1 star ratingAverage User Rating:
1 star rating based on 1 review.

City Of Memphis Credit Union

City Of Memphis Credit Union Locations
2608 Avery
Memphis, TN 38112
1-877-825-3180
www.cityofmemphiscu.org

City Of Memphis Credit Union is headquartered in Memphis and is the 17st largest credit union in the state of Tennessee. It is also the 794th largest credit union in the nation. It was established in 1959 and as of December of 2011, it had grown to 57 employees and 24,974 members. City Of Memphis Credit Union's money market rates are 14% higher than the national average, and it boasts a 5-star health rating.



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See Rates for: Checking | Savings | Money Market | CD | IRA

City Of Memphis Credit Union Checking Account Rates

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0.35%$1k-Share Draft Checking Account

City Of Memphis Credit Union Savings Account Rates

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0.40%--Regular Share Passbook Savings Account
0.40%--Special Share Passbook Savings Account
0.40%--Christmas Club Account
0.40%--Accumulative IRA Account

City Of Memphis Credit Union Money Market Rates

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0.50%--Money Market Account

City Of Memphis Credit Union CD Rates

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1.41%--42 Month Share Certificate
1.16%--30 Month Share Certificate
1.01%--12 Month Share Certificate
0.85%--6 Month Share Certificate

City Of Memphis Credit Union IRA Rates

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1.41%--42 Month IRA
1.16%--30 Month IRA
1.01%--12 Month IRA
0.85%--6 Month IRA

Rates updated: 5/24/2012

Data for Q4 2011


Institution Statistics


CITY OF MEMPHIS
NCUA #60239
BankRate ReportView
Year Chartered1959
Employees57
Primary Regulator

Assets and Liabilities

Assets$227.15 million
Loans$90.61 million
Deposits$183.11 million
Equity Capital$37.33 million
Loan Loss Allowance$3.06 million
Unbacked Noncurrent Loans$658,000

Historic Data - December 2010

Assets$220.01 million
Equity Capital$35.36 million
Loan Loss Allowance$3.03 million
Unbacked Noncurrent Loans$588,000
Real Estate Owned$58,000

Profit Margin - Quarterly

Net Interest Margin7.15%
Return on Assets0.84%
Return on Equity5.12%
Interest Income$8.65 million
Non-Interest Income$3.87 million

Institution Health


Overall Score:
5 out of 5
5
Texas Ratio5
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, 2011 City Of Memphis Credit Union had $658,000 in non-current loans and owned real-estate with $40.39 million in equity and loan loss allowances on hand to cover it. This gives City Of Memphis Credit Union a Texas Ratio of 1.63% which is excellent. Any bank with a Texas Ratio near or greater than 100% is considered at risk.
Texas Ratio Trend3
The Texas Ratio for City Of Memphis Credit Union held steady from 1.68% as of December 31, 2010 to 1.63% as of December 31, 2011, resulting in a positive change of 3.20%.This indicates that the balance sheet and financial strength for City Of Memphis Credit Union has held steady in recent periods.
Deposit Growth4
In the past year, City Of Memphis Credit Union has increased its total deposits by $6.25 million, resulting in 3.53% 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 City Of Memphis Credit Union has shown is above average.
Capitalization5
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. City Of Memphis Credit Union has $227.15 million in assets with $40.39 million in equity, resulting in a capitalization level of 17.78%, which is excellent.
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DO NOT USE THEIR WHITEHAVEN LOAN DEPT.
1 stars - dotherightthing - Friday, March 9, 2012 - 12:56 PM

After more than a week of trying to buy a travel trailer and giving the " loan officer " everything she had asked for, which was part of the problem, she didnt know what she needed and added something everyday. I walked into the bank and waived to the " loan officer " and she said " come back" I told her my name she said she knew who I was and " what do you want" rudely , I said that we had talked about me picking the rv up today and was making sure eveything was ok, She said " THIS IS A PROCEDURE , WE NEED A COPPY OF THE TITLE, INSURANCE, ACCOUNT NUMBERS",  of the peson that I was buying this rv from and with whom she had spoken with three times and never asked for, then had the nerve to say that we were rude, If a person is trying to belittle you ofcoarse any person will defend themself and have the right to.  The moral of this story is... learn your job , do it in a timely manor , be curtious .....Oh and NEVER EVER EVER USE THE WHITEHAVEN BRANCH

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