Community West Credit Union is headquartered in Kentwood and is the 74th largest credit union in the state of Michigan. It is also the 1,300th largest credit union in the nation. It was established in 1967 and as of December of 2013, it had grown to 30 employees and 14,832 members. Community West Credit Union has a A+ health rating.
Membership is available to individuals who reside, are employed, attend school or worship in Allegan, Barry, Ionia, Kent, or Ottawa County; to employees of the credit union; to anyone over age 55 who is receiving a retirement annuity, pension, social security etc., and lives in or belongs to a retirement organization (such as AARP), and resides in any of the counties mentioned above; to anyone currently a member regardless of current residence; and to immediate family of all those who are eligible for membership. - See Details
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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, 2013 Community West Credit Union had $852,000 in non-current loans and owned real-estate with $15.94 million in equity and loan loss allowances on hand to cover it. This gives Community West Credit Union a Texas Ratio of 5.35% which is excellent. Any bank with a Texas Ratio near or greater than 100% is considered at risk.
The Texas Ratio for Community West Credit Union experienced no significant changes from 5.60% as of December 31, 2012 to 5.35% as of December 31, 2013, resulting in a positive change of 4.49%.This indicates that the balance sheet and financial strength for Community West Credit Union has had no significant changes in recent periods.
In the past year, Community West Credit Union has increased its total deposits by $3.1 million, resulting in 3.07% 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 Community West 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. Community West Credit Union has $122.38 million in assets with $15.94 million in equity, resulting in a capitalization level of 13.02%, which is excellent.
|Assets and Liabilities|
|Equity Capital||$15.24 million|
|Loan Loss Allowance||$700,000|
|Unbacked Noncurrent Loans||$719,000|
|Real Estate Owned||$133,000|
|Historic Data - December 2012|
|Equity Capital||$14.47 million|
|Loan Loss Allowance||$907,000|
|Unbacked Noncurrent Loans||$719,000|
|Real Estate Owned||$51,000|
|Profit Margin - Quarterly|
|Net Interest Margin||3.71%|
|Return on Assets||0.6%|
|Return on Equity||4.81%|
|Interest Income||$4.87 million|
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|0.20%||-||-||Roth IRA Savings|
|0.20%||-||-||Coverdell Educational IRA|
|0.45%||$100k||-||Insured Money Market|
|7.00%||-||$2k||Completely Free Checking|
|1.65%||$500||-||60 Month CD|
|1.25%||$500||-||48 - 59 Month CD|
|1.00%||$500||-||36 - 47 Month CD|
|0.75%||$500||-||24 - 35 Month CD|
|0.60%||$500||-||18 - 23 Month CD|
|0.50%||$500||-||12 - 17 Month CD|
|0.35%||$500||-||6 - 11 Month CD|
|0.25%||$500||-||3 - 5 Month CD|
|1.65%||$500||-||60 Month IRA (Traditional,CESA,Roth)|
|1.25%||$500||-||48 - 59 Month IRA (Traditional,CESA,Roth)|
|1.00%||$500||-||36 - 47 Month IRA (Traditional,CESA,Roth)|
|0.75%||$500||-||24 - 35 Month IRA (Traditional,CESA,Roth)|
|0.60%||$500||-||18 - 23 Month IRA (Traditional,CESA,Roth)|
|0.50%||$500||-||12 - 17 Month IRA (Traditional,CESA,Roth)|
|0.35%||$500||-||6 - 11 Month IRA (Traditional,CESA,Roth)|
|0.25%||$500||-||3 - 5 Month IRA (Traditional,CESA,Roth)|
|Community West Credit Union Locations|
|Branch Office||4205 32nd AVE||Hudsonville, MI 49426|
|Branch Office||4045 60th ST SE||Kentwood, MI 49512|
|Branch Office||2757 44th ST SW||Wyoming, MI 49519|