Qualstar Credit Union

What Qualstar Credit Union does

Qualstar Credit Union is a state-chartered, NCUA-insured member-owned financial cooperative headquartered in Bothell, Washington, operating four retail branches across the Puget Sound region (Everett, Renton, Federal Way, Tacoma) and serving members throughout Washington, Oregon, Idaho, and Alaska. Originally founded in 1952 as Safeway Seattle Employees' Federal Credit Union, the institution rebranded as Qualstar to reflect a broadened membership base that today spans labor-union members from at least ten locals (IBEW, LIUNA, Carpenters, Painters, Sheet Metal Workers, Roofers, Bricklayers, Cement Masons, Drywall Finishers, Heat and Frost Insulators), employees of more than 300 Washington companies, and community residents. It is regulated by the Washington State Department of Financial Institutions and the NCUA, holds NMLS registration 664634, and carries a Bauer Financial 5-Star rating.

The product portfolio is a full-service consumer banking suite: deposit products (savings, Simply and Premier Checking, Premier Money Market at 3.51% APY, certificates, Union Benefit Accounts, Youth Accounts), consumer lending (auto loans from 4.49% APR, Visa Gold and +Rewards cards from 11.49% APR, personal lines of credit at 13.49% APR), and real-estate lending (Fannie Mae and Home Ready conforming, ARMs, jumbos up to $2.5M, Fast Track Home Loans 5.24%-9.49% APR, Option Equity HELOC 6.25%-10.75%, Advantage Equity fixed-rate 4.74%-11.24%, and Land Loans up to 80% LTV). Distribution combines physical branches, an iOS/Android mobile app with Zelle and mobile deposit, a desktop home-banking platform, and CO-OP shared branching giving access to 30,000+ surcharge-free ATMs. The technology stack is standard credit-union core banking with no proprietary AI/ML layer, no public API, and partnerships handled via Visa, Zelle, TruStage (insurance), Harland Clarke (checks), CO-OP (ATM/shared branching), and Wistia (video content).

Revenue mechanics follow the standard credit-union model: net interest income on the loan book (auto, mortgage, HELOC, Visa, personal) is the primary stream, supplemented by transaction fees on deposits, overdraft, wires, and Visa interchange. Pricing is fully rate-disclosed on the website, with Premier Money Market at 3.51% APY, vehicle loans from 4.49% APR, home equity from 4.74% APR, Visa at 11.49% APR, and personal lines at 13.49% APR. The go-to-market motion is dual-channel: direct-to-consumer through branches and digital banking, and community-led through union locals and employer partnerships, with financial-education content ('It's a Money Thing') and the Boys & Girls Clubs sponsorship functioning as top-of-funnel member acquisition.

Name

Qualstar Credit Union

Legal name

Qualstar Credit Union

Website

https://qualstarcu.com

Company type

Private

Founded year

1952

Operating status

Operating

Headcount range

51–100 employees

Short description

Qualstar Credit Union is a Washington-state-chartered, NCUA-insured member-owned cooperative offering deposit, consumer-lending, and real-estate products to union members, employees of 300+ Washington companies, and Puget Sound community residents across four branches.

Ownership category

akta.pro rank

Product category

Retail Banking

NAICS

Credit Unions (52213), Credit Unions (522130)

SIC

Savings Institutions, Not Federally Chartered (6036)

akta.pro primary industry

Employer/Occupational Credit Unions (FSABAEAB)

akta.pro secondary industries

Community Credit Unions (Retail/Consumer Focus) (FSABAEAA), Cooperative Banks (Member-Owned Commercial/Retail) (FSABAEAF)

Keywords

• Credit union services
• Consumer lending
• Mortgage loans
• Deposit accounts
• Mobile banking

Headquarters

HQ city

Everett

HQ country

United States

HQ region

North America

Offices5 records

Markets served

GTM type

B2C

Offering type

Services

Revenue model

1. Interest Income from Loans: Primary revenue source from auto loans, home equity loans, mortgages, credit cards, and personal loans extended to members. Interest rates vary by product type and member creditworthiness.
2. Deposit Account Fees: Fee income from various account services including overdraft protection, wire transfers, and account maintenance.
3. Credit Card Fees: Revenue from Visa credit card transactions and associated fees.

Pricing tiers

Go-to-market motion2 records

Distribution channels5 records

Marketing channels5 records

Core offering

Qualstar Credit Union is a member-owned financial cooperative that offers deposit accounts (savings, checking, money market, youth, and union benefit accounts), consumer loans (auto, mortgage, home equity, personal, and Visa credit cards), and digital banking services. Founded in 1952, it serves union members, community residents, and employees of over 300 Washington companies, primarily operating through four branches in the Puget Sound region.

