4 star ratingAverage User Rating:
4 star rating based on 1 review.

CP Credit Union

1100 Clinton Road
Jackson, MI 49202--206
(517) 784-7101
www.cpfederal.com

NCUA


CP Credit Union is headquartered in Jackson and is the 28th largest credit union in the state of Michigan. It is also the 563rd largest credit union in the nation. It was established in 1953 and as of December of 2012, it had grown to 144 employees and 46,275 members. CP Credit Union's savings rates are 92% higher than the national average, and it has a 4-star health rating.

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See Rates for: Checking | Savings | CD | IRA

CP Credit Union Checking Account Rates

ApyMinMaxProduct
2.50%-$10kKasasa Cash
0.10%--Business Checking
0.10%--Golden Power Checking Account

CP Credit Union Savings Account Rates

ApyMinMaxProduct
1.00%-$10kKasasa Savings
0.10%--Business Savings

CP Credit Union CD Rates

ApyMinMaxProduct
1.25%$500-60 Month Share Certificate
0.75%$500-36 Month Share Certificate
0.75%$500-48 Month Share Certificate
0.55%$500-30 Month Share Certificate
0.50%$500-24 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

CP Credit Union IRA Rates

ApyMinMaxProduct
1.25%$500-60 Month IRA Certificate
1.25%$500-60 Month Roth IRA Certificate
0.75%$500-36 Month IRA Certificate
0.75%$500-48 Month IRA Certificate
0.75%$500-36 Month Roth IRA Certificate
0.75%$500-48 Month Roth IRA Certificate
0.55%$500-30 Month IRA Certificate
0.55%$500-30 Month Roth IRA Certificate
0.50%$500-24 Month IRA Certificate
0.50%$500-24 Month Roth IRA Certificate
0.35%$500-18 Month IRA Certificate
0.35%$500-18 Month Roth IRA Certificate
0.30%$500-12 Month IRA Certificate
0.30%$500-12 Month Roth IRA Certificate
0.20%$500-6 Month IRA Certificate
0.20%$500-6 Month Roth IRA Certificate

Rates updated: 5/23/2013

Data for Q4 2012


Institution Statistics


CP
NCUA #8667
BankRate ReportView
Year Chartered1953
Employees144
Primary Regulator

Assets and Liabilities

Assets$363.84 million
Loans$254.32 million
Deposits$312.71 million
Equity Capital$36.69 million
Loan Loss Allowance$2.19 million
Unbacked Noncurrent Loans$2.21 million
Real Estate Owned$1.71 million

Historic Data - December 2011

Assets$346.50 million
Equity Capital$36.19 million
Loan Loss Allowance$2.59 million
Unbacked Noncurrent Loans$2.71 million
Real Estate Owned$1.34 million

Profit Margin - Quarterly

Net Interest Margin4.75%
Return on Assets0.37%
Return on Equity3.69%
Interest Income$14.96 million
Non-Interest Income$6.55 million

Institution Health


Overall Score:
4 out of 5
4
Texas Ratio4
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, 2012 CP Credit Union had $3.92 million in non-current loans and owned real-estate with $38.88 million in equity and loan loss allowances on hand to cover it. This gives CP Credit Union a Texas Ratio of 10.08% which is above average. Any bank with a Texas Ratio near or greater than 100% is considered at risk.
Texas Ratio Trend3
The Texas Ratio for CP Credit Union held steady from 10.45% as of December 31, 2011 to 10.08% as of December 31, 2012, resulting in a positive change of 3.52%.This indicates that the balance sheet and financial strength for CP Credit Union has held steady in recent periods.
Deposit Growth4
In the past year, CP Credit Union has increased its total deposits by $10.5 million, resulting in 3.48% 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.
Capitalization4
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 $363.84 million in assets with $38.88 million in equity, resulting in a capitalization level of 10.69%, which is above average.
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A Little Slow, But Otherwise Great
4 stars - Angler220 - Wednesday, April 20, 2011 - 8:01 AM

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!

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