Alaska USA Credit Union is headquartered in Anchorage and is the largest credit union in the state of Alaska. It is also the 17st largest credit union in the nation. It was established in 1948 and as of December of 2013, it had grown to 1,708 employees and 491,201 members. Alaska USA Credit Union has a B health rating.
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Warning - never use Alaska USA Federal Credit Union. I accidentally dropped the cents off our car payment (29 cents to be exact) and they called my loan "delinquent" and charged a late fee. I called them, and they were unmoving. They said the amount late doesn't matter, if the whole payment isn't received the due date doesn't advance. Very unethical behavior. My husband and I are getting out of doing business with them as soon as possible.
I had lost my job and out of work 18 months. Kept my payments up till the last 3 months of my unemployment. The special credits people were absolutely horrid to work with. I had an unsecured loan, credit card and a vehicle loan with them. The vehicle loan went 30 days late and they repossessed it. When I tried to pay the vehicle off they tied the other two loans to it and wanted pay off for all three or I couldn't get the vehicle back.
If you are looking for a reputable credit union this is not the place to bank. They forget whose money is in your account. They treat the members like criminals when you try and work things out when you are late. They report false items on your credit report. Don't walk away from this credit union, run like your life depends upon it.
I tried to open and account at two different branches (Victorville and Apple Valley), only to walk out of both of them. This place has no one there to open a new account. First I went to the Victorville office, which had a line of 15 to 20 people (it's a small branch) with only what looked like 2 tellers. No one to talk to, to open an account.
So, I thougth the larger branch in Apple Valley would be better. Boy was I wrong. The line was at least 30, if not 40 people long, with it looked like again, only 2 tellers. This branch has a kios to talk to someone, so I entered my information. I was helped in about 5 minutes, so no ocmplaints there. Except, I was instructed to go stand in line to talk to a teller to open an account. I told her that I wasn't interested in standing in line for 40+ minutes just to open an account. Especially, when I can open an account anywhere else and they have someone to handle new accounts (since, it's true).
She even admitted, that they where short tellers. This is a poorly managed credit union and the first one I've ever been to that does not have someone for handling accounts. Alaska needs to temporarily increase there staff (even banks know this) to hanlde the days you where closed after a major holiday.
Mind you that I'm not a fan of banks at all (epsecially, since they received bail-out money). but I went to 3 other banks that day. All of them had at least 4 tellers, a line of no more then 5 people and at least one person to talk to for handling accounts.
AlaskaUSA is a horrible bank, the staff are rude, unhelpful, and the bank itself engages in highly questionable acts as an institution.
I had been a member since 1996 and left in mid-2012 after spending 5 years of my adult life putting up with runaround BS. Here's a rough breakdown:
1) MORTGAGE LOANS: I bought a condo in 2009, following a divorce, we found out that AKUSA had sold the mortgage loan to Bank of America, who promptly proceeded to lose 3 payments, putting us on the verge of foreclosure. We never received a notification of the sale, or any notification we somehow ended up months behind. We contacted AKUSA to correct the problem (because we'd paid the mortgage through AKUSA online bill pay and thought they owned it still) and their reply was a collective "Not our problem, we sold it, call BoA".
I eventually filed a complaint with the BBB about the conduct of the mortgage, and they finally disclosed the sale to us, but never helped correct the problem.
2) AUTO LOANS: My ex-wife bought a car, and took it over after the divorce. She missed a payment, and with no warning, the bank deducted $260 from my account, which had already been sent out in checks from their online Bill Pay service, creating overdraft fees in the amount of almost $100 (5 checks @ $20 a pop). I called them and they said my name was on the account that opened the loan (because she inherited our joint-checking, I kept my private checking) so I was responsible. Nevermind my name was NOT ON THE LOAN ITSELF, nor on the car. I informed them I was divorced and it must be a clerical oversight, they told me again "Not our problem".
I've since contacted a lawyer about the incident, and am in the process of filing a lawsuit against the bank for violating banking law.
I cannot stress enough not to join this bank. It promises the world but delivers nothing but hell to those that buy into their lies.
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 Alaska USA Credit Union had $61.94 million in non-current loans and owned real-estate with $401.76 million in equity and loan loss allowances on hand to cover it. This gives Alaska USA Credit Union a Texas Ratio of 15.42% which is above average. Any bank with a Texas Ratio near or greater than 100% is considered at risk.
