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Overview / Commentary
424 N Bradner Ave
Marion, IN 46952-3336

Afena Credit Union is headquartered in Marion and is the 54th largest credit union in the state of Indiana. It is also the 2,145th largest credit union in the nation. It was established in 1958 and as of March of 2014, it had grown to 26 employees and 7,494 members. Afena Credit Union's savings rates are 35% higher than the national average, and it has a B health rating.

Field of Membership Restrictions

Must live, work, or worship in Grant or Wabash County. Any immediate family member or someone living in the same household of an existing member is eligible to join. - See Details

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Reviews (1)

Afena Federal Credit Union Review

Bank clerks take all the money you put in the drive through tube and put it on your loan payment with out your permission and no not give you your change unless you request they do the transaction correctly and have them redue it.  They sigh and act like it is a bother that you are not paying more than your loan payment. They told us most people pay more. That's why they did not give me my change. Once they said it was because they car window was up. But they told me sign the the receipt and send it back. How do they do that with the window supposidly up? They suggested or the told us they will put a note on our account to only take the loan payment amount but to no avail they repeatedly do this and say the car window was up and they can not ask permission which is not true.  Both locations in Marion do this even with the note they suggested to put on the account. Good luck if you bank there.



Health

Data for Q1 2014

Institution Health

B
Additional Factors: Institutions with a small asset base or a short operating history can represent an instability risk beyond what their financial ratios indicate. Afena Credit Union has a relatively low asset base.

Texas Ratio

GRADE:
A+

The Texas Ratio is an indicator of how much capital a bank has available compared to the total value of loans considered at risk. As of March 31, 2014 Afena Credit Union had $439,000 in non-current loans and owned real-estate with $5.67 million in equity and loan loss allowances on hand to cover it. This gives Afena Credit Union a Texas Ratio of 7.72% which is excellent. Any bank with a Texas Ratio near or greater than 100% is considered at risk.

Texas Ratio Trend

GRADE:
C+

The Texas Ratio for Afena Credit Union experienced no significant changes from 6.13% as of March 31, 2013 to 7.72% as of March 31, 2014, resulting in a negative change of 25.88%. This indicates that the balance sheet and financial strength for Afena Credit Union has had no significant changes in recent periods.

Deposit Growth

GRADE:
C+

In the past year, Afena Credit Union has decreased its total deposits by $-212,000, resulting in -0.4% 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 Afena Credit Union has shown is average.

Capitalization

GRADE:
B

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. Afena Credit Union has $58 million in assets with $5.67 million in equity, resulting in a capitalization level of 9.78%, which is above average.

Institution Statistics

Overall
NCUA #12153
Year Chartered1958
Employees26
Primary Regulator
Assets and Liabilities
Assets$58.01 million
Loans$39.66 million
Deposits$52.33 million
Equity Capital$5.37 million
Loan Loss Allowance$304,000
Unbacked Noncurrent Loans$439,000
Real Estate Owned$0
Historic Data - March 2013
Assets$57.99 million
Equity Capital$4.94 million
Loan Loss Allowance$355,000
Unbacked Noncurrent Loans$439,000
Real Estate Owned$0
Profit Margin - Quarterly
Net Interest Margin1.37%
Return on Assets0.43%
Return on Equity4.62%
Interest Income$618,000
Rates
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Afena Credit Union Savings Account Rates

DetailsAPYMINMAXPRODUCT
0.70%$25k-Health Savings Account
0.15%$10k-Savings Account
0.15%$10k-Club Accounts
0.15%$10k-IRA Share

Afena Credit Union Money Market Rates

DetailsAPYMINMAXPRODUCT
0.30%$100k-Money Market

Afena Credit Union CD Rates

DetailsAPYMINMAXPRODUCT
1.51%$500-60 Months Share Certificate
1.21%$500-48 Months Share Certificate
0.85%$500-36 Months Share Certificate
0.75%$500-30 Months Share Certificate
0.55%$500-24 Months Share Certificate
0.25%$500-12 Months Share Certificate
0.25%$500-18 Months Share Certificate
0.20%$80-12 Months Payroll Certificate
0.15%$500-6 Months Share Certificate
0.05%$500-3 Months Share Certificate
Locations


Afena Credit Union Locations
Branch Office424 N Bradner AveMarion, IN 46952-3336
Branch Office1312 W 44th StMarion, IN 46953-5293