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Overview / Commentary
2800 S Washington St
Grand Forks, ND 58201

Area Community Credit Union is headquartered in Grand Forks and is the 25th largest credit union in the state of North Dakota. It is also the 3,438th largest credit union in the nation. It was established in 1964 and as of March of 2014, it had grown to 6 employees and 2,543 members. Area Community Credit Union has a B+ health rating.

Field of Membership Restrictions

Must be living or working within a fifty mile radius of Grand Forks including all family members. - See Details

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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. Area Community Credit Union has a 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 Area Community Credit Union had $192,000 in non-current loans and owned real-estate with $3.12 million in equity and loan loss allowances on hand to cover it. This gives Area Community Credit Union a Texas Ratio of 6.14% which is excellent. Any bank with a Texas Ratio near or greater than 100% is considered at risk.

Texas Ratio Trend

GRADE:
B+

The Texas Ratio for Area Community Credit Union decreased slightly from 8.63% as of March 31, 2013 to 6.14% as of March 31, 2014, resulting in a positive change of 28.79%.This indicates that the balance sheet and financial strength for Area Community Credit Union has improved slightly in recent periods.

Deposit Growth

GRADE:
A

In the past year, Area Community Credit Union has increased its total deposits by $643,000, resulting in 3.59% 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 Area Community Credit Union has shown is excellent.

Capitalization

GRADE:
A+

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. Area Community Credit Union has $21.47 million in assets with $3.12 million in equity, resulting in a capitalization level of 14.55%, which is excellent.

Institution Statistics

Overall
NCUA #64294
Year Chartered1964
Employees6
Primary Regulator
Assets and Liabilities
Assets$21.47 million
Loans$11.21 million
Deposits$18.55 million
Equity Capital$2.81 million
Loan Loss Allowance$318,000
Unbacked Noncurrent Loans$187,000
Real Estate Owned$5,000
Historic Data - March 2013
Assets$20.47 million
Equity Capital$2.53 million
Loan Loss Allowance$280,000
Unbacked Noncurrent Loans$187,000
Real Estate Owned$0
Profit Margin - Quarterly
Net Interest Margin1.49%
Return on Assets1.1%
Return on Equity8.41%
Interest Income$184,000
Rates

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Locations


Area Community Credit Union Locations
Branch Office2800 S Washington StGrand Forks, ND 58201
Branch Office2800 S Washington StGrand Forks, ND 58201