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Overview / Commentary
562-862-8141
8237 3rd St
Downey, CA 90241

Downey Credit Union is headquartered in Downey and is the 115st largest credit union in the state of California. It is also the 991st largest credit union in the nation. It was established in 1957 and as of December of 2013, it had grown to 27 employees and 13,405 members. Downey Credit Union's savings rates are 44% higher than the national average, and it boasts a A+ health rating.

Field of Membership Restrictions

Must live, work, worship or attend school in Downey. - See Details

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Health

Data for Q4 2013

Institution Health

A+

Texas Ratio

GRADE:
A+

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 Downey Credit Union had $245,000 in non-current loans and owned real-estate with $21.94 million in equity and loan loss allowances on hand to cover it. This gives Downey Credit Union a Texas Ratio of 1.12% which is excellent. Any bank with a Texas Ratio near or greater than 100% is considered at risk.

Texas Ratio Trend

GRADE:
A+

The Texas Ratio for Downey Credit Union decreased dramatically from 2.51% as of December 31, 2012 to 1.12% as of December 31, 2013, resulting in a positive change of 55.50%.This indicates that the balance sheet and financial strength for Downey Credit Union has improved dramatically in recent periods.

Deposit Growth

GRADE:
B+

In the past year, Downey Credit Union has increased its total deposits by $3.25 million, resulting in 2.12% 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 Downey Credit Union has shown is above average.

Capitalization

GRADE:
A+

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. Downey Credit Union has $179.88 million in assets with $21.94 million in equity, resulting in a capitalization level of 12.20%, which is excellent.

Institution Statistics

Overall
NCUA #11870
Year Chartered1957
Employees27
Primary Regulator
Assets and Liabilities
Assets$179.88 million
Loans$67.19 million
Deposits$156.56 million
Equity Capital$21.51 million
Loan Loss Allowance$430,000
Unbacked Noncurrent Loans$245,000
Real Estate Owned$0
Historic Data - December 2012
Assets$176.23 million
Equity Capital$21.02 million
Loan Loss Allowance$540,000
Unbacked Noncurrent Loans$245,000
Real Estate Owned$0
Profit Margin - Quarterly
Net Interest Margin4.64%
Return on Assets0.27%
Return on Equity2.28%
Interest Income$4.20 million
Rates
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Downey Credit Union Savings Account Rates

DetailsAPYMINMAXPRODUCT
0.75%$100-Summer Survival Account
0.45%$100-IRA Share
0.45%$100-Roth IRA Share
0.45%$100-SEP IRA Share
0.45%$100-Educational IRA Share
0.25%$100-Regular Share Account
0.25%$100-Holiday Club Account
0.25%$100-"You Name It" Account
0.25%--Minor Account
0.25%$100-Coogan Trust Account
0.25%$500-Savings Secured VISA

Downey Credit Union Money Market Rates

DetailsAPYMINMAXPRODUCT
0.35%$2,500-Money Market Account

Downey Credit Union CD Rates

DetailsAPYMINMAXPRODUCT
1.00%$1k-48 Month Share Certificate
0.60%$1k-36 Month Share Certificate
0.50%$1k-24 Month Share Certificate
0.35%$1k-12 Month Share Certificate
0.20%$1k-6 Month Share Certificate

Downey Credit Union IRA Rates

DetailsAPYMINMAXPRODUCT
1.31%$500-30 Month IRA (Traditional,CESA,SEP,Roth)
0.95%$500-18 Month IRA (Traditional,SEP,CESA,Roth)
0.45%$500-12 Month IRA (Traditional,CESA,SEP,Roth)
Locations


Downey Credit Union Locations
Branch Office8237 3rd StDowney, CA 90241-3718
Branch Office11500 Brookshire AveDowney, CA 90241