2.5 star ratingAverage User Rating:
2.5 star rating based on 3 reviews.

Amplify Credit Union

Amplify Credit Union Locations
PO Box 85300
Austin, TX 78708
800.237.5087
www.goamplify.com



Amplify Credit Union is headquartered in AUSTIN and is the 27th largest credit union in the state of Texas. It is also the 347th largest credit union in the nation. It was established in 1967 and as of December of 2011, it had grown to 168 employees and 42,968 members. Amplify Credit Union has a 5-star health rating.



See Rates for: Checking | Savings | Money Market | CD | IRA

Amplify Credit Union Checking Account Rates

ApyMinMaxProduct
0.35%$50k-Amplify Business Checking
0.30%$100k-Amplified Checking Account
0.10%$25-Checking Plus

Amplify Credit Union Savings Account Rates

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0.50%$25-IRA Share
0.50%$25-CESA
0.50%$25-Roth IRA Share
0.35%$5k-Savings Account
0.35%$5k-Holiday Savings Account
0.35%$5k-Youth Savings Account
0.35%$5k-College Savings Account

Amplify Credit Union Money Market Rates

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0.50%$100k-Business Money Market Account
0.50%$200k-Money Market Advantage

Amplify Credit Union CD Rates

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1.50%$100k-60 Month Share Certificate
1.25%$100k-48 Month Share Certificate
1.25%$100k-60 Month Step-up Share Certificate
1.10%$100k-36 Month Share Certificate
1.00%$100k-24 Month Share Certificate
0.90%$100k-24 Month Step-up Share Certificate
0.40%$100k-18 Month Share Certificate
0.40%$100k-12 Month Share Certificate
0.35%$100k-9 Month Share Certificate
0.35%$100k-6 Month Share Certificate
0.20%$100k-3 Month Share Certificate
0.15%$100k-1 Month Share Certificate

Amplify Credit Union IRA Rates

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1.55%$100k-60 Month IRA
1.55%$100k-60 Month Roth IRA
1.15%$100k-30 Month IRA
1.15%$100k-30 Month Roth IRA
0.55%$500-30 Month CESA
0.45%$100k-18 Month IRA
0.45%$100k-12 Month IRA
0.45%$100k-12 Month Roth IRA
0.45%$100k-18 Month Roth IRA
0.25%$500-18 Month CESA
0.25%$500-12 Month CESA

Rates updated: 5/22/2012

Data for Q4 2011


Institution Statistics


AMPLIFY
NCUA #18304
BankRate ReportView
Year Chartered1967
Employees168
Primary Regulator

Assets and Liabilities

Assets$565.32 million
Loans$448.52 million
Deposits$489.95 million
Equity Capital$42.37 million
Loan Loss Allowance$5.17 million
Unbacked Noncurrent Loans$2.05 million
Real Estate Owned$85,000

Historic Data - December 2010

Assets$543.95 million
Equity Capital$36.39 million
Loan Loss Allowance$6.47 million
Unbacked Noncurrent Loans$5.73 million
Real Estate Owned$122,000

Profit Margin - Quarterly

Net Interest Margin4.94%
Return on Assets1.05%
Return on Equity13.98%
Interest Income$26.93 million
Non-Interest Income$7.92 million

Institution Health


Overall Score:
5 out of 5
5
Texas Ratio5
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, 2011 Amplify Credit Union had $2.13 million in non-current loans and owned real-estate with $47.53 million in equity and loan loss allowances on hand to cover it. This gives Amplify Credit Union a Texas Ratio of 4.48% which is excellent. Any bank with a Texas Ratio near or greater than 100% is considered at risk.
Texas Ratio Trend5
The Texas Ratio for Amplify Credit Union decreased significantly from 13.64% as of December 31, 2010 to 4.48% as of December 31, 2011, resulting in a positive change of 67.14%.This indicates that the balance sheet and financial strength for Amplify Credit Union has improved significantly in recent periods.
Deposit Growth4
In the past year, Amplify Credit Union has increased its total deposits by $18.02 million, resulting in 3.82% 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 Amplify Credit Union has shown is above average.
Capitalization3
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. Amplify Credit Union has $565.32 million in assets with $47.53 million in equity, resulting in a capitalization level of 8.41%, which is average.
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Staggeringly Incompetent
2 stars - iavatar - Saturday, September 17, 2011 - 11:44 AM

