Carolina Cooperative Credit Union
Carolina Cooperative Credit Union is headquartered in Charlotte and is the 39th largest credit union in the state of North Carolina. It is also the 2,572nd largest credit union in the nation. It was established in 1962 and as of December of 2013, it had grown to 22 employees and 9,971 members. Carolina Cooperative Credit Union has a C+ health rating.
Field of Membership Restrictions
Must be an employee of one of Carolina Cooperative Federal Credit Union's several Select Employee Groups (SEGs). Also open to those who live, work, worship or attend school in Gaston County. - See Details
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Data for Q4 2013
Institution Health
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, 2013 Carolina Cooperative Credit Union had $994,000 in non-current loans and owned real-estate with $4.7 million in equity and loan loss allowances on hand to cover it. This gives Carolina Cooperative Credit Union a Texas Ratio of 21.14% 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 Carolina Cooperative Credit Union decreased dramatically from 46.53% as of December 31, 2012 to 21.14% as of December 31, 2013, resulting in a positive change of 54.56%.This indicates that the balance sheet and financial strength for Carolina Cooperative Credit Union has improved dramatically in recent periods.
Deposit Growth
In the past year, Carolina Cooperative Credit Union has decreased its total deposits by -$1.6 million, resulting in -4.32% 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 Carolina Cooperative 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. Carolina Cooperative Credit Union has $39.72 million in assets with $4.7 million in equity, resulting in a capitalization level of 11.83%, which is excellent.
Institution Statistics
| Overall | |
|---|---|
| NCUA # | 24801 |
| Year Chartered | 1962 |
| Employees | 22 |
| Primary Regulator |
| Assets and Liabilities | |
|---|---|
| Assets | $39.73 million |
| Loans | $28.20 million |
| Deposits | $35.53 million |
| Equity Capital | $4.00 million |
| Loan Loss Allowance | $698,000 |
| Unbacked Noncurrent Loans | $694,000 |
| Real Estate Owned | $300,000 |
| Historic Data - December 2012 | |
|---|---|
| Assets | $41.66 million |
| Equity Capital | $4.23 million |
| Loan Loss Allowance | $378,000 |
| Unbacked Noncurrent Loans | $694,000 |
| Real Estate Owned | $204,000 |
| Profit Margin - Quarterly | |
|---|---|
| Net Interest Margin | 6.65% |
| Return on Assets | -0.12% |
| Return on Equity | -1.2% |
| Interest Income | $2.28 million |
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Carolina Cooperative Credit Union Savings Account Rates
| Details | APY | MIN | MAX | PRODUCT |
|---|---|---|---|---|
| 0.35% | - | - | IRA Accumulation | |
| 0.35% | - | - | Roth IRA Accumulation | |
| 0.35% | - | - | Education IRA Accumulation | |
| 0.30% | $100 | - | Holiday Club | |
| 0.30% | $100 | - | Vacation Club Savings | |
| 0.15% | $100 | - | Share Account |
Carolina Cooperative Credit Union Money Market Rates
| Details | APY | MIN | MAX | PRODUCT |
|---|---|---|---|---|
| 0.20% | $250 | - | Daily Money Market Account |
Carolina Cooperative Credit Union Checking Account Rates
| Details | APY | MIN | MAX | PRODUCT |
|---|---|---|---|---|
| 0.50% | - | $25k | E-Checking Account |
Carolina Cooperative Credit Union CD Rates
| Details | APY | MIN | MAX | PRODUCT |
|---|---|---|---|---|
| 1.35% | $500 | - | 60 Month Term Certificate | |
| 1.25% | $500 | - | 48 Month Term Certificate | |
| 0.90% | $500 | - | 36 Month Term Certificate | |
| 0.75% | $500 | - | 30 Month Term Certificate | |
| 0.65% | $500 | - | 24 Month Term Certificate | |
| 0.55% | $500 | - | 18 Month Term Certificate | |
| 0.40% | $500 | - | 12 Month Term Certificate | |
| 0.25% | $500 | - | 6 Month Term Certificate |
Carolina Cooperative Credit Union IRA Rates
| Details | APY | MIN | MAX | PRODUCT |
|---|---|---|---|---|
| 1.35% | $500 | - | 60 Month IRA Certificate (Traditional,Roth,CESA) | |
| 1.25% | $500 | - | 48 Month IRA Certificate (Traditional,Roth,CESA) | |
| 0.90% | $500 | - | 36 Month IRA Certificate (Traditional,Roth,CESA) | |
| 0.75% | $500 | - | 30 Month IRA Certificate (Traditional,Roth,CESA) | |
| 0.65% | $500 | - | 24 Month IRA Certificate (Traditional,Roth,CESA) | |
| 0.55% | $500 | - | 18 Month IRA Certificate (Traditional,Roth,CESA) | |
| 0.40% | $500 | - | 12 Month IRA Certificate (Traditional,Roth,CESA) | |
| 0.25% | $500 | - | 6 Month IRA Certificate (Traditional,Roth,CESA) |
| Carolina Cooperative Credit Union Locations | ||
|---|---|---|
| Branch Office | 2110 Crown Centre Dr | Charlotte, NC 28227 |
| Branch Office | 2515 W Roosevelt Blvd Ste A | Monroe, NC 28110 |
| Branch Office | 1207 Bessemer City Rd | Gastonia, NC 28052 |
| Branch Office | 6502 McMahan Dr | Charlotte, NC 28226 |
| Branch Office | 1439 E Franklin Blvd | Gastonia, NC 28054 |