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Overview / Commentary
254-752-2797
605 S University Parks Dr
Waco, TX 76706

1St University Credit Union is headquartered in Waco and is the 325th largest credit union in the state of Texas. It is also the 4,238th largest credit union in the nation. It was established in 1956 and as of December of 2013, it had grown to 6 employees and 2,100 members. 1St University Credit Union's money market rates are 14% higher than the national average, and it has a C+ health rating.

Field of Membership Restrictions

An association with Baylor University provides you with the opportunity to become a member of 1st University Credit Union. Membership allows you and your family to take advantage of the many services 1st University offers. Associations listed below are eligible to join 1st University Credit Union: Baylor University Students; Baylor University Employees; Baylor Alumni Association Members; Baylor University AFROTC; Follet Employees; Crothall Morrison Employees; Waco Construction Employees; Aramark Employees; Anyone working or residing on Baylor owned property; Any relative of a current 1st University Credit Union member; Any person living, working, or volunteering within the geographic field of membership. - See Details

Reviews (1)

Very Disorganized; Too Many Fees

We joined this credit union when we first moved to Waco.  They've always been a little slow, and a little disorganized, but they were friendly.  When we were buying a house a year ago, we went to them first for our mortgage, thinking it would be best do deal with someone local and who we already knew.  It took them forever to get anything done.  They lost our paperwork twice.  They couldn't even manage to make copies of our documents in less than three days.  It was impossible to make contact with anyone by phone, and if you go in (even if you have an appointment), you'll end up waiting a minimum of 20 minutes.  In the end, their rates were higher, the amount was lower, and we'd just plain lost a ton of confidence in their ability to get anything done.  We did not use them for our mortgage.  Now, they've added fees for everything in their checking accounts, a minimum balance and even less service.  It's a shame, because the tellers there are nice, friendly people.  But the level of service is poor and we're tired of being nickled and dimed to death.  So, we're off to a big bank!  



Health

Data for Q4 2013

Institution Health

C+
Additional Factors: Institutions with a small asset base or a short operating history can represent an instability risk beyond what their financial ratios indicate. 1St University Credit Union has a low asset base.

Texas Ratio

GRADE:
A+

The Texas Ratio is an indicator of how much funds a bank has available compared to the total value of loans considered at risk. As of December 31, 2013 1St University Credit Union had $29,000 in non-current loans and owned real-estate with $887,000 in equity and loan loss allowances on hand to cover it. This gives 1St University Credit Union a Texas Ratio of 3.27% which is excellent. Any bank with a Texas Ratio near or greater than 100% is considered at risk.

Texas Ratio Trend

GRADE:
A+

The Texas Ratio for 1St University Credit Union decreased dramatically from 22.83% as of December 31, 2012 to 3.27% as of December 31, 2013, resulting in a positive change of 85.68%.This indicates that the balance sheet and financial strength for 1St University Credit Union has improved dramatically in recent periods.

Deposit Growth

GRADE:
C+

In the past year, 1St University Credit Union has decreased its total deposits by $-63,000, resulting in -0.57% growth for the year. A strong track record of growth is an indicator of consumer confidence and the bank's ability to strengthen its balance sheet. The growth 1St University Credit Union has shown is average.

Capitalization

GRADE:
C-

Both FDIC and NCUA consider capitalization levels of banks and credit unions to be of high importance. Higher capitalization allows for a greater buffer when cover loans that may fail in the future. 1St University Credit Union has $11.93 million in assets with $887,000 in equity, resulting in a capitalization level of 7.43%, which is below average.

Institution Statistics

Overall
NCUA #67483
Year Chartered1956
Employees6
Primary Regulator
Assets and Liabilities
Assets$11.93 million
Loans$8.34 million
Deposits$10.95 million
Equity Capital$850,000
Loan Loss Allowance$37,000
Unbacked Noncurrent Loans$29,000
Real Estate Owned$0
Historic Data - December 2012
Assets$12.16 million
Equity Capital$852,000
Loan Loss Allowance$37,000
Unbacked Noncurrent Loans$29,000
Real Estate Owned$52,000
Profit Margin - Quarterly
Net Interest Margin6.31%
Return on Assets-0.01%
Return on Equity-0.12%
Interest Income$538,000
Rates
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1St University Credit Union Savings Account Rates

DetailsAPYMINMAXPRODUCT
0.10%$5k-Basic Share
0.10%$5k-Basic IRA Savings
0.10%$5k-Basic Roth IRA Savings
0.10%$5k-Basic Coverdell Education Savings

1St University Credit Union Money Market Rates

DetailsAPYMINMAXPRODUCT
0.50%$40k-Money Market Fund

1St University Credit Union CD Rates

DetailsAPYMINMAXPRODUCT
0.50%$50k-36 Month Jumbo CD
0.50%$10k-36 Month CD
0.35%$50k-6 Month Jumbo CD
0.35%$10k-12 Month CD
0.35%$10k-18 Month CD
0.35%$10k-24 Month CD
0.25%$50k-24 Month Jumbo CD
0.25%$10k-6 Month CD
0.10%$50k-12 Month Jumbo CD

1St University Credit Union IRA Rates

DetailsAPYMINMAXPRODUCT
0.50%$10k-36 Month IRA (Traditional,Roth,CESA)
0.35%$10k-12 Month IRA (Traditional,Roth,CESA)
0.35%$10k-18 Month IRA (Traditional,Roth,CESA)
0.35%$10k-24 Month IRA (Traditional,Roth,CESA)
0.25%$10k-6 Month IRA (Traditional,Roth,CESA)
Locations


1St University Credit Union Locations
Branch Office605 S University Parks DrWaco, TX 76706