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Overview / Commentary
800-280-2328
4205 N Prince St
Clovis, NM 88101

Cannon Credit Union is headquartered in Clovis and is the 16st largest credit union in the state of New Mexico. It is also the 2,040th largest credit union in the nation. It was established in 1952 and as of March of 2014, it had grown to 18 employees and 8,522 members. Cannon Credit Union's savings rates are 3X the national average, and it has a B+ health rating.

Field of Membership Restrictions

Must be a civilian or military personnel of the US Government who work at or is assigned to Cannon Air Force Base, Clovis, New Mexico. Also open to those who live, work or worship south of 21st Street, Clovis, New Mexico and residents who reside in Roosevelt County. - 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. Cannon Credit Union has a relatively 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 Cannon Credit Union had $301,000 in non-current loans and owned real-estate with $5.98 million in equity and loan loss allowances on hand to cover it. This gives Cannon Credit Union a Texas Ratio of 5.04% 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 Cannon Credit Union experienced no significant changes from 1.37% as of March 31, 2013 to 5.04% as of March 31, 2014, resulting in a negative change of 266.67%. This indicates that the balance sheet and financial strength for Cannon Credit Union has had no significant changes in recent periods.

Deposit Growth

GRADE:
A+

In the past year, Cannon Credit Union has increased its total deposits by $4.87 million, resulting in 9.36% 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 Cannon 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. Cannon Credit Union has $62.86 million in assets with $5.98 million in equity, resulting in a capitalization level of 9.51%, which is above average.

Institution Statistics

Overall
NCUA #7822
Year Chartered1952
Employees18
Primary Regulator
Assets and Liabilities
Assets$62.86 million
Loans$20.03 million
Deposits$56.88 million
Equity Capital$5.71 million
Loan Loss Allowance$270,000
Unbacked Noncurrent Loans$301,000
Real Estate Owned$0
Historic Data - March 2013
Assets$58.54 million
Equity Capital$6.23 million
Loan Loss Allowance$244,000
Unbacked Noncurrent Loans$301,000
Real Estate Owned$0
Profit Margin - Quarterly
Net Interest Margin1.7%
Return on Assets-1.17%
Return on Equity-12.9%
Interest Income$406,000
Rates
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Cannon Credit Union Savings Account Rates

DetailsAPYMINMAXPRODUCT
1.75%$100-Individual Retirement Account
1.75%$100-Roth Individual Retirement Account
1.75%$100-Education Individual Retirement Account
0.75%-$2,500Christmas Club Account
0.50%$10k-Share Savings Account

Cannon Credit Union Checking Account Rates

DetailsAPYMINMAXPRODUCT
0.10%$2k-MMAX Premier Draft Account

Cannon Credit Union CD Rates

DetailsAPYMINMAXPRODUCT
1.00%$1k-1 Year Share Certificate
1.00%$1k-2 Year Share Certificate
1.00%$1k-3 Year Share Certificate
1.00%$1k-5 Year Share Certificate

Cannon Credit Union IRA Rates

DetailsAPYMINMAXPRODUCT
1.75%$100-90 Day IRA Certificate
Locations


Cannon Credit Union Locations
Branch Office102 East ArgentinaCannon Air Force Base, NM 88103
Branch Office4205 N Prince StClovis, NM 88101