Babbitt Steelworkers Credit Union

Babbitt Steelworkers Credit Union is headquartered in BABBITT and is the 82^nd largest credit union in the state of Minnesota. It is also the 4,022^nd largest credit union in the nation. It was established in 1960 and as of December of 2011, it had grown to 7 employees and 2,237 members. Babbitt Steelworkers Credit Union's savings rates are 44% higher than the national average, and it has a 4-star health rating.

Babbitt Steelworkers Credit Union Savings Account Rates

Data for Q4 2011

Institution Statistics BABBITT STEELWORKERS NCUA # 60227 BankRate Report View Year Chartered 1960 Employees 7 Primary Regulator Assets and Liabilities Assets $14.66 million Loans $3.68 million Deposits $12.68 million Equity Capital $1.97 million Loan Loss Allowance $500,000 Unbacked Noncurrent Loans $297,000 Historic Data - December 2010 Assets $15.40 million Equity Capital $2.15 million Loan Loss Allowance $500,000 Unbacked Noncurrent Loans $390,000 Profit Margin - Quarterly Net Interest Margin 9.93% Return on Assets -1.19% Return on Equity -8.83% Interest Income $636,000 Non-Interest Income $84,000

Institution Health Overall Score: 4 out of 5 Texas Ratio 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 Babbitt Steelworkers Credit Union had $297,000 in non-current loans and owned real-estate with $2.47 million in equity and loan loss allowances on hand to cover it. This gives Babbitt Steelworkers Credit Union a Texas Ratio of 12.02% which is above average. Any bank with a Texas Ratio near or greater than 100% is considered at risk. Texas Ratio Trend The Texas Ratio for Babbitt Steelworkers Credit Union decreased slightly from 14.74% as of December 31, 2010 to 12.02% as of December 31, 2011, resulting in a positive change of 18.45%.This indicates that the balance sheet and financial strength for Babbitt Steelworkers Credit Union has improved slightly in recent periods. Deposit Growth In the past year, Babbitt Steelworkers Credit Union has decreased its total deposits by $-552,000, resulting in -4.17% 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 Babbitt Steelworkers Credit Union has shown is below average. Capitalization 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. Babbitt Steelworkers Credit Union has $14.66 million in assets with $2.47 million in equity, resulting in a capitalization level of 16.86%, which is excellent.

No reviews have been left for this bank yet. Be the first to review.