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Overview / Commentary
216-367-8000
5681 Smith Rd
Brook Park, OH 44142

Best Reward Credit Union is headquartered in Brook Park and is the 48th largest credit union in the state of Ohio. It is also the 1,287th largest credit union in the nation. It was established in 1949 and as of December of 2013, it had grown to 30 employees and 15,740 members. Best Reward Credit Union has a A health rating.

Field of Membership Restrictions

Must live, work, worship or attend school in Cuyahoga, Lake, Medina, Summit, Geauga, Lorain or Portage County. Also open to employees or retirees of Select Employee Groups. - See Details

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Health

Data for Q4 2013

Institution Health

A

Texas Ratio

GRADE:
A

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 Best Reward Credit Union had $2.17 million in non-current loans and owned real-estate with $20.65 million in equity and loan loss allowances on hand to cover it. This gives Best Reward Credit Union a Texas Ratio of 10.49% which is excellent. Any bank with a Texas Ratio near or greater than 100% is considered at risk.

Texas Ratio Trend

GRADE:
C-

The Texas Ratio for Best Reward Credit Union increased slightly from 5.19% as of December 31, 2012 to 10.49% as of December 31, 2013, resulting in a negative change of 102.17%. This indicates that the balance sheet and financial strength for Best Reward Credit Union has declined slightly in recent periods.

Deposit Growth

GRADE:
A+

In the past year, Best Reward Credit Union has increased its total deposits by $28.96 million, resulting in 38.21% 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 Best Reward 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. Best Reward Credit Union has $124.58 million in assets with $20.65 million in equity, resulting in a capitalization level of 16.58%, which is excellent.

Institution Statistics

Overall
NCUA #68539
Year Chartered1949
Employees30
Primary Regulator
Assets and Liabilities
Assets$124.58 million
Loans$40.47 million
Deposits$104.75 million
Equity Capital$19.45 million
Loan Loss Allowance$1.20 million
Unbacked Noncurrent Loans$1.97 million
Real Estate Owned$195,000
Historic Data - December 2012
Assets$95.51 million
Equity Capital$19.31 million
Loan Loss Allowance$345,000
Unbacked Noncurrent Loans$1.97 million
Real Estate Owned$0
Profit Margin - Quarterly
Net Interest Margin4.75%
Return on Assets0.13%
Return on Equity0.81%
Interest Income$2.87 million
Rates
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Best Reward Credit Union Savings Account Rates

DetailsAPYMINMAXPRODUCT
0.12%$100-IRA Account
0.12%$100-Roth IRA Account
0.12%$100-CESA Account
0.10%--Nickel's Small Change Savings Account
0.10%--My Money Account
0.10%--CU Succeed® Account
0.05%$100-Christmas Club Account
0.05%$100-Travel Club Account
0.01%$100-Regular Share Savings Account
0.01%$100-Special Savings Account

Best Reward Credit Union Money Market Rates

DetailsAPYMINMAXPRODUCT
0.07%$2,500-Money Market Account

Best Reward Credit Union CD Rates

DetailsAPYMINMAXPRODUCT
0.90%$1k-48 Month Share Certificate
0.90%$500-48 Month Youth Share Certificate
0.70%$1k-36 Month Share Certificate
0.70%$500-36 Month Youth Share Certificate
0.45%$1k-24 Month Share Certificate
0.45%$500-24 Month Youth Share Certificate
0.35%$1k-18 Month Share Certificate
0.35%$500-18 Month Youth Share Certificate
0.25%$1k-12 Month Share Certificate
0.25%$500-12 Month Youth Share Certificate
0.20%$1k-9 Month Share Certificate
0.20%$500-9 Month Youth Share Certificate
0.15%$1k-6 Month Share Certificate
0.15%$500-6 Month Youth Share Certificate

Best Reward Credit Union IRA Rates

DetailsAPYMINMAXPRODUCT
0.90%$1k-48 Month IRA Certificate (Traditional,Roth,CESA)
0.70%$1k-36 Month IRA Certificate (Traditional,Roth,CESA)
0.45%$1k-24 Month IRA Certificate (Traditional,Roth,CESA)
0.35%$1k-18 Month IRA Certificate (Traditional,Roth,CESA)
0.25%$1k-12 Month IRA Certificate (Traditional,Roth,CESA)
0.20%$1k-9 Month IRA Certificate (Traditional,Roth,CESA)
0.15%$1k-6 Month IRA Certificate (Traditional,Roth,CESA)
Locations


Best Reward Credit Union Locations
Branch Office21375 Alexander RdWalton Hills, OH 44146
Branch Office5681 Smith RdBrook Park, OH 44142