Commonwealth Central Credit Union is headquartered in San Jose and is the 78th largest credit union in the state of California. It is also the 532nd largest credit union in the nation. It was established in 1958 and as of September of 2013, it had grown to 90 employees and 34,717 members. Commonwealth Central Credit Union has a A+ health rating.
Must live or work in Santa Clara County. - See Details
with their revamped website and killer rates, all I have to say about Commonwealth credit union is positive. I feel that I benefit greatly by dealing with a small CU as opposed to a huge national bank. B of A... so the enemy. I've been with this bank since I was literally born, and what I recall from my younger days were a bunch of special promotions and offers that made savings "cool" to kids. Now, as I pay off cars and start my first mortgage, this bank is still able to support me in all that I do. Even when I went to college in LA for 4 years, the geographical distance did not affect the quality of service I received. Great tellers, INCREDIBLE phone customer service, AND I get free checks. What could be better? I'll be with this credit union for life!
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, 2013 Commonwealth Central Credit Union had $2.45 million in non-current loans and owned real-estate with $39.95 million in equity and loan loss allowances on hand to cover it. This gives Commonwealth Central Credit Union a Texas Ratio of 6.13% which is excellent. Any bank with a Texas Ratio near or greater than 100% is considered at risk.
The Texas Ratio for Commonwealth Central Credit Union decreased slightly from 8.03% as of September 30, 2012 to 6.13% as of September 30, 2013, resulting in a positive change of 23.71%.This indicates that the balance sheet and financial strength for Commonwealth Central Credit Union has improved slightly in recent periods.
In the past year, Commonwealth Central Credit Union has increased its total deposits by $25.47 million, resulting in 7.69% 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 Commonwealth Central 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. Commonwealth Central Credit Union has $396.1 million in assets with $39.95 million in equity, resulting in a capitalization level of 10.08%, which is above average.
|Assets and Liabilities|
|Equity Capital||$36.08 million|
|Loan Loss Allowance||$3.87 million|
|Unbacked Noncurrent Loans||$2.45 million|
|Real Estate Owned||$0|
|Historic Data - September 2012|
|Equity Capital||$33.13 million|
|Loan Loss Allowance||$6.39 million|
|Unbacked Noncurrent Loans||$2.45 million|
|Real Estate Owned||$552,000|
|Profit Margin - Quarterly|
|Net Interest Margin||3.53%|
|Return on Assets||1.28%|
|Return on Equity||14.1%|
|Interest Income||$9.47 million|
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|0.10%||$100k||$250k||Wealth Management Savings|
|0.10%||$100k||$250k||Wealth Management IRA|
|0.10%||$100k||$250k||Wealth Management Roth IRA|
|0.10%||$100k||$250k||Wealth Management CESA|
|0.05%||-||-||Youth Share Account|
|0.15%||$250k||-||Money Management Account|
|1.05%||$25k||-||48 Month Share Certificate|
|0.75%||$500||-||36 Month Share Certificate|
|0.60%||$50k||-||24 Month Share Certificate|
|0.35%||$50k||-||12 Month Share Certificate|
|0.35%||$50k||-||18 Month Share Certificate|
|0.25%||$50k||-||6 Month Share Certificate|
|0.25%||$250||-||12 Month Youth Share Certificate|
|0.15%||$250||-||6 Month Youth Share Certificate|
|0.10%||$25k||-||3 Month Share Certificate|
|0.75%||$100||-||36 Month IRA Certificate|
|0.75%||$100||-||36 Month Roth IRA Certificate|
|0.75%||$100||-||36 Month CESA Certificate|
|0.45%||$100||-||24 Month IRA Certificate|
|0.45%||$100||-||24 Month Roth IRA Certificate|
|0.45%||$100||-||24 Month CESA Certificate|
|0.25%||$100||-||12 Month IRA Certificate|
|0.25%||$100||-||18 Month IRA Certificate|
|0.25%||$100||-||12 Month Roth IRA Certificate|
|0.25%||$100||-||18 Month Roth IRA Certificate|
|0.25%||$100||-||12 Month CESA Certificate|
|0.25%||$100||-||18 Month CESA Certificate|
|Commonwealth Central Credit Union Locations|
|Branch Office||537 E Calaveras Blvd||Milpitas, CA 95035|
|Branch Office||5890 Silver Creek Valley Rd||San Jose, CA 95138|
|Branch Office||400 Tennant Sta||Morgan Hill, CA 95037|
|Branch Office||3075 Union Ave||San Jose, CA 95124|