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Carolina Cooperative Credit Union

Overview / Commentary
704-543-8901
6502 McMahon Drive
Charlotte, NC 28226

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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Health

Data for Q4 2013

Institution Health

C+
Additional Factors: Institutions with a small asset base or a short operating history can represent an instability risk beyond what their financial ratios indicate. Carolina Cooperative Credit Union has a low asset base.

Texas Ratio

GRADE:
B

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

GRADE:
A+

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

GRADE:
C-

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

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. 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 Chartered1962
Employees22
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 Margin6.65%
Return on Assets-0.12%
Return on Equity-1.2%
Interest Income$2.28 million
Rates

Always verify rates and promotions with the bank or credit union. We are not Carolina Cooperative Credit Union, we are a rate comparison website and can not provide official rates or promotions.

Carolina Cooperative Credit Union Savings Account Rates

DetailsAPYMINMAXPRODUCT
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

DetailsAPYMINMAXPRODUCT
0.20%$250-Daily Money Market Account

Carolina Cooperative Credit Union Checking Account Rates

DetailsAPYMINMAXPRODUCT
0.50%-$25kE-Checking Account

Carolina Cooperative Credit Union CD Rates

DetailsAPYMINMAXPRODUCT
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

DetailsAPYMINMAXPRODUCT
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)
Locations


Carolina Cooperative Credit Union Locations
Branch Office2110 Crown Centre DrCharlotte, NC 28227
Branch Office2515 W Roosevelt Blvd Ste AMonroe, NC 28110
Branch Office1207 Bessemer City RdGastonia, NC 28052
Branch Office6502 McMahan DrCharlotte, NC 28226
Branch Office1439 E Franklin BlvdGastonia, NC 28054