Verity Credit Union
- Company typePrivate
- Founded1933
- HeadquartersSeattle, United States
- Headcount101–250
- GTM typeB2C
- OfferingServices
Verity Credit Union firmographics
Firmographics- Name
- Verity Credit Union
- Legal name
- Verity Credit Union
- Website
- https://veritycu.com
- Company type
- Private
- Founded year
- 1933
- Operating status
- Operating
- Headcount range
- 101–250 employees
- Ownership category
- akta.pro rank
Verity Credit Union industry classification
Industry- Product category
- Retail Banking
- NAICS
- Credit Unions (52213), Depository Credit Intermediation (5221)
- SIC
- Personal Credit Institutions (6141)
- akta.pro primary industry
- Community Credit Unions (Retail/Consumer Focus) (FSABAEAA)
- akta.pro secondary industries
- Bank & Credit Union Personal Loans (Unsecured Installment) (FSAKAAAL), Credit Cards & Revolving Credit (FSABAAAC), Business / Corporate Credit Cards (FSAKABAF)
Keywords
Where Verity Credit Union is headquartered
LocationHeadquarters
- HQ city
- Seattle
- HQ country
- United States
- HQ region
- North America
Offices9 records
Markets served
Verity Credit Union business model
Business model- GTM type
- B2C
- Offering type
- Services
- Cost components
- Personnel, Operations, Technology or R&D, Infrastructure, Marketing or Sales
Revenue model
- Loan Products: Interest income from auto loans, home loans, personal loans, credit cards, HELOCs, and business loans. Auto loans range from 4.49% APR, personal loans from 8.99% APR, HELOC from 7.24% APR.
- Deposit Services: Checking and savings accounts, including Max My Savings high-yield savings account (4.00% APY on balances up to $50,000). Membership requires $5 Prime Share Savings account.
- Credit Cards: Credit card products including Signature Rewards Visa with cash back rewards and points programs.
- Home Loans (via Partner): Mortgage products offered through partnership with Member First Mortgage, LLC.
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| Subscription | Monthly | Max My Savings High-Yield Savings |
| Unit Pricing | Monthly | Auto Loans |
| Usage-based | Monthly | Home Equity Line of Credit (HELOC) |
| Unit Pricing | Monthly | Fixed Home Equity Loan |
Go-to-market motion2 records
Distribution channels4 records
Marketing channels6 records
Verity Credit Union product offering
Product offeringCore offering
Verity Credit Union is a not-for-profit, member-owned credit union providing retail banking, deposit, lending, and wealth products to consumers, veterans, youth, small businesses, and nonprofits in Washington State. Its core offering spans checking and savings accounts (including Max My Savings at 4.00% APY on balances up to $50,000), auto and recreational loans, home equity lines/loans, mortgages (via partner Member First Mortgage), credit cards, and business banking services, delivered through eight branches across the Seattle metropolitan area and a digital banking platform with mobile apps.
Product overview
Verity Credit Union is a community-chartered credit union offering a comprehensive suite of financial products and services to members in Washington State. The core banking platform includes Digital Banking (web and mobile), Prime Share Savings, and various checking account options including Cash Back Checking. Lending products span auto loans, recreational loans (boats, RVs, motorcycles, bicycles), home equity loans/HELOC, and home mortgages through partner Member First Mortgage. The product portfolio emphasizes socially responsible banking with specialized offerings like Max My Savings (high-yield savings at 4.00% APY), youth accounts for financial education, green/sustainable lending for solar and eco-friendly vehicles, and business banking services. Digital services include bill payment, Zelle P2P transfers, digital wallets (Apple Pay, Samsung Pay, Google Pay), credit score monitoring, financial calculators, and financial coaching. The company also maintains a referral program, community partnerships with Habitat for Humanity, and an AI-powered credit underwriting partnership with Zest AI for more inclusive lending decisions.
Differentiator
Problem solved
Functional benefit
Products and services
- Digital Banking Comprehensive online and mobile banking platform for members to access accounts, pay bills, transfer funds via Zelle, monitor credit score, control cards, set travel alerts, and apply for loans. Available via web browser and mobile apps for Apple iOS and Android.
- Max My Savings High-yield savings account paying 4.00% APY on balances up to $50,000 with no monthly fees or minimum balance, available to members who pair it with a qualifying Cash Back Checking account.
- Auto Loans New and used vehicle financing with rates as low as 4.49% APR, terms up to 7 years, and rate discounts for eco-friendly vehicles, automatic payments, and lower loan-to-value ratios. Available direct and through partner CUDL AutoSmart at dealerships.
