Kitsap Credit Union
Kitsap Credit Union is a member-owned, not-for-profit financial cooperative chartered in 1934. Originally established as Navy Yard Metal Trades Credit Union with seven members and $34 in assets, the organization has grown to serve communities across Washington State through 14-16 branches and approximately 325-330 employees. The credit union operates as a 501(c)(14) organization, providing a full range of modern banking services while maintaining its foundational commitment to member ownership and community reinvestment.
Financial Overview
From 2024 IRS Form 990-PF · View filing
Total Assets
$2.3B
-2.0% YoY
Annual Giving
$354K
-24.0% YoY
Grant Count
8
-20.0% YoY
Avg Grant Size
$44K
-5.0% YoY
Mission & Focus Areas
Kitsap Credit Union's mission is to empower members and strengthen communities through trusted, personalized financial support. The organization operates on the principle of "people helping people," reinvesting earnings back to members through lower loan rates, competitive dividends on deposit products, and low or no-cost financial services.
Through its KCUCares Foundation, established in 2019, the credit union focuses on three primary impact areas:
Hunger: Supporting organizations addressing food insecurity through partnerships with food banks and food assistance programs, including Navy-Marine Corps Relief Society, Central Kitsap Food Bank, Bremerton Foodline, ShareNet Food Bank, Helpline House, Jefferson County Foodbank, South Kitsap Helpline, North Mason Food Bank, Puyallup Food Bank, Fishline, and Greater Gig Harbor Foundation.
Housing Insecurity: Addressing homelessness and the affordable housing crisis affecting individuals and families in the region.
Financial Wellbeing: Providing financial empowerment through free financial education, credit counseling, and tools to help members build strong financial futures.
Grantmaking
Kitsap Credit Union received a $900,000 Community Development Financial Institution (CDFI) grant to support rural women-owned businesses, demonstrating the organization's commitment to targeted community development initiatives.
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Geographic Focus
Where this funder awards grants
Kitsap Credit Union serves communities across Washington State, with branch locations in Jefferson, Kitsap, Mason, and Pierce Counties. Membership eligibility is open to people who live and work in Washington State. The organization's community support extends throughout these regions and beyond.
Grant Distribution by State
Cities
Financial History
Multi-year comparison from IRS filings
As of December 2023:
- Total Revenue: $136 million
- Total Expenses: $127 million
- Total Assets: $2.37 billion
- Total Liabilities: $2.24 billion
| Metric | 2024 | 2023 | 2022 |
|---|---|---|---|
| Total Assets | $2,320,371,924 | $2,368,604,375 | $2,255,075,377 |
| Revenue | $153,721,471 | $135,974,513 | $104,047,497 |
| Expenses | $148,184,524 | $127,345,815 | $82,914,598 |
| Qualifying Distributions | — | — | — |
| Net Investment Income | $10,653,653 | $10,336,516 | $11,583,487 |
| Distributable Amount | — | — | — |
Giving Over Time
Total grant dollars and number of grants per year
Grant Insights
How this funder distributes its grants
Top Recipients
Top 8 recipients in 2024
Grant Size Distribution
97 grants across all recorded years
Giving History
Grant recipients and amounts by year
No grants recorded for .
Leadership & Key People
Leadership team and compensation from IRS filings
Shawn Gilfedder serves as President & CEO of Kitsap Credit Union.
Compensation Overview
From 2024 IRS filing
From 2024 filing
| Name | Title | Hours | Compensation |
|---|---|---|---|
| SHAWN GILFEDDER | PRESIDENT/CEO | 40 | $959,929 |
| KELLIE D LETEXIER | SVP COO | 40 | $405,436 |
| TREVOR STUART | SVP CFO | 40 | $390,960 |
| SIMON POWLEY | CHIEF REVENUE OFFICER | 40 | $379,785 |
| SCOTT LINDLEY | SVP CIO | 40 | $365,835 |
| ANTHONY G BULLERI | SVP CLO | 40 | $368,373 |
| PAULA C EDELSTEIN | SVP CPO | 40 | $338,671 |
| SEAN CUMMINGS | VP, SALES (THRU 11/24) | 40 | $328,132 |
| ERIC CRABTREE | CHIEF DIGITAL STRATEGIST | 40 | $228,453 |
| JASON ELLIOTT | VP FINANCE | 40 | $218,323 |
| ANDREW E VOORHIES | VP INFO. TECHNOLOGY (THRU 12/24) | 40 | $199,878 |
| MARK GAULT | VP STRATEGIC PLANNING | 40 | $199,012 |
| LAURA J ENQUIST | VP MEMBER EXPERIENCE | 40 | $195,965 |
| MIKE GOONEWARDENE | VICE CHAIR | 8 | $30,000 |
| SUSAN BAKER | CHAIR | 8 | $23,645 |
| WENDY JOHNSON | VICE CHAIR | 8 | $20,000 |
| JIM ROWSON | TREASURER | 8 | $20,000 |
| VICKI GAMBRELL | DIRECTOR | 8 | $20,000 |
| SUSAN SIOBHAN CANTY | DIRECTOR | 5 | $17,500 |
| KAREN HOLMES | SECRETARY | 5 | $15,000 |
| VASUMA SARGENT | DIRECTOR | 8 | $8,339 |
| MATTHEW ELLSWORTH | DIRECTOR | 8 | $8,114 |
Recent News & Activity
Recent developments and announcements
In October 2025, Kitsap Credit Union became the first credit union in Washington State to receive approval from the Department of Financial Institutions to make an equity investment under newly expanded authority (RCW 31.12.436). The organization invested in D8TAOPS, Inc., an enterprise-ready AI and data orchestration company based in Beaverton, Oregon, through a design partnership aimed at modernizing operations, increasing efficiency, and enhancing member experience through intelligent systems and real-time data tools.
Kitsap Credit Union receives $900,000 CDFI grant to support rural ...The credit union is scheduled to hold its 92nd Annual Meeting virtually on Monday, March 30th, 2026 at 6:30pm.
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Data last updated April 2026. Sourced from IRS Form 990-PF filings. Research dossier generated April 2026.
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