscal year 2022
January 8, 2024
Updated personnel
Identified 1 new personnel
December 27, 2023
Used new vendors
Identified 1 new vendor, including
July 14, 2023
Posted financials
Added Form 990 for fiscal year 2021
July 14, 2023
Used new vendors
Identified 18 new vendors, including , , , , , , , , , , , , , , , , , and
Nonprofit Types
Credit unionsChapter / child organizations
Issues
No issues found
Characteristics
Political advocacy
General information
Address
PO Box 3050
Bothell, WA 98041
Metro area
Seattle-Tacoma-Bellevue, WA
County
King County, WA
Website URL
qualstarcu.com/ 
Phone
(425) 643-3400
Facebook page
QualstarCU 
Twitter profile
@qualstar_cu 
IRS details
EIN
91-6035907
Fiscal year end
December
Taxreturn type
Form 990
Year formed
1997
Eligible to receive tax-deductible contributions (Pub 78)
No
Categorization
NTEE code, primary
W60: Financial Institutions, Credit Unions
NAICS code, primary
522130: Credit Unions
Parent/child status
Child within group exemption
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