- Recreational Loans Financing for recreational vehicles including boats, RVs, motorcycles, ATVs, jet skis, and bicycles, with competitive rates and flexible terms.
- Green Lending (Solar and Eco-Friendly Vehicle Loans) Specialized loans supporting environmental sustainability, including solar panel financing and rate-discounted auto loans for EPA SmartWay Certified vehicles.
- Youth Accounts Interest-bearing youth savings accounts for children ages 0-17, teen checking accounts with debit cards for ages 14+, and up to $40 in annual activity reimbursement to support financial education.
- Home Equity Loans and HELOC Home equity line of credit (HELOC) and fixed-rate home equity loans allowing homeowners to borrow up to 80% of their primary home value (60% for investment properties) for improvements, debt consolidation, or other expenses, with credit lines from $20,000 to $250,000.
- Home Loans (via Member First Mortgage) Mortgage products offered through partnership with Member First Mortgage, LLC, including FHA, VA, USDA, construction-to-permanent, fixed-rate, and adjustable-rate mortgages for Washington State residents.
- Credit Cards Verity credit cards including the Signature Rewards Visa with points and cash back rewards, available for personal and business use, with digital wallet support and digital card issuance capabilities.
- Business Checking and Savings Business banking accounts including business checking (with a $200 Harland Clarke credit for new accounts), business savings, and dedicated business rates for small businesses and nonprofits.
- Business Loans Commercial lending products for small businesses, including various loan options delivered through business partners and SBA programs.
- Financial Coaching Free one-on-one financial coaching and confidential counseling for members covering budgeting, debt management, mortgage challenges, and financial planning, delivered in partnership with GreenPath Financial Wellness.
- Verity's List Values-aligned local business directory connecting Verity members with vetted small businesses in Washington State, supporting community-driven commerce.
Quantifiable outcome
- 25% higher loan approval rates with no added risk tolerance using Zest AI underwriting
- +6 more outcomes
Companies that use Verity Credit Union
Customer profileNamed customers3 records
Segments5 records
Ideal customer profiles5 records
Verity Credit Union technology and API
TechnologyTechnology focussed No
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Integration12 records
AI capability2 records
Feature1 record
Verity Credit Union partnerships and signals
Strategic signalPartnerships
Seven partnerships are on record, tiered core and minor.
- Zest AIcorePartnership with Zest AI provides AI-automated underwriting using approximately 300 data points to assess credit risk, enabling more equitable and accurate lending decisions. The system achieves over 25% higher approval rates with no added risk tolerance, including 41% higher approval for Black applicants, 49% for Hispanic applicants, 40% for women, and 31% for AAPI applicants. This supports Verity's mission to reach underserved communities.
- Member First Mortgage, LLC (MFM)corePartnership with Member First Mortgage, LLC enables Verity to offer home mortgage products including purchase loans, refinancing, and home equity loans. MFM (NMLS ID: 149532) is a Licensed Mortgage Lender/Servicer located in Grand Rapids, MI. Verity acts as agent for MFM with NMLS ID 456945.
- GreenPath Financial WellnesscoreVerity partners with GreenPath Financial Wellness to provide free and confidential financial counseling services to members. GreenPath counselors help review household budgets, develop plans to address mortgage challenges, understand assistance options, and improve overall financial stability.
- Habitat for Humanity Seattle-King CountycoreCommunity partnership for home repairs and preventing displacement. Verity donates $100 to Habitat for Humanity Seattle-King County for every mortgage closed in 2022. Members generated approximately $30,000 in donations in 2021 directly supporting Habitat's Home Repair program. Employees volunteer for Habitat builds.
- Global Alliance for Banking on Values (GABV)coreMembership organization of banks committed to sustainable economic, social, and environmental development. Verity has signed the Climate Pledge committing to measure and reduce its carbon footprint.
- Business Impact Northwest / Washington Women's Business CenterminorLocal partner supporting female entrepreneurs and women-owned businesses through the Washington Women's Business Center, a resource for businesses getting started or seeking guidance.
- GSBA (Greater Seattle Business Association)minorWashington State's LGBTQ+ and allied chamber of commerce representing over 1,300 small business, corporate, and nonprofit members promoting equality and diversity in the workplace.
