CP Credit Union is headquartered in Jackson and is the 30th largest credit union in the state of Michigan. It is also the 574th largest credit union in the nation. It was established in 1953 and as of December of 2013, it had grown to 145 employees and 50,463 members. CP Credit Union's savings rates are 92% higher than the national average, and it has a B health rating.
Must work in the Consumers Energy or several other companies in the Jackson, Brooklyn, Parma or Ingham area. - See Details
CP Federal Credit Union is a wonderful place to bank. Their branches are in convenient locations, the people who work there professional and courteous. The people who help you open accounts or take out loans, etc., and very informational and eager to help you find what suites your needs the best. They are not pushy, nor do they try to change your mind. The only thing that keeps me from giving them a "5" on the scale is that teller server is very slow. The reason for that is the system they use has many checks and balances to make sure they are correct in all transactions. That part of it is much slower than any other place we have banked with. However, all of the other positives outweigh a bit of a lengthier transaction time and we love our bank!
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 CP Credit Union had $7.09 million in non-current loans and owned real-estate with $43.28 million in equity and loan loss allowances on hand to cover it. This gives CP Credit Union a Texas Ratio of 16.38% which is above average. Any bank with a Texas Ratio near or greater than 100% is considered at risk.
The Texas Ratio for CP Credit Union increased slightly from 10.08% as of December 31, 2012 to 16.38% as of December 31, 2013, resulting in a negative change of 62.47%. This indicates that the balance sheet and financial strength for CP Credit Union has declined slightly in recent periods.
In the past year, CP Credit Union has increased its total deposits by $5.44 million, resulting in 1.74% 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 CP Credit Union has shown is above average.
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. CP Credit Union has $375.27 million in assets with $43.28 million in equity, resulting in a capitalization level of 11.53%, which is excellent.
|Assets and Liabilities|
|Equity Capital||$39.84 million|
|Loan Loss Allowance||$3.44 million|
|Unbacked Noncurrent Loans||$6.00 million|
|Real Estate Owned||$1.09 million|
|Historic Data - December 2012|
|Equity Capital||$36.69 million|
|Loan Loss Allowance||$2.19 million|
|Unbacked Noncurrent Loans||$6.00 million|
|Real Estate Owned||$1.71 million|
|Profit Margin - Quarterly|
|Net Interest Margin||4.88%|
|Return on Assets||0.62%|
|Return on Equity||5.88%|
|Interest Income||$16.69 million|
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|0.25%||-||-||Roth IRA Share|
|0.10%||-||-||CP Money Tree|
|0.10%||-||-||Golden Power Checking Account|
|1.30%||$500||-||60 Month Share Certificate|
|1.00%||$500||-||48 Month Share Certificate|
|0.90%||$500||-||36 Month Share Certificate|
|0.60%||$500||-||24 Month Share Certificate|
|0.60%||$500||-||30 Month Share Certificate|
|0.35%||$500||-||18 Month Share Certificate|
|0.30%||$500||-||12 Month Share Certificate|
|0.20%||$500||-||6 Month Share Certificate|
|0.15%||$500||-||3 Month Share Certificate|
|1.30%||$500||-||60 Month IRA Certificate (Traditional,Roth)|
|1.00%||$500||-||48 Month IRA Certificate (Traditional,Roth)|
|0.90%||$500||-||36 Month IRA Certificate (Traditional,Roth)|
|0.60%||$500||-||24 Month IRA Certificate (Traditional,Roth)|
|0.60%||$500||-||30 Month IRA Certificate (Traditional,Roth)|
|0.35%||$500||-||18 Month IRA Certificate (Traditional,Roth)|
|0.30%||$500||-||12 Month IRA Certificate (Traditional,Roth)|
|0.20%||$500||-||6 Month IRA Certificate (Traditional,Roth)|
|CP Credit Union Locations|
|Branch Office||1210 W Parnall Rd||Jackson, MI 49201-7012|
|Branch Office||1 Energy Plaza Dr||Jackson, MI 49201-2357|
|Branch Office||145 Wamplers Lake Rd||Brooklyn, MI 49230-9585|
|Branch Office||121 W Main St||Parma, MI 49269-8904|
|Branch Office||143 W Michigan Ave||Jackson, MI 49201-1303|
|Branch Office||103 E Kipp Rd||Mason, MI 48854-8202|
|Branch Office||2055 Spring Arbor Rd||Jackson, MI 49203|
|Branch Office||1100 Clinton Rd||Jackson, MI 49202-2060|