Product overview

Qualstar Credit Union operates as a full-service financial institution offering a unified suite of deposit, lending, and digital banking products primarily serving union members, Safeway employees, and community residents in Washington State and the broader Pacific Northwest. Its core product portfolio centers on traditional banking services: savings and checking deposit accounts (including specialized Union Benefit and Youth accounts), vehicle loans, real estate mortgages (including Fast Track and jumbo options up to $2.5M), home equity loans (Option Equity HELOCs and Advantage Equity fixed-rate products), Visa® credit and debit cards, and personal/convenience loans. The digital banking layer—Mobile & Home Banking—serves as the unified access channel for account management, Zelle® payments, Bill Payer, and credit score tracking. Supplementary offerings include TruStage insurance products, financial education curricula branded as 'It's a Money Thing' (covering Youth, Life and Loans, Saving, and Credit topics), and the Edward G. Streuli Scholarship program for member families.

Differentiator

Problem solved

Functional benefit

Products and services

• Savings Accounts

Quantifiable outcome

• Members save money through lower interest rates - example cited member refinancing auto loan from 28% to 7%
• +2 more outcomes

Named customers1 record

Segments4 records

Ideal customer profiles4 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration5 records

Partnerships

Four partnerships are on record, tiered core, minor and primary.

• CO-OP NetworkcoreTechnology or IntegrationPartnership providing access to 30,000+ shared branch locations and surcharge-free ATMs nationwide. Members can use CO-OP ATMs at Costco, 7-Eleven, Circle K, Publix, Dunkin Donuts, and other locations with no surcharge fees from either network.
• TruStageminorOthersInsurance products partner providing Accidental Death & Dismemberment (AD&D), Auto & Homeowner's Insurance, and Life Insurance products to members.
• Boys & Girls ClubsprimaryStrategic or Co-development PartnerPrimary charitable partner for community giving. Annual charitable partnership supporting youth enrichment programs. For every $1 spent, Washington Clubs generate $12.30 of positive economic impacts in their local community. Focus on Youth Financial Literacy Month in April and other fundraising efforts.
• Various Labor UnionsprimaryChannel Partner/ Reseller/ DistributorUnion membership channel partnerships with multiple labor unions including: Bricklayers, Carpenters, Cement Masons, Drywall Finishers, Heat and Frost Insulators, IBEW (Electrical Workers), Laborers (LIUNA), Painters, Roofers, and Sheet Metal Workers. Union members receive specialized benefit accounts and services.

Scale indicators4 records

Recent moves6 records

Expansion highlights5 records

Direct peers

• Verity Credit Union: Seattle-area cooperative credit union serving employer groups and community residents with an overlapping deposit, lending, and digital banking product set.
• BECU (Boeing Employees' Credit Union): Washington's largest credit union, originally founded as an employer-based (Boeing) occupational credit union in the same Pacific Northwest region as Qualstar; offers the same full-service suite (deposits, mortgages, HELOC, Visa cards) to employer-sponsor and community members.
• Sound Credit Union: Pacific Northwest cooperative credit union operating a similar branch-plus-digital model with deposits, mortgages, and consumer loans aimed at occupational and community members.
• WSECU (Washington State Employees Credit Union): Washington-based, state-chartered cooperative credit union serving occupational and community members across the Pacific Northwest with comparable deposit, mortgage, and consumer-lending products.
• Numerica Credit Union: Pacific Northwest cooperative credit union lending across Washington, Oregon, Idaho, and beyond, with a multi-state residential and consumer-lending footprint that mirrors Qualstar's WA/OR/ID/AK lending geography.
• Gesa Credit Union: Washington state-chartered cooperative credit union with a similar occupational/community blend, multi-branch Pacific Northwest footprint, and full deposit and consumer-lending menu comparable to Qualstar.
• SchoolsFirst Federal Credit Union: Large occupational-affiliated (school employees) federal credit union; comparable occupational-affinity member model, full deposit and lending suite, and member-owned cooperative structure—though operating in California.
• Tapestry Financial Credit Union: Snohomish County (Everett/WA)-based cooperative credit union operating in Qualstar's home Puget Sound market with overlapping branch-banking and consumer-lending services.

Regional players

• OnPoint Community Credit Union: Oregon-headquartered cooperative credit union with Pacific Northwest digital and branch delivery; competes with Qualstar in the cross-state WA/OR lending corridor but is primarily Oregon-anchored.

Broad incumbents

• Columbia State Bank: Washington-based commercial bank operating branches in the Puget Sound region, providing overlapping deposit and mortgage products to consumers and small businesses in Qualstar's core geography.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

• Facebookfacebook.com/QualstarCU
• Instagraminstagram.com/qualstarcreditunion
• Xx.com/qualstar_cu
• LinkedInlinkedin.com/company/qualstar-credit-union

Compliance3 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles7 records

Subsidiaries1 record

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Qualstar Credit Union