2 star ratingAverage User Rating:
2 star rating based on 2 reviews.

Communications Federal Credit Union

Communications Federal Credit Union Locations
4141 NW Expressway Hwy
Oklahoma City, OK 73116
405-879-5691
www.comfedcu.org

NCUA


Communications Federal Credit Union is headquartered in Oklahoma City and is the 4th largest credit union in the state of Oklahoma. It is also the 244th largest credit union in the nation. It was established in 1939 and as of March of 2013, it had grown to 149 employees and 56,012 members. Communications Federal Credit Union has a 5-star health rating.

Communications Federal Credit Union Routing Number: 303085476

Related Posts

Communications FCU Is Terminating Their Free Performance Checking ... (Forum) - 12/29/2011

Their (4%, $25K) RCA is no longer on their website; in addition, they will change their rate to (3%, $25K) by 1 January 2012 (and stricter RCA requirements) as indicated here by an Anon.: "Received email from Communications FCU 23 November 2011 stating c

Top Reward Checking Account at Communications FCU - Open to All in OK & KS - 9/30/2011

I first reported on Communications Federal Credit Union and its reward checking account, called Free Performance Checking Account , in May 2008 . The rate has fallen, but not nearly as much as the rat ...

2.70% 24-Month CD & 2.05% 12-Month CD Continues at Communications FCU in OK - Local Only (Forum) - 1/25/2010

Communications FCU in Oklahoma continues to offer several very competitive CDs including a 2.70% APY 24-month CD, 2.05% APY 12-month CD and a 1.70% APY 6-month CD. These are also available in an IRA. Refer to my December review for more details.

2.70% 24-Month CD at Communication FCU in OK - Local Only - 12/15/2009

Communication Federal Credit Union is offering some competitive share certificate and IRA rates. The most competitive ones include a 1.70% APY 6-month CD, a 2.05% APY 12-month CD and a 2.70% APY 24-month CD. Minimum deposit is $1,000. These rates are...

2008




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

Communications Federal Credit Union Checking Account Rates

ApyMinMaxProduct
0.10%--Share Draft

Communications Federal Credit Union Savings Account Rates

ApyMinMaxProduct
0.60%$100k-IRA Share Account
0.15%--Share Account
0.10%--Health Savings Account

Communications Federal Credit Union Money Market Rates

ApyMinMaxProduct
0.60%$100k-Money Max

Communications Federal Credit Union CD Rates

ApyMinMaxProduct
1.50%$1k-5 Year CD Share Certificate
1.45%$1k-4 Year CD Share Certificate
1.25%$1k-3 Year CD Share Certificate
1.00%$1k-2 Year CD Share Certificate
0.80%$1k-18 Month CD Share Certificate
0.75%$1k-1 Year CD Share Certificate
0.60%$1k-6 Month CD Share Certificate

Communications Federal Credit Union IRA Rates

ApyMinMaxProduct
1.50%$1k-5 Year IRA Share Certificate
1.45%$1k-4 Year IRA Share Certificate
1.25%$1k-3 Year IRA Share Certificate
1.00%$1k-2 Year IRA Share Certificate
0.80%$1k-18 Month IRA Share Certificate
0.75%$1k-1 Year IRA Share Certificate
0.60%$1k-6 Month IRA Share Certificate

Rates updated: 6/19/2013

Data for Q1 2013


Institution Statistics


COMMUNICATION
NCUA #3454
BankRate ReportView
Year Chartered1939
Employees149
Primary Regulator

Assets and Liabilities

Assets$877.44 million
Loans$408.86 million
Deposits$694.07 million
Equity Capital$134.38 million
Loan Loss Allowance$5.46 million
Unbacked Noncurrent Loans$7.49 million
Real Estate Owned$386,000

Historic Data - March 2012

Assets$840.14 million
Equity Capital$131.59 million
Loan Loss Allowance$2.15 million
Unbacked Noncurrent Loans$2.49 million
Real Estate Owned$40,000

Profit Margin - Quarterly

Net Interest Margin1.05%
Return on Assets0.71%
Return on Equity4.67%
Interest Income$7.51 million
Non-Interest Income$1.23 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 March 31, 2013 Communications Federal Credit Union had $7.88 million in non-current loans and owned real-estate with $139.85 million in equity and loan loss allowances on hand to cover it. This gives Communications Federal Credit Union a Texas Ratio of 5.63% 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 Communications Federal Credit Union held steady from 1.89% as of March 31, 2012 to 5.63% as of March 31, 2013, resulting in a negative change of 197.87%. This indicates that the balance sheet and financial strength for Communications Federal Credit Union has held steady in recent periods.
Deposit Growth5
In the past year, Communications Federal Credit Union has increased its total deposits by $35.56 million, resulting in 5.4% 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 Communications Federal Credit Union has shown is excellent.
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. Communications Federal Credit Union has $877.44 million in assets with $139.85 million in equity, resulting in a capitalization level of 15.94%, which is excellent.
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Communication Federal Credit Union -- Misleading information during the application process
3 stars - 51hh - Thursday, September 29, 2011 - 1:00 PM

Talking about "tough to join" and a bit misleading:

They stated at their website that anyone can join easlily via the "Citizen for Financial Literacy" with $5 contribution.  Then when one applies, they stated after one goes through all the online application procedures (Chex, ID check, sending payment, etc.): "Sorry, you have to live in OK or Kansas to join that association." 

I am not complaining about the "tough to join" part, but it is a bit misleading to cause people to apply, then they turned one down rapidly.  It is a waste of time on the part of the applicants. 

Ref. from their website:

It's never been easier to join Communication Federal Credit Union! Just click the Open My Account button below and go directly to our online membership application.
  • New member? Signing up is simple and easy.
Citizens for Financial Literacy
  (If you do not fall within our regular field of membership, you may join the Citizens for
   Financial Literacy association in order to become a member with Communication
   Federal Credit Union) -- Note that nowhere it specifies the residency requirement to join this association during the important application process.

Please note that Maria did point out the residency requirement was stated at the cover page.  The CC should have included this crucial information during the online application process to ensure te ruling out of out-of-state applicants (like the Kasasa Cash application process).  Since it is now a minor flaw, I have modified my initial comments and rating accordingly.  Thanks Maria!





6

Horrible Experience At Branch 3 Located At 520 Southwest 89Th Street, OKC
1 stars - pete1 - Tuesday, May 8, 2012 - 7:17 AM

Branch 3 could use a lesson in customer service.  My wife and I applied for a auto loan back in February 2012 due to the low rate 1.99% being offered.  Turns out that was the only thing we would enjoy about the credit union.  I am not exaggerating one bit when I say that the tellers are the rudest, most unprofessional, uneducated group of misfits I have ever encountered.  There is so much tension between tellers because they are constantly fueding because one is doing more than the other.  They are constantly in a horrible mood and act like they do not want to be there.  Customer service is a foreign concept to these tellers. They treat the members like dirt, shout at members, they throw temper tantrums when they get "overworked."  I refinanced my vehicle after 3 months of their practices and would not recommend this place!

5