The Texas Ratio for Alaska USA Credit Union experienced no significant changes from 15.26% as of December 31, 2012 to 15.42% as of December 31, 2013, resulting in a negative change of 1.00%. This indicates that the balance sheet and financial strength for Alaska USA Credit Union has had no significant changes in recent periods.
In the past year, Alaska USA Credit Union has increased its total deposits by $224.67 million, resulting in 4.73% 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 Alaska USA Credit Union has shown is excellent.
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. Alaska USA Credit Union has $5.41 billion in assets with $401.76 million in equity, resulting in a capitalization level of 7.42%, which is below average.
|Assets and Liabilities|
|Equity Capital||$362.53 million|
|Loan Loss Allowance||$39.23 million|
|Unbacked Noncurrent Loans||$51.81 million|
|Real Estate Owned||$10.12 million|
|Historic Data - December 2012|
|Equity Capital||$331.95 million|
|Loan Loss Allowance||$42.13 million|
|Unbacked Noncurrent Loans||$51.81 million|
|Real Estate Owned||$14.61 million|
|Profit Margin - Quarterly|
|Net Interest Margin||4.69%|
|Return on Assets||0.78%|
|Return on Equity||11.6%|
|Interest Income||$201.97 million|
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|0.20%||$10k||-||Business Premium Savings|
|0.15%||$50k||-||Health Savings Account|
|0.10%||$50||-||Business Share Savings|
|0.35%||$100k||-||Jumbo Money Market|
|0.35%||$100k||-||Business Jumbo Money Market|
|0.25%||$25k||-||Super Money Market|
|0.25%||$25k||-||Business Super Money Market|
|0.15%||$2,500||-||Business Money Market|
|1.30%||$100k||-||60 Month Certificate|
|1.20%||$100k||-||48 - 59 Month Certificate|
|1.10%||$100k||-||36 - 47 Month Certificate|
|1.10%||$100k||-||60 Month Business Certificate|
|1.00%||$100k||-||24 - 35 Month Certificate|
|1.00%||$100k||-||48 - 59 Month Business Certificate|
|0.90%||$100k||-||18 - 23 Month Certificate|
|0.90%||$100k||-||36 - 47 Month Business Certificate|
|0.80%||$100k||-||24 - 35 Month Business Certificate|
|0.75%||$500||-||12 - 17 Month Certificate|
|0.70%||$100k||-||18 - 23 Month Business Certificate|
|0.55%||$500||-||12 - 17 Month Business Certificate|
|0.45%||$500||-||9 - 11 Month Certificate|
|0.45%||$500||-||9 - 11 Month Business Certificate|
|0.35%||$500||-||6 - 8 Month Certificate|
|0.35%||$500||-||6 - 8 Month Business Certificate|
|0.25%||$500||-||3 - 5 Month Certificate|
|0.25%||$500||-||3 - 5 Month Business Certificate|
|0.15%||$500||-||1 - 2 Month Certificate|
|0.15%||$500||-||1 - 2 Month Business Certificate|
|1.30%||$100k||-||60 Month Tax-Deferred IRA Certificate (Traditional,Roth)|
|1.20%||$100k||-||48 - 59 Month Tax-Deferred IRA Certificate (Traditional,Roth)|
|1.10%||$100k||-||36 - 47 Month Tax-Deferred IRA Certificate (Traditional,Roth)|
|1.00%||$100k||-||24 - 35 Month Tax-Deferred IRA Certificate (Traditional,Roth)|
|0.90%||$100k||-||18 - 23 Month Tax-Deferred IRA Certificate (Traditional,Roth)|
|0.75%||$500||-||12 - 17 Month Tax-Deferred IRA Certificate (Traditional,Roth)|
|0.45%||$500||-||9 - 11 Month Tax-Deferred IRA Certificate (Traditional,Roth)|
|0.35%||$500||-||6 - 8 Month Tax-Deferred IRA Certificate (Traditional,Roth)|
|0.25%||$500||-||3 - 5 Month Tax-Deferred IRA Certificate (Traditional,Roth)|
|0.15%||$500||-||1 - 2 Month Tax-Deferred IRA Certificate (Traditional,Roth)|