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336-774-3400
P.O. Box 26043
Winston-Salem, NC 27114

Allegacy Federal Credit Union is headquartered in Winston Salem and is the 5th largest credit union in the state of North Carolina. It is also the 200th largest credit union in the nation. It was established in 1967 and as of December of 2013, it had grown to 302 employees and 120,996 members. Allegacy Federal Credit Union has a B+ health rating.

Field of Membership Restrictions

Anyone can join Allegacy at any time. Membership base consists of eligible employees and retirees of sponsor companies, immediate family members of existing members, household residents of existing members, residents of certain communities, and members of various associations. - See Details

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Reviews (1)

Account Policies

I was not happy with my experiences with Allegacy. We had a car loan arranged through a dealership, which we paid off early. Allegacy insisted at the payoff that we invest an additional $200 to keep the account open for future use. We were not planning on borrowing any more at that time, but we followed their advice and made the deposit. We immediately ran into issues. Allegacy immediately charged us a "fee" which brought the account below $200. Three months later we got a statement charging us a "service fee" for not keeping the $200 balance in the account. I made a personal visit to the Allegacy office to get this corrected. I thought this fixed the problem.

Two years later I have closed the account. Allegacy billed me for a $5.00 dormancy fee every three months, so as of July 1, 2012 my account had shrunk to about $182. At that point I have closed the account.

I have been a member of two other credit unions for over 50 years and this is the only credit union that has charged me to keep my money. Needless to say any interest I accrued was offset by the fees charged. I would recommend that you not use Allegacy for your credit union.

cemorgan@northstate.net



Health

Data for Q4 2013

Institution Health

B+

Texas Ratio

GRADE:
B

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 Allegacy Federal Credit Union had $19.64 million in non-current loans and owned real-estate with $108.46 million in equity and loan loss allowances on hand to cover it. This gives Allegacy Federal Credit Union a Texas Ratio of 18.11% which is above average. Any bank with a Texas Ratio near or greater than 100% is considered at risk.

Texas Ratio Trend

GRADE:
A

The Texas Ratio for Allegacy Federal Credit Union decreased dramatically from 26.39% as of December 31, 2012 to 18.11% as of December 31, 2013, resulting in a positive change of 31.38%.This indicates that the balance sheet and financial strength for Allegacy Federal Credit Union has improved dramatically in recent periods.

Deposit Growth

GRADE:
A

In the past year, Allegacy Federal Credit Union has increased its total deposits by $34.85 million, resulting in 4.19% 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 Allegacy Federal Credit Union has shown is excellent.

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. Allegacy Federal Credit Union has $1.04 billion in assets with $108.46 million in equity, resulting in a capitalization level of 10.43%, which is above average.

Institution Statistics

Overall
NCUA #24438
Year Chartered1967
Employees302
Primary Regulator
Assets and Liabilities
Assets$1.04 billion
Loans$784.29 million
Deposits$866.13 million
Equity Capital$100.33 million
Loan Loss Allowance$8.12 million
Unbacked Noncurrent Loans$8.69 million
Real Estate Owned$10.95 million
Historic Data - December 2012
Assets$991.38 million
Equity Capital$94.99 million
Loan Loss Allowance$8.72 million
Unbacked Noncurrent Loans$8.69 million
Real Estate Owned$15.99 million
Profit Margin - Quarterly
Net Interest Margin4.12%
Return on Assets0.6%
Return on Equity6.25%
Interest Income$37.92 million
Rates

Always verify rates and promotions with the bank or credit union. We are not Allegacy Federal Credit Union, we are a rate comparison website and can not provide official rates or promotions.

Allegacy Federal Credit Union Savings Account Rates

DetailsAPYMINMAXPRODUCT
0.20%$10k-Health Savings Account (HSA)
0.15%--IRA
0.15%--Roth IRA
0.15%--Cloverdell Education Savings IRA
0.10%--Daily Access
0.10%$2k-Holiday Club
0.10%$2k-Vacation Club

Allegacy Federal Credit Union Money Market Rates

DetailsAPYMINMAXPRODUCT
0.35%$100k-Relationship Money Market Account

Allegacy Federal Credit Union Checking Account Rates

DetailsAPYMINMAXPRODUCT
0.80%-$25kSmartRate Checking
0.10%$10k-Allegacy Preferred Checking
0.05%--SmartRate Checking

Allegacy Federal Credit Union CD Rates

DetailsAPYMINMAXPRODUCT
1.15%$100k-5 Year Regular Certificate
0.90%$100k-3 Year Regular Certificate
0.65%$100k-2 Year Regular Certificate
0.55%$100k-18 Month Regular Certificate
0.40%$100k-12 Month Regular Certificate
0.35%$100k-9 Month Regular Certificate
0.25%$100k-6 Month Regular Certificate
0.10%--3 Month Regular Certificate

Allegacy Federal Credit Union IRA Rates

DetailsAPYMINMAXPRODUCT
1.25%$100k-5 Year IRA Certificate (Traditional,Roth,CESA)
0.99%$100k-3 Year IRA Certificate (Traditional,Roth,CESA)
0.75%$100k-2 Year IRA Certificate (Traditional,Roth,CESA)
0.65%$100k-18 Month IRA Certificate (Traditional,Roth,CESA)
0.50%$100k-12 Month IRA Certificate (Traditional,Roth,CESA)
0.45%$100k-9 Month IRA Certificate (Traditional,Roth,CESA)
0.25%$100k-6 Month IRA Certificate (Traditional,Roth,CESA)
0.10%--3 Month IRA Certificate (Traditional,Roth,CESA)
Locations

Allegacy Federal Credit Union has 22 locations. Click to view all Allegacy Federal Credit Union locations.