Elite Community Credit Union
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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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 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
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
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
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 Chartered | 1957 |
| Employees | 5 |
| 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 | |
|---|---|
| Net Interest Margin | 1.19% |
| Return on Assets | -0.03% |
| Return on Equity | -0.21% |
| Interest Income | $119,000 |
Always verify rates and promotions with the bank or credit union. We are not Elite Community Credit Union, we are a rate comparison website and can not provide official rates or promotions.
Elite Community Credit Union Savings Account Rates
| Details | APY | MIN | MAX | PRODUCT |
|---|---|---|---|---|
| 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
| Details | APY | MIN | MAX | PRODUCT |
|---|---|---|---|---|
| 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
| Details | APY | MIN | MAX | PRODUCT |
|---|---|---|---|---|
| 0.45% | $1k | - | 36 Month IRA | |
| 0.40% | $1k | - | 24 Month IRA | |
| 0.35% | $1k | - | 12 Month IRA | |
| 0.25% | $500 | - | 6 Month IRA |
| Elite Community Credit Union Locations | ||
|---|---|---|
| Branch Office | 2525 S Kensington Ave | Kankakee, IL 60901 |
| Branch Office | 390 N Convent St | Bourbonnais, IL 60914-2016 |