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Overview / Commentary
888-428-5080
5080 W 60th Ave
Arvada, CO 80003-6919

Electrical Credit Union is headquartered in Arvada and is the 53rd largest credit union in the state of Colorado. It is also the 2,903rd largest credit union in the nation. It was established in 1953 and as of March of 2014, it had grown to 9 employees and 4,484 members. Electrical Credit Union has a C+ health rating.

Field of Membership Restrictions

Must be a member of IBEW Local 68 or other selected unions and groups - See Details

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Health

Data for Q1 2014

Institution Health

C+
Additional Factors: Institutions with a small asset base or a short operating history can represent an instability risk beyond what their financial ratios indicate. Electrical Credit Union has a low asset base.

Texas Ratio

GRADE:
A+

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 Electrical Credit Union had $205,000 in non-current loans and owned real-estate with $2.6 million in equity and loan loss allowances on hand to cover it. This gives Electrical Credit Union a Texas Ratio of 7.88% which is excellent. Any bank with a Texas Ratio near or greater than 100% is considered at risk.

Texas Ratio Trend

GRADE:
C+

The Texas Ratio for Electrical Credit Union experienced no significant changes from 7.06% as of March 31, 2013 to 7.88% as of March 31, 2014, resulting in a negative change of 11.73%. This indicates that the balance sheet and financial strength for Electrical Credit Union has had no significant changes in recent periods.

Deposit Growth

GRADE:
C

In the past year, Electrical Credit Union has decreased its total deposits by $-392,000, resulting in -1.33% 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 Electrical Credit Union has shown is average.

Capitalization

GRADE:
C

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. Electrical Credit Union has $31.59 million in assets with $2.6 million in equity, resulting in a capitalization level of 8.23%, which is average.

Institution Statistics

Overall
NCUA #8701
Year Chartered1953
Employees9
Primary Regulator
Assets and Liabilities
Assets$31.59 million
Loans$17.04 million
Deposits$28.98 million
Equity Capital$2.53 million
Loan Loss Allowance$66,000
Unbacked Noncurrent Loans$205,000
Real Estate Owned$0
Historic Data - March 2013
Assets$31.85 million
Equity Capital$2.38 million
Loan Loss Allowance$119,000
Unbacked Noncurrent Loans$205,000
Real Estate Owned$0
Profit Margin - Quarterly
Return on Assets0.71%
Return on Equity8.84%
Interest Income$259,000
Rates
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Electrical Credit Union Savings Account Rates

DetailsAPYMINMAXPRODUCT
0.25%--IRA Savings Account
0.10%--Regular Share Savings
0.10%--Christmas Club
0.10%--Special Savings Account
0.10%--Christmas Club Restricted

Electrical Credit Union CD Rates

DetailsAPYMINMAXPRODUCT
1.21%$1k-48 Month CD
0.90%$1k-36 Month CD
0.60%$1k-24 Month CD
0.40%$1k-12 Month CD
0.15%$1k-6 Month CD
0.10%$250-3 Month CD

Electrical Credit Union IRA Rates

DetailsAPYMINMAXPRODUCT
1.21%$1k-48 Month IRA
0.90%$1k-36 Month IRA
0.60%$1k-24 Month IRA
0.40%$1k-12 Month IRA
0.15%$1k-6 Month IRA
Locations


Electrical Credit Union Locations
Branch Office5080 W 60th AveArvada, CO 80003-6919