Destinations Credit Union is headquartered in Baltimore and is the 43rd largest credit union in the state of Maryland. It is also the 2,117st largest credit union in the nation. It was established in 1935 and as of September of 2013, it had grown to 21 employees and 8,033 members. Destinations Credit Union's savings rates are 44% higher than the national average, and it has a A health rating.
Membership is open to anyone who works for one of the several sponsor groups, or lives in Parkville, Carney, Harford Park, Oakleigh Manor, or attended Parkville High School. You can also qualify for membership if you are a family member of a current Destinations Credit Union member, or if you are a member of the Friends of the Red Cross. - 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 September 30, 2013 Destinations Credit Union had $469,000 in non-current loans and owned real-estate with $7.81 million in equity and loan loss allowances on hand to cover it. This gives Destinations Credit Union a Texas Ratio of 6.00% which is excellent. Any bank with a Texas Ratio near or greater than 100% is considered at risk.
The Texas Ratio for Destinations Credit Union decreased slightly from 6.83% as of September 30, 2012 to 6.00% as of September 30, 2013, resulting in a positive change of 12.14%.This indicates that the balance sheet and financial strength for Destinations Credit Union has improved slightly in recent periods.
In the past year, Destinations Credit Union has increased its total deposits by $1.03 million, resulting in 2.13% 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 Destinations 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. Destinations Credit Union has $57.73 million in assets with $7.81 million in equity, resulting in a capitalization level of 13.54%, which is excellent.
|Assets and Liabilities|
|Equity Capital||$7.52 million|
|Loan Loss Allowance||$293,000|
|Unbacked Noncurrent Loans||$258,000|
|Real Estate Owned||$211,000|
|Historic Data - September 2012|
|Equity Capital||$7.73 million|
|Loan Loss Allowance||$355,000|
|Unbacked Noncurrent Loans||$258,000|
|Real Estate Owned||$0|
|Profit Margin - Quarterly|
|Net Interest Margin||5.14%|
|Return on Assets||-0.26%|
|Return on Equity||-1.97%|
|Interest Income||$1.67 million|
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|0.25%||-||-||IRA Share Savings Account|
|0.25%||-||-||Roth IRA Share Savings Account|
|0.25%||-||-||Coverdell Education Savings Account|
|0.10%||-||-||Christmas Club Account|
|0.10%||-||-||Vacation Club Account|
|0.31%||$25k||-||Money Market Account|
|1.20%||$500||-||5 Year Share Certificate|
|0.82%||$500||-||3 Year Share Certificate|
|0.65%||$500||-||2 Year Share Certificate|
|0.47%||$500||-||1 Year Share Certificate|
|0.33%||$500||-||6 Month Share Certificate|
|1.20%||$500||-||5 Year IRA Certificate|
|1.20%||$500||-||5 Year Roth IRA Certificate|
|1.20%||$500||-||5 Year CESA Certificate|
|0.82%||$500||-||3 Year IRA Certificate|
|0.82%||$500||-||3 Year Roth IRA Certificate|
|0.82%||$500||-||3 Year CESA Certificate|
|0.65%||$500||-||2 Year IRA Certificate|
|0.65%||$500||-||2 Year Roth IRA Certificate|
|0.65%||$500||-||2 Year CESA Certificate|
|0.47%||$500||-||1 Year IRA Certificate|
|0.47%||$500||-||1 Year Roth IRA Certificate|
|0.47%||$500||-||1 Year CESA Certificate|
|0.33%||$500||-||6 Month IRA Certificate|
|0.33%||$500||-||6 Month Roth IRA Certificate|
|0.33%||$500||-||6 Month CESA Certificate|
|Destinations Credit Union Locations|
|Branch Office||411 N Cranberry Rd||Westminster, MD 21157-6312|
|Branch Office||5401 Old Court Rd||Randallstown, MD 21133-5103|
|Main Office||8767 Satyr Hill Rd||Baltimore, MD 21234|