Question 1

What is Solarity Credit Union?

Accepted Answer

Solarity Credit Union is a state-chartered credit union headquartered in Yakima, Washington, serving members throughout Washington state and beyond. With approximately $825 million in assets and nearly 47,000 members, Solarity is a full-service financial cooperative focused on delivering what it calls "Brighter Banking" – a commitment to innovative, member-centric financial services. The credit union has earned a 5-star "Superior" rating from BauerFinancial and has been recognized as the best credit union and best auto loan provider in its market. Solarity operates multiple branch locations across Washington and provides access to over 30,000 surcharge-free ATMs nationwide.

Question 2

When was Solarity Credit Union founded?

Accepted Answer

Solarity Credit Union was formed in 2011 through the merger of two historic credit unions with deep community roots. Fireman's Credit Union was founded in 1939 to serve Yakima's firefighters and gradually expanded its membership beyond the firehouse to become Yakima Valley Credit Union, growing to approximately $285 million in assets and 30,300 members. Catholic Credit Union was chartered in 1951 to provide parish families with safe savings and borrowing options, eventually expanding beyond parish walls and growing to $185 million in assets with 18,000 members. The two healthy, well-capitalized credit unions merged on October 1, 2011, creating the $470 million Solarity Credit Union. The name "Solarity" combines "azure" (clear blue sky) and elements suggesting solar energy, intentionally evoking light, warmth, and the promise to guide members toward brighter financial futures.

Question 3

Where is Solarity Credit Union headquartered?

Accepted Answer

Solarity Credit Union is headquartered in Yakima, Washington, with its main branch located at 110 North 5th Avenue. The credit union maintains its administrative offices and primary operations in Yakima, the city where both predecessor institutions were originally founded.

Question 4

Where does Solarity Credit Union operate?

Accepted Answer

Solarity Credit Union operates throughout Washington state, with multiple branch locations across the region. The credit union's field of membership includes anyone who lives, works, worships, or attends school in Washington. Solarity has expanded its reach from its Yakima Valley origins to serve members across central Washington and beyond. Members have access to over 30,000 surcharge-free ATMs nationwide through cooperative networks. The credit union also serves members internationally, as some members have relocated outside Washington but maintain their membership for life.

Question 5

What services does Solarity Credit Union offer?

Accepted Answer

Solarity Credit Union offers comprehensive financial services including Free Checking with unlimited transactions and no monthly service fees, Bonus Savings accounts earning up to 3.25% APY on balances up to $10,000 with qualifying activities, and share certificates. Lending products include home loans for purchases and refinances, auto loans with competitive rates including refinancing options, boat and RV loans, personal loans, business loans, and commercial real estate financing for income property investors. The credit union provides the Ca$h4me Instant Loan available through online banking with funding in minutes. Digital services include robust online banking, mobile banking apps with mobile deposit, eStatements, and bill payment services. Solarity also offers credit cards with rewards programs, insurance and investment sales services, and business banking services including business share accounts and loans.

Question 6

What makes Solarity Credit Union unique?

Accepted Answer

Solarity stands out through its "Brighter Banking" philosophy, emphasizing personalized service where members are "more than just an account number." As a not-for-profit cooperative, the credit union returns earnings to members through lower fees and better rates rather than paying stockholders. Solarity has maintained strong community engagement through initiatives like the Holiday Gift Drive supporting local families and partnerships with organizations locally and globally. The credit union has demonstrated innovative leadership in implementing advanced technology, including interactive teller machines (ITMs) that provide extended access to live tellers. Solarity offers competitive rewards programs for everyday banking activities and maintains a strong financial position with a 17.06% net worth ratio. The credit union is led by President/CEO Mina Worthington and governed by a volunteer Board of Directors elected by members, ensuring decisions prioritize member interests.

Question 7

What type of financial institution is Solarity Credit Union?

Accepted Answer

Solarity Credit Union is a state-chartered credit union supervised by the Washington Department of Financial Institutions and federally insured by the National Credit Union Administration (NCUA). As a state-chartered institution, it operates under Washington state credit union laws while maintaining federal deposit insurance up to $250,000 per member. Membership is open to anyone who lives, works, worships, or attends school in Washington state, requiring only a $5 deposit to establish ownership. Solarity operates as a member-owned cooperative where each member has equal voting rights to elect the Board of Directors and influence major decisions. The cooperative structure means the credit union exists to serve members rather than generate profits for outside shareholders, embodying the credit union philosophy of "people helping people."

Solarity Credit Union

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About Solarity Credit Union in the United States