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

Class Act Federal Credit Union

Class Act Federal Credit Union Locations
3620 Fern Valley Road
Louisville, KY 40219
(502) 964-7575
www.classact.org

Class Act Federal Credit Union is headquartered in LOUISVILLE and is the 10st largest credit union in the state of Kentucky. It is also the 1,028th largest credit union in the nation. It was established in 1954 and as of September of 2011, it had grown to 43 employees and 18,346 members. Class Act Federal Credit Union has a 5-star health rating.

Related Posts

Class Act FCU Honors Checking Will Drop Rate... (Forum) - 9/10/2011

from (4%, $25K) to (3%, $20K) on 1 October 2011.  At least they are good to show the pending rate change at their website; not like many others, who do the rate drop secretly, silently, and retroactively.

New Reward Checking Requirement: $200/Mo In Debit Card Purchases (Forum) - 6/25/2010

Class Act Federal Credit Union in Louisville, Kentucky has notified its members that effective August 1st, reward checking members will have to make $200 per month in total debit card purchases in order to qualify for the top rate (currently 4% APY on bal



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

Class Act Federal Credit Union Checking Account Rates

ApyMinMaxProduct
3.00%-$20kHonors Checking

Class Act Federal Credit Union Savings Account Rates

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0.15%$2,500-Regular Share Savings
0.15%--IRA Accumulation
0.05%--Summer Savings - Check
0.05%--Christmas Club
0.05%--Summer Savings - Transfer

Class Act Federal Credit Union Money Market Rates

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0.35%$25k-Money Market Account

Class Act Federal Credit Union CD Rates

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1.50%$1k-48 Month Share Certificate
1.40%$1k-36 Month Share Certificate
1.30%$1k-30 Month Share Certificate
1.20%$1k-24 Month Share Certificate
0.80%$1k-18 Month Share Certificate
0.60%$1k-1 Year Share Certificate
0.40%$500-6 Month Share Certificate
0.30%$500-91 Day Share Certificate

Class Act Federal Credit Union IRA Rates

ApyMinMaxProduct
1.50%$1k-48 Month IRA Share Certificate
1.40%$1k-36 Month IRA Share Certificate
1.30%$1k-30 Month IRA Share Certificate
1.20%$1k-24 Month IRA Share Certificate
0.80%$1k-18 Month IRA Share Certificate
0.60%$1k-12 Month IRA Share Certificate
0.40%$1k-6 Month IRA Share Certificate

Rates updated: 2/11/2012

Data for Q3 2011


Institution Statistics


CLASS ACT
NCUA #9106
BankRate ReportView
Year Established1954
Employees43
Primary Regulator

Assets and Liabilities

Assets$155.75 million
Loans$68.17 million
Deposits$138.01 million
Equity Capital$16.30 million
Loan Loss Allowance$427,000
Unbacked Noncurrent Loans$565,000

Historic Data - September 2010

Assets$144.09 million
Equity Capital$15.92 million
Loan Loss Allowance$457,000
Unbacked Noncurrent Loans$537,000
Real Estate Owned$132,000

Profit Margin - Quarterly

Net Interest Margin4.06%
Return on Assets0.16%
Return on Equity1.55%
Interest Income$3.93 million
Non-Interest Income$2.25 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 September 30, 2011 Class Act Federal Credit Union had $565,000 in non-current loans and owned real-estate with $16.72 million in equity and loan loss allowances on hand to cover it. This gives Class Act Federal Credit Union a Texas Ratio of 3.38% which is excellent. Any bank with a Texas Ratio near or greater than 100% is considered at risk.
Texas Ratio Trend4
The Texas Ratio for Class Act Federal Credit Union decreased slightly from 4.09% as of September 30, 2010 to 3.38% as of September 30, 2011, resulting in a positive change of 17.32%.This indicates that the balance sheet and financial strength for Class Act Federal Credit Union has improved slightly in recent periods.
Deposit Growth5
In the past year, Class Act Federal Credit Union has increased its total deposits by $13.62 million, resulting in 10.95% 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 Class Act Federal Credit Union has shown is excellent.
Capitalization4
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. Class Act Federal Credit Union has $155.75 million in assets with $16.72 million in equity, resulting in a capitalization level of 10.74%, which is above average.
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I Love Class Act FCU
5 stars - PatCurran - Monday, April 18, 2011 - 10:09 AM

My credit  union has been a real blessing to me and has saved me a lot of money over the years.  I always shop around for loan rates when buying a car or whatever and Class Act has almost always had the very best rates.  Their Honors Checking account is stupid good.  I don't know how they can do it but I get paid 4.0% on my checking account balance and they refund my ATM fees regardless of which bank ATM I use (up to $25 per month).  They don't have as many branches as a major bank but they and other credit unions cooperate with shared branches which are everywhere so convenience really hasn't been an issue.  The bottom line is I save on loans and get paid on my checking.  I couldn't be happier. 

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