Express CU turns financial goals into fantastic realities
Express CU provides affordable and secure financial services to meet the diverse needs of WA State
residents.
Regardless of income level, credit score, or immigration status, Express CU is a place where
everyone can benefit.
We are a secure alternative to banks, payday lenders, and check cashers.
We believe that…
- Everyone deserves access to an affordable bank account regardless of their income, credit, or immigration status.
- Providing accessible/flexible financial products and tools helps people by building credit, increasing their assets, and gaining economic security.
- We help people become financially organized to meet their goals.
- Offering ‘just in time’ financial coaching, education, and other personalized support helps our members strengthen their families and local communities.
Mission
Our mission is to collaborate with our community to create access to financial opportunities.
Everyone deserves access to fair and affordable accounts and loans. Financially resilient families and households are the foundation for building strong societies. Express CU offers a variety of opportunities and solutions for you to manage your money and reach your financial goals.
Vision
“Economic Justice for ALL” is our ultimate Vision for our community.
We believe every individual deserves equal access to opportunity to be financially resilient and successful. We want to get to a place where our members aren’t just surviving, but have the opportunity to thrive.
Core Values
People and Community
At our core, we care for our members, our community, and each other. We look
for opportunities to offer financial services that meet people where they are physically.
Empowerment
We champion our members by providing them with information and the tools they need to
achieve
success and a sense of control in their financial life. We commit to providing an
environment of
appreciation, support and motivation. We encourage employees to take initiative and
responsibility
towards achieving their individual and organizational goals.
Inclusion
We recognize the strength of our diversity, and value unique contributions of all members,
staff and community partners in an atmosphere of acceptance, value, and respect.
Empathy
We continually strive to understand the perspective of members and staff by actively and
respectfully listening without judgement. We meet members where they are at on their
financial
journey.
Trust
Trust is foundational to all of our relationships, with members, staff and community. We
build trust through honesty, open communication and transparency. We commit to providing
secure systems and high-quality personalized service day in and day out.
History
For over 90 years, Express Credit Union has served the financial needs of everyday people in Washington State. Founded in the same year that credit unions were established by Federal law, Express CU has helped generations of members build stronger financial futures for themselves and their families.
1934
King Street Terminal Credit Union founded with 7 members.
2001
King Street Terminal Credit Union is renamed Express Credit Union.
2008
Medina Foundation releases a study which identifies lack of access and high priced
financial services as major barriers to financial security and asset growth. Medina
determines that supporting an existing credit union is the best strategy to fulfill
the new mission.
2008
Express Credit Union wins WA State Department of Credit Unions and federal NCUA approval
for the new mission of providing widely accessible accounts and fairly priced services
and loans. Eligible membership is expanded to include all residents of Washington State.
2009
2,000 members, $5 million loans and $9 million total assets at year end.
2010
Express receives Low Income Credit Union (LICU) and Community Development Financial
Institution
(CDFI) designations to access grant funding and other resources.
2011-2012
Express receives first CDFI grant award, helping build capacity and create unique products
and solutions to compete against pay day lenders and check cashing services.
2017
3,100 members, $10.6 million loans and $12.1 million total assets at year end.
2020
Express builds up its loan loss reserve, allowing for more lending to more members in need.
2022
Express has funded $2.8 million in small dollar emergency loans (4,638 loans total) since
the inception of our Member Advance Loan, previously known as our Payday Alternative Loan.
These loans save recipients from predatory lenders.
The economic impacts of the pandemic are also affecting the community during this time.
Express begins member research to ensure their products and services remain as relevant
and helpful as possible.
2023
ERP Grant received - think big for the future.
On June 30th of this year, Express had 3,358 members, a $18.6 million loan balance, and
$21.5 million in assets. Learn more about our positive impact on
our community.
Board of Directors
Board Chair
Sarah Slonsky
Directors
Aaron Bresko
Matt Draper
Joan Geraghty
Vaughnetta J. Barton
Angela Lowe
Leadership
Paul Baudin, CEO
Kristi Rydman, Chief Operations Officer
Elizabeth Escobar, Chief Business Officer
Nicholas Tilley, Consumer Loan Manager