Scale indicators5 records
Recent moves6 records
Expansion highlights5 records
Verity Credit Union competitors and assessment
Company assessmentDirect peers
- BECU: BECU is a large Washington-state community credit union serving the Puget Sound region with full retail, lending, and digital banking services — directly comparable to Verity in geography, charter type, and product breadth, but at materially larger scale.
- Sound Credit Union: Sound is a Washington-state community credit union offering consumer and business banking across the Puget Sound — directly comparable in charter, geography, and target member base, making it a natural competitor for Verity.
- WSECU (Washington State Employees Credit Union): WSECU is a Washington-state chartered credit union serving public-sector and community members statewide. Comparable in charter type, Washington footprint, and full-service retail banking model.
- Gesa Credit Union: Gesa is a community-chartered credit union based in Washington State offering retail, mortgage, and business banking — directly comparable in charter and geographic focus, though with a broader Washington footprint than Verity.
- Kitsap Credit Union: Kitsap is a Washington-state community credit union serving the Kitsap Peninsula and broader Puget Sound with similar deposit and lending products. Comparable in cooperative structure and Washington focus.
- Self-Help Federal Credit Union: Self-Help FCU is a CDFI-certified, mission-driven credit union focused on underserved communities — closely comparable to Verity on values-based banking, inclusive lending, and community development strategy, though serving different geographies.
Regional players
- OnPoint Community Credit Union: OnPoint is a large Pacific Northwest community credit union headquartered in Portland, Oregon, with similar community-development orientation and full retail/business banking. Comparable as a regional cooperative peer outside Washington.
Broad incumbents
- KeyBank: KeyBank is a regional commercial bank with a major Seattle and Pacific Northwest presence offering deposit, lending, and wealth products. Comparable as a broad incumbent competitor in Verity's core Seattle metro market.
- U.S. Bank: U.S. Bank is a large national commercial bank with significant retail and small-business presence in the Seattle metro. Comparable as a broad incumbent competing for the same consumer and small-business customers.
- Beneficial State Bank: Beneficial State is a values-based, B-Corp-certified community bank on the West Coast with a focus on economic, social, and environmental impact. Comparable to Verity in mission-driven banking philosophy and CDFI-aligned orientation.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat5 records
Key risks6 records
Key highlights7 records
Customer concentration
Verity Credit Union social profiles
Digital presenceVerity Credit Union compliance and trust
Trust signalCompliance5 records
Verity Credit Union financial estimates
Financial estimateRevenue estimate
Valuation estimate
Verity Credit Union leadership team
Management profileNumber of profiles
Profiles7 records
Verity Credit Union funding detail
Funding detailFunding overview
Funding rounds2 records
Investors1 record
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Verity Credit Union M&A and investment
M&A and investmentM&A
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about Verity Credit Union
What does Verity Credit Union do?
Verity Credit Union is a not-for-profit, member-owned credit union providing retail banking, deposit, lending, and wealth products to consumers, veterans, youth, small businesses, and nonprofits in Washington State. Its core offering spans checking and savings accounts (including Max My Savings at 4.00% APY on balances up to $50,000), auto and recreational loans, home equity lines/loans, mortgages (via partner Member First Mortgage), credit cards, and business banking services, delivered through eight branches across the Seattle metropolitan area and a digital banking platform with mobile apps.
Is Verity Credit Union a public or private company?
Verity Credit Union is a private company. It is classified as nonprofit foundation owned and is currently operating.
When was Verity Credit Union founded?
Verity Credit Union was founded in 1933. It employs 101 to 250 people.
Where is Verity Credit Union based?
Verity Credit Union is headquartered in Seattle, United States, in the North America region.
How does Verity Credit Union make money?
Four revenue lines are on record. Loan Products are the primary driver. The others are deposit Services, credit Cards and home Loans (via Partner).
Who are Verity Credit Union's main competitors?
Direct peers on record are BECU, Sound Credit Union, WSECU (Washington State Employees Credit Union), Gesa Credit Union, Kitsap Credit Union and Self-Help Federal Credit Union. OnPoint Community Credit Union is listed as a regional player. Broad incumbents are KeyBank, U.S. Bank and Beneficial State Bank.
Does Verity Credit Union have an API?
No public API is recorded for Verity Credit Union.
What industry is Verity Credit Union in?
Verity Credit Union's product category is Retail Banking. Its primary akta.pro industry code is FSABAEAA, Community Credit Unions (Retail/Consumer Focus), with a secondary code of FSAKAAAL, Bank & Credit Union Personal Loans (Unsecured Installment). Its NAICS code is 52213 and its SIC code is 6141.