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815-933-7711
390 N Convent St
Bourbonnais, IL 60914-2016

Elite Community Credit Union is headquartered in Bourbonnais and is the 144th largest credit union in the state of Illinois. It is also the 4,016st largest credit union in the nation. It was established in 1957 and as of March of 2014, it had grown to 5 employees and 2,027 members. Elite Community Credit Union's savings rates are 3X the national average, and it has a B+ health rating.

Field of Membership Restrictions

You may qualify to be a member of our Credit Union if you meet any of the following criteria: Anyone who lives or works in Kankakee or Iroquois Counties; Employees or Retirees of BASF Corporation, Cognis Corporation or Henkel Corporation; Employees of Sun Chemical (Illinois), Micro Inks (Illinois), IKO Midwest (Illinois), or Heartland Harvest, Inc.; Employees of Envision Credit Union; Parishioners of St. Martin’s Church , Kankakee; Employees of Bradley Elementary School District #61: District Administration Office, Bradley Central, Bradley West and Bradley East; Employees of Bourbonnais Elementary School District #53: Central Office, Robert Frost, Alan Shepard, Shabonna, Noel LeVasseur, Liberty Intermediate and Upper Grade Center; Employees of Bradley Bourbonnais Community High School District #307; Employees of St. George Elementary School District #258; Employees of Kankakee County Training Center for the Disabled; Employees of Kankakee Area Career Center; Employees of Kankakee Area Special Education Cooperative; Employees of Olivet Nazarene University; Employees of United Developmental Services; Employees of Bourbonnais Fire Protection District. - See Details

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Health

Data for Q1 2014

Institution Health

B+
Additional Factors: Institutions with a small asset base or a short operating history can represent an instability risk beyond what their financial ratios indicate. Elite Community 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 Elite Community Credit Union had $61,000 in non-current loans and owned real-estate with $1.92 million in equity and loan loss allowances on hand to cover it. This gives Elite Community Credit Union a Texas Ratio of 3.18% 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 Elite Community Credit Union experienced no significant changes from 2.64% as of March 31, 2013 to 3.18% as of March 31, 2014, resulting in a negative change of 20.09%. This indicates that the balance sheet and financial strength for Elite Community Credit Union has had no significant changes in recent periods.

Deposit Growth

GRADE:
A

In the past year, Elite Community Credit Union has increased its total deposits by $469,000, resulting in 4% 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 Elite Community Credit Union has shown is excellent.

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. Elite Community Credit Union has $14.15 million in assets with $1.92 million in equity, resulting in a capitalization level of 13.58%, which is excellent.

Institution Statistics

Overall
NCUA #60304
Year Chartered1957
Employees5
Primary Regulator
Assets and Liabilities
Assets$14.15 million
Loans$8.84 million
Deposits$12.19 million
Equity Capital$1.89 million
Loan Loss Allowance$32,000
Unbacked Noncurrent Loans$61,000
Real Estate Owned$0
Historic Data - March 2013
Assets$13.64 million
Equity Capital$1.86 million
Loan Loss Allowance$27,000
Unbacked Noncurrent Loans$61,000
Real Estate Owned$0
Profit Margin - Quarterly
Return on Assets-0.03%
Return on Equity-0.21%
Interest Income$119,000
Rates
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Elite Community Credit Union Savings Account Rates

DetailsAPYMINMAXPRODUCT
1.51%--Coverdell IRA Share Account
0.40%--Roth IRA Share Account
0.40%--IRA Share Account
0.18%--Share Savings Account
0.15%--Club Savings Account

Elite Community Credit Union CD Rates

DetailsAPYMINMAXPRODUCT
0.45%$1k-36 Month CD
0.40%$1k-24 Month CD
0.35%$1k-12 Month CD
0.25%$500-6 Month CD

Elite Community Credit Union IRA Rates

DetailsAPYMINMAXPRODUCT
0.45%$1k-36 Month IRA
0.40%$1k-24 Month IRA
0.35%$1k-12 Month IRA
0.25%$500-6 Month IRA
Locations


Elite Community Credit Union Locations
Branch Office2525 S Kensington AveKankakee, IL 60901
Branch Office390 N Convent StBourbonnais, IL 60914-2016