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Not Federally Insured
815-937-7447
563 William R Latham Sr Dr
Bourbonnais, IL 60914

Commonwealth Credit Union is headquartered in Bourbonnais and is the 57th largest credit union in the state of Illinois. It is also the 1,867th largest credit union in the nation. It was established in 1951 and as of March of 2014, it had grown to 23 employees and 10,142 members. Commonwealth Credit Union has a B+ health rating.

Field of Membership Restrictions

Must live or work in Kankakee, Ford, Iroquois or Will County in Illinois or be an employee of one of the several Select Employee Groups (SEGs). - See Details

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Health

Data for Q1 2014

Institution Health

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

Texas Ratio

GRADE:
A+

The Texas Ratio is an indicator of how much capital a bank has available compared to the total value of loans considered at risk. As of March 31, 2014 Commonwealth Credit Union had $92,000 in non-current loans and owned real-estate with $7.42 million in equity and loan loss allowances on hand to cover it. This gives Commonwealth Credit Union a Texas Ratio of 1.24% which is excellent. Any bank with a Texas Ratio near or greater than 100% is considered at risk.

Texas Ratio Trend

GRADE:
A+

The Texas Ratio for Commonwealth Credit Union decreased dramatically from 4.98% as of March 31, 2013 to 1.24% as of March 31, 2014, resulting in a positive change of 75.08%.This indicates that the balance sheet and financial strength for Commonwealth Credit Union has improved dramatically in recent periods.

Deposit Growth

GRADE:
B+

In the past year, Commonwealth Credit Union has increased its total deposits by $1.05 million, resulting in 1.62% 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 Credit Union has shown is above average.

Capitalization

GRADE:
B+

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 Credit Union has $72.44 million in assets with $7.42 million in equity, resulting in a capitalization level of 10.25%, which is above average.

Institution Statistics

Overall
NCUA #97095
Year Chartered1951
Employees23
Primary Regulator
Assets and Liabilities
Assets$72.44 million
Loans$58.29 million
Deposits$65.78 million
Equity Capital$7.20 million
Loan Loss Allowance$225,000
Unbacked Noncurrent Loans$92,000
Real Estate Owned$0
Historic Data - March 2013
Assets$72.04 million
Equity Capital$6.48 million
Loan Loss Allowance$289,000
Unbacked Noncurrent Loans$92,000
Real Estate Owned$40,000
Profit Margin - Quarterly
Return on Assets0.43%
Return on Equity4.34%
Interest Income$542,000
Rates

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Commonwealth Credit Union Savings Account Rates

DetailsAPYMINMAXPRODUCT
0.25%$10k-IRA Share Account
0.25%$10k-Roth IRA Share Account
0.10%$25-Savings Account

Commonwealth Credit Union Money Market Rates

DetailsAPYMINMAXPRODUCT
0.20%$75k-Money Market Account

Commonwealth Credit Union Checking Account Rates

DetailsAPYMINMAXPRODUCT
0.10%$5k-Checking Account

Commonwealth Credit Union CD Rates

DetailsAPYMINMAXPRODUCT
1.00%$1k-60 Month CD
0.60%$1k-48 Month CD
0.50%$1k-36 Month CD
0.40%$1k-24 Month CD
0.40%$1k-30 Month CD
0.30%$1k-18 Month CD
0.25%$1k-12 Month CD
0.15%$1k-6 Month CD

Commonwealth Credit Union IRA Rates

DetailsAPYMINMAXPRODUCT
1.00%$1k-60 Month IRA
0.60%$1k-48 Month IRA
0.50%$1k-36 Month IRA
0.40%$1k-24 Month IRA
0.40%$1k-30 Month IRA
0.30%$1k-18 Month IRA
0.25%$1k-12 Month IRA
0.15%$1k-6 Month IRA
Locations


Commonwealth Credit Union Locations
Branch Office563 William R Latham Sr DrBourbonnais, IL 60914
Branch Office111 W Cherry StWatseka, IL 60970