Earthmover Credit Union
Earthmover Credit Union is headquartered in Oswego and is the 28th largest credit union in the state of Illinois. It is also the 844th largest credit union in the nation. It was established in 1958 and as of March of 2014, it had grown to 48 employees and 23,417 members. Earthmover Credit Union has a A health rating.
Field of Membership Restrictions
Earthmover Credit Union is a community credit union. Membership is available to anyone who meets ONE of the following qualifications: • If you live or work in Kendall, Kane, DuPage, Will (north of I-80), DeKalb (south of I-88), or LaSalle (north of I-80) • If an immediate family member is a member of Earthmover Credit Union • If you work for one of our Select Employer Groups. - See Details
Earthmover Credit Union Denied Me A Loan
I had a bad experience with Decatur Earthmover Credit Union. I applied for a $1,500 stimulus loan from Decatur Earthmover. My request was denied even though I have good credit and no other loans. This credit union was cherry-picking its applicants. I will never deposit any more money with this credit union. They always want your money, but when it comes time for a loan, they are a whole different story.
Data for Q1 2014
Institution Health
Texas Ratio
The Texas Ratio is an indicator of how much capital a bank has available compared to the total value of loans considered at risk. As of March 31, 2014 Earthmover Credit Union had $2.43 million in non-current loans and owned real-estate with $37.48 million in equity and loan loss allowances on hand to cover it. This gives Earthmover Credit Union a Texas Ratio of 6.47% which is excellent. Any bank with a Texas Ratio near or greater than 100% is considered at risk.
Texas Ratio Trend
The Texas Ratio for Earthmover Credit Union decreased dramatically from 10.59% as of March 31, 2013 to 6.47% as of March 31, 2014, resulting in a positive change of 38.88%.This indicates that the balance sheet and financial strength for Earthmover Credit Union has improved dramatically in recent periods.
Deposit Growth
In the past year, Earthmover Credit Union has decreased its total deposits by -$2.24 million, resulting in -1.13% 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 Earthmover Credit Union has shown is average.
Capitalization
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. Earthmover Credit Union has $231.18 million in assets with $37.48 million in equity, resulting in a capitalization level of 16.21%, which is excellent.
Institution Statistics
| Overall | |
|---|---|
| NCUA # | 97059 |
| Year Chartered | 1958 |
| Employees | 48 |
| Primary Regulator |
| Assets and Liabilities | |
|---|---|
| Assets | $231.18 million |
| Loans | $126.00 million |
| Deposits | $196.85 million |
| Equity Capital | $34.20 million |
| Loan Loss Allowance | $3.28 million |
| Unbacked Noncurrent Loans | $2.06 million |
| Real Estate Owned | $366,000 |
| Historic Data - March 2013 | |
|---|---|
| Assets | $233.93 million |
| Equity Capital | $33.43 million |
| Loan Loss Allowance | $3.70 million |
| Unbacked Noncurrent Loans | $2.06 million |
| Real Estate Owned | $422,000 |
| Profit Margin - Quarterly | |
|---|---|
| Net Interest Margin | 1.13% |
| Return on Assets | 0.8% |
| Return on Equity | 5.42% |
| Interest Income | $1.79 million |
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Earthmover Credit Union Savings Account Rates
| Details | APY | MIN | MAX | PRODUCT |
|---|---|---|---|---|
| 0.20% | $1,025 | - | CESA Savings | |
| 0.20% | $1,025 | - | IRA Savings | |
| 0.20% | $1,025 | - | Roth IRA Savings | |
| 0.10% | $10,025 | - | Regular Tiered Shares | |
| 0.10% | $10,025 | - | Youth Shares | |
| 0.05% | - | - | Christmas Club | |
| 0.01% | - | - | Special Accounts |
Earthmover Credit Union Money Market Rates
| Details | APY | MIN | MAX | PRODUCT |
|---|---|---|---|---|
| 0.25% | $50k | - | Money Market |
Earthmover Credit Union Checking Account Rates
| Details | APY | MIN | MAX | PRODUCT |
|---|---|---|---|---|
| 0.10% | $2,500 | - | Share Draft Checking |
Earthmover Credit Union CD Rates
| Details | APY | MIN | MAX | PRODUCT |
|---|---|---|---|---|
| 1.25% | $500 | - | 60 Month CD | |
| 1.00% | $500 | - | 48 Month CD | |
| 0.70% | $500 | - | 36 Month CD | |
| 0.60% | $1k | - | 18 Month Special with ECU checking | |
| 0.60% | $5k | - | 18 Month Special | |
| 0.45% | $1k | - | 12 Month Special with ECU checking | |
| 0.45% | $5k | - | 12 Month Special | |
| 0.45% | $500 | - | 30 Month CD | |
| 0.40% | $500 | - | 24 Month CD | |
| 0.30% | $500 | - | 18 Month CD | |
| 0.25% | $500 | - | 12 Month CD | |
| 0.15% | $500 | - | 6 Month CD | |
| 0.10% | $500 | - | 3 Month CD |
Earthmover Credit Union IRA Rates
| Details | APY | MIN | MAX | PRODUCT |
|---|---|---|---|---|
| 1.35% | $500 | - | 60 Month IRA | |
| 1.10% | $500 | - | 48 Month IRA | |
| 0.75% | $500 | - | 36 Month IRA | |
| 0.45% | $500 | - | 24 Month IRA | |
| 0.35% | $500 | - | 18 Month IRA | |
| 0.30% | $500 | - | 12 Month IRA |
| Earthmover Credit Union Locations | ||
|---|---|---|
| Branch Office | 2195 Baseline Rd | Oswego, IL 60543-6006 |
| Branch Office | 1008 N Bridge St | Yorkville, IL 60560-1111 |
| Branch Office | 1735 N Farnsworth Ave | Aurora, IL 60505-1511 |
| Branch Office | 1260 Ogden Ave | Montgomery, IL 60538 |
| Branch Office | 1037 W Orchard Rd | North Aurora, IL 60542 |
| Branch Office | ECU c/o Oswego High School 4250 State Route 71 | Oswego, IL 60543 |