I've been a member since the mid 1990's, and have watched the quality of employees and service continue to deteriorate since it stopped being the IBM Employees credit union.  They never explained to us members why the changeover to "Amplify" -- we assumed it was a change in name only, but oh, how wrong that assumption turned out to be.  Calling the customer service department is a complete waste of time, for 90% of the time the CSA agent won't know how to help you, but will promise somebody's going to call you back, which of course they never do.  Visiting in person is quite dismaying.  There's only one or two of the old time employees left, the rest are a constantly changing parade of incompetent nincompoops who know nothing about banking, but they're perky and hope you have a great! day and offer you a bottle of water.  Then there's the regular emails offering "seminars" which are nothing more than attempts to sell you something -- not Amplify services, but a variety of "financial" products and services.  When did it become ok for a credit union to shill for hucksters trying to sell you something?  The actual financial advisors who used to be associated with IBMFCU have all severed their business relationships with Amplify, and who can blame them?  I am a supporter of credit unions in general, but after 16 years with this one I've come to the conclusion that Amplify is a disaster waiting to happen.

5

Stay Away Worst Credit Union Ever
1 stars - trulyclear - Friday, April 15, 2011 - 10:40 PM

MUST READ! The worst credit union ever, strike that the worst bank ever! After having a car loan with them several years and a series of events I called to pay my loan. The women who took my credit card number "hits enter twice" and runs my card for two payments. When for some reason they could not cancel one, she tells me that I have to go into my bank and stop payment! Okay do it, but yet again wasting my time. I decide to look into refinancing my 8% used car loan with university credit union, they refinance me at 3.5% NICE! But that is not it! months go by and I get a call that I owe amp one more payment, I ask why? They tell me that my last payment bounced, I tell them I have never bounced anything in my life and say I have to look into it. I pull my closing statement and it showing paid in full. I also call my credit union and ask them if I Ever bounced anything to amp. They tell me no you have never bounced a thing to them or anyone else. A few days go by and this jerk named Chris calls me and says that all I am trying to do is skip out on a payment, a small payment at that. He calls me a liar and a thief and demands payment, I tell this guy that I have a closing stament showing nothing due! He again tells me that I'm a liar and all I'm doing is trying to get out of a payment and that my last payment bounced and that I have to pay him or he is going to ruin my credit! We shared some words loudly and ask them can you guy possibly of made a mistake when I refinanced and gave university the wrong pay off amount, he says that they do not make mistakes then he accuses me of ripping them off and all I am doing is trying to skip out on a payment, I told this very rude Chris guy off and hung up on him. This credit union is not a credit union that we all love this bank is just like the big banks that calls us liars, and try to steal our hard earned money they will not help you with anything. Go to another credit union stay away form this place. Now if this Chris just simply said yes we made a mistake and gave the wrong payoff I would of paid it right then. But i am showing my last payment paid and have a stament showing ZERO DUE. As for my credit I have a statement showing the loan paid in full and closed, and the funny thing is that my new bank has the title would they of held that until the loan was paid and closed?

5

Response To Previous Review
5 stars - AmplifyCU - Thursday, April 21, 2011 - 3:36 PM

We have been working with this member toward resolution of the issue mentioned and apologize for any miscommunication or misunderstandings that may have occurred.  At Amplify we value all of our members, and we’re dedicated to providing exceptional service. We invite this member to please contact our Senior Vice President of Lending, Kendall Garrison, at 512.519.5426 or kgarrison@goamplify.com for a resolution.

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