Co-Op Services Credit Union

Co-Op Services Credit Union Locations
29550 Five Mile Rd.
Livonia, MI 48154
1-734-522-3700
www.cscu.org

Co-Op Services Credit Union is headquartered in Livonia and is the 21st largest credit union in the state of Michigan. It is also the 484th largest credit union in the nation. It was established in 1954 and as of December of 2011, it had grown to 105 employees and 50,019 members. Co-Op Services Credit Union has a 5-star health rating.

Co-Op Services Credit Union Routing Number: 272477694

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Bonus and Free Checking at Co-Op Services Credit Union in Michigan - Local Only - 10/18/2011

Co-Op Services Credit Union has received quite a bit of publicity in the last few weeks as one of the credit unions that is taking advantage of Bank of America's new debit card fees and the fees being ...



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

Co-Op Services Credit Union Checking Account Rates

ApyMinMaxProduct
0.10%$1k-Dividend Bearing Checking

Co-Op Services Credit Union Savings Account Rates

ApyMinMaxProduct
0.40%$500k-Ultra Savings
0.15%$2,500-High Yield Fund
0.10%$200-Regular Share Savings
0.10%--Vacation Club
0.10%--Christmas Club

Co-Op Services Credit Union Money Market Rates

ApyMinMaxProduct
0.30%$500k-Money Market Account

Co-Op Services Credit Union CD Rates

ApyMinMaxProduct
1.00%$100k-60 Month CD
0.85%$100k-48 Month CD
0.70%$100k-36 Month CD
0.50%$100k-24 Month CD
0.50%$100k-30 Month CD
0.30%$100k-12 Month CD
0.30%$100k-15 Month CD
0.30%$100k-18 Month CD
0.25%$100k-9 Month CD
0.20%$100k-91 Day CD
0.20%$100k-6 Month CD
0.10%$25-12 Month Save to Win CD

Co-Op Services Credit Union IRA Rates

ApyMinMaxProduct
1.00%$100k-60 Month IRA
1.00%$100k-60 Month Roth IRA
1.00%$100k-60 Month CESA
0.85%$100k-48 Month IRA
0.85%$100k-48 Month Roth IRA
0.85%$100k-48 Month CESA
0.70%$100k-36 Month IRA
0.70%$100k-36 Month Roth IRA
0.70%$100k-36 Month CESA
0.50%$100k-24 Month IRA
0.50%$100k-30 Month IRA
0.50%$100k-24 Month Roth IRA
0.50%$100k-30 Month Roth IRA
0.50%$100k-24 Month CESA
0.50%$100k-30 Month CESA
0.30%$100k-12 Month IRA
0.30%$100k-15 Month IRA
0.30%$100k-18 Month IRA
0.30%$100k-12 Month Roth IRA
0.30%$100k-15 Month Roth IRA
0.30%$100k-18 Month Roth IRA
0.30%$100k-12 Month CESA
0.30%$100k-15 Month CESA
0.30%$100k-18 Month CESA
0.25%$100k-9 Month IRA
0.25%$100k-9 Month Roth IRA
0.25%$100k-9 Month CESA
0.20%$100k-91 Day IRA
0.20%$100k-6 Month IRA
0.20%$100k-91 Day Roth IRA
0.20%$100k-6 Month Roth IRA
0.20%$100k-91 Day CESA
0.20%$100k-6 Month CESA
0.10%$500-12 Month Save to Win IRA
0.10%$500-12 Month Save to Win Roth IRA
0.10%$500-12 Month Save to Win CESA

Rates updated: 5/24/2012

Data for Q4 2011


Institution Statistics


CO-OP SERVICES
NCUA #62426
BankRate ReportView
Year Chartered1954
Employees105
Primary Regulator

Assets and Liabilities

Assets$400.84 million
Loans$218.68 million
Deposits$343.39 million
Equity Capital$44.18 million
Loan Loss Allowance$11.32 million
Unbacked Noncurrent Loans$3.76 million
Real Estate Owned$524,000

Historic Data - December 2010

Assets$375.96 million
Equity Capital$39.29 million
Loan Loss Allowance$10.94 million
Unbacked Noncurrent Loans$6.85 million
Real Estate Owned$389,000

Profit Margin - Quarterly

Net Interest Margin6.39%
Return on Assets0.67%
Return on Equity6.08%
Interest Income$18.12 million
Non-Interest Income$7.99 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 December 31, 2011 Co-Op Services Credit Union had $4.28 million in non-current loans and owned real-estate with $55.5 million in equity and loan loss allowances on hand to cover it. This gives Co-Op Services Credit Union a Texas Ratio of 7.71% which is excellent. Any bank with a Texas Ratio near or greater than 100% is considered at risk.
Texas Ratio Trend5
The Texas Ratio for Co-Op Services Credit Union decreased significantly from 14.41% as of December 31, 2010 to 7.71% as of December 31, 2011, resulting in a positive change of 46.46%.This indicates that the balance sheet and financial strength for Co-Op Services Credit Union has improved significantly in recent periods.
Deposit Growth5
In the past year, Co-Op Services Credit Union has increased its total deposits by $19.83 million, resulting in 6.13% 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 Co-Op Services 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. Co-Op Services Credit Union has $400.84 million in assets with $55.5 million in equity, resulting in a capitalization level of 13.85%, which is excellent.
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G.S. - October 18, 2011
BofA's $5 fee and all of the other new debit fees banks are beginning to charge are in response to the fall in revenues from debit card transactions that are the consequence of the passing of the Durbin Amendment and the subsequent Federal Reserve ruling to limit debit interchange at $0.22 0.05% of the transaction amount.

Those of us who were paying attention to what was happening knew that this was coming and warned against it.  Here is one of the things we wrote at the time: http://blog.unibulmerchantservices.com/banks-may-limit-debit-card-transaction-size-to-fight-fee-limit

What happened was that the government decided that a substantial portion of the banks' revenues would be collected by retailers.  The banks then decided to make up for the shortfall by creating new revenue sources.  Is that surprising?

 
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