Central Coast Credit Union is headquartered in Seaside and is the 138th largest credit union in the state of California. It is also the 1,317st largest credit union in the nation. It was established in 1961 and as of December of 2013, it had grown to 35 employees and 10,858 members. Central Coast Credit Union has a A health rating.
Central Coast Federal Credit Union membership is open to all those who either reside, worship, attend school or work in Monterey County, California. Also eligible to join are parents of any students attending a university or college in Monterey County (whether the student is a member or not), regardless of where the parent resides. Relatives by blood or marriage of current active members or persons living in the same household of any active member or employee of the credit union are also eligible to join, regardless of where they reside. There is a one-time $5.00 membership fee to join Central Coast Federal Credit Union. In order to remain an active member, you must maintain a Prime Share Savings account with a minimum balance of $25.00. - See Details
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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 Central Coast Credit Union had $93,000 in non-current loans and owned real-estate with $11.25 million in equity and loan loss allowances on hand to cover it. This gives Central Coast Credit Union a Texas Ratio of 0.83% which is excellent. Any bank with a Texas Ratio near or greater than 100% is considered at risk.
The Texas Ratio for Central Coast Credit Union held steady from 0.71% as of December 31, 2012 to 0.83% as of December 31, 2013, resulting in a negative change of 16.54%. This indicates that the balance sheet and financial strength for Central Coast Credit Union has held steady in recent periods.
In the past year, Central Coast Credit Union has increased its total deposits by $3.97 million, resulting in 3.7% 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 Central Coast Credit Union has shown is excellent.
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. Central Coast Credit Union has $120.5 million in assets with $11.25 million in equity, resulting in a capitalization level of 9.34%, which is average.
|Assets and Liabilities|
|Equity Capital||$9.29 million|
|Loan Loss Allowance||$1.96 million|
|Unbacked Noncurrent Loans||$93,000|
|Real Estate Owned||$0|
|Historic Data - December 2012|
|Equity Capital||$10.27 million|
|Loan Loss Allowance||$2.00 million|
|Unbacked Noncurrent Loans||$93,000|
|Real Estate Owned||$55,000|
|Profit Margin - Quarterly|
|Net Interest Margin||4.53%|
|Return on Assets||0.44%|
|Return on Equity||5.66%|
|Interest Income||$3.35 million|
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|0.06%||$10k||-||Christmas Club Account|
|0.05%||$10k||-||Prime Share Account|
|0.05%||$10k||-||Sammie Savers Account|
|0.05%||$10k||-||Surf Zone Account|
|0.60%||$5k||-||36 Month Share Certificate|
|0.40%||$5k||-||24 Month Share Certificate|
|0.30%||$1k||-||12 Month Share Certificate|
|0.20%||$5k||-||7 Month Share Certificate|
|0.10%||$1k||-||3 Month Share Certificate|
|0.60%||$5k||-||36 Month IRA Certificate (Traditional,Roth,CESA,SEP)|
|0.40%||$5k||-||24 Month IRA Certificate (Traditional,Roth,CESA,SEP)|
|0.30%||$1k||-||12 Month IRA Certificate (Traditional,Roth,CESA,SEP)|
|0.20%||$5k||-||7 Month IRA Certificate (Traditional,Roth,CESA,SEP)|
|0.10%||$1k||-||3 Month IRA Certificate (Traditional,Roth,CESA,SEP)|
|Central Coast Credit Union Locations|
|Branch Office||4242 Gigling Rd||Seaside, CA 93955-6300|
|Branch Office||900 S Main St||Salinas, CA 93901|
|Branch Office||315 Gabilan Dr||Soledad, CA 93960|
|Branch Office||510R Canal St Ste R||King City, CA 93930-3446|