Fairmont FCU

401 Tenth Street
Fairmont, WV 26554
1.877.360.FFCU(3328)
www.fairmontfcu.com
 

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4.01% Reward Checking Account at Fairmont Federal Credit Union in West Virginia - 2/12/2009

Update 11/09/09: The top rate has fallen to 4.01% APY. Refer to the bottom of the post for the rate history.Fairmont FCU is offering a rewards checking account that pays 4.01% APY on balances up to $25,000 (1.01% for above) and refunds ATM fees...


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See Rates for: Checking | Savings | Money Market | CD | IRA

Checking Accounts

ApyMinMaxProduct
0.75%$250k-Basic Business Checking
0.75%$250k-Business Checking II
0.75%$250k-Business Checking Exempt
0.50%$2k-Priority Choice Checking

Savings Accounts

ApyMinMaxProduct
0.75%--IRA Traditional Club
0.75%--IRA Roth Club
0.75%--IRA Education Club
0.15%--Christmas Club
0.15%--Other Clubs
0.15%--Savertooth Tiger Account Club
0.15%$50-Share Savings
0.10%$50-Business Share Savings

Money Market Accounts

ApyMinMaxProduct
1.00%$100k-E-Z Money Manager

Certificates of Deposit

ApyMinMaxProduct
2.25%$1,500-60 Month Premier Share Draft Membership Certificate
2.25%$100k-60 Month Jumbo Certificate
2.00%$1,500-60 Month Basic Certificate
2.00%$1,500-48 Month Premier Share Draft Membership Certificate
2.00%$100k-48 Month Jumbo Certificate
1.75%$1,500-48 Month Basic Certificate
1.50%$100k-18 Month Jumbo Exchange Certificate
1.50%$1,500-18 Month Premier Share Draft Membership Exchange Certificate
1.25%$1,500-24 Month Premier Share Draft Membership Certificate
1.25%$100k-24 Month Jumbo Certificate
1.25%$1,500-18 Month Basic Exchange Certificate
1.00%$1,500-15 Month Premier Share Draft Membership Certificate
1.00%$1,500-24 Month Basic Certificate
1.00%$100k-15 Months Jumbo Certificate
0.75%$500-12 Month Premier Share Draft Membership Certificate
0.75%$1,500-15 Months Basic Certificate
0.75%$100k-12 Month Jumbo Certificate
0.50%$500-6 - 11 Months Basic Certificate
0.50%$500-3 - 5 Months Premier Share Draft Membership Certificate
0.50%$500-6 - 11 Months Premier Share Draft Membership Certificate
0.50%$500-12 Month Basic Certificate
0.50%$100k-3 - 5 Months Jumbo Certificate
0.50%$100k-6 - 11 Months Jumbo Certificate
0.25%$500-3 - 5 Months Basic Certificate

IRA Accounts

ApyMinMaxProduct
2.65%$2k-48 Month Roth IRA Premier Share Draft Membership Certificates
2.65%$2k-48 Month Traditional IRA Premier Share Draft Membership Certificates
2.65%$2k-48 Month Roth IRA Jumbo Certificates
2.65%$2k-48 Month Traditional IRA Jumbo Certificates
2.40%$2k-48 Month Traditional IRA Basic Certificates
2.40%$2k-48 Month Roth IRA Basic Certificates
1.90%$2k-36 Month Roth IRA Premier Share Draft Membership Certificates
1.90%$2k-36 Month Traditional IRA Premier Share Draft Membership Certificates
1.90%$2k-36 Month Roth IRA Jumbo Certificates
1.90%$2k-36 Month Traditional IRA Jumbo Certificates
1.65%$2k-36 Month Traditional IRA Basic Certificates
1.65%$2k-36 Month Roth IRA Basic Certificates
1.40%$2k-12 Month Roth IRA Premier Share Draft Membership Certificates
1.40%$2k-12 Month Traditional IRA Premier Share Draft Membership Certificates
1.40%$2k-12 Month Roth IRA Jumbo Certificates
1.40%$2k-12 Month Traditional IRA Jumbo Certificates
1.15%$2k-12 Month Roth IRA Basic Certificates
1.15%$2k-12 Month Traditional IRA Basic Certificates

Institution Statistics


NCUA #3439
BankRate ReportView
Year Established1939
Employees133
Primary Regulator

Assets and Liabilities

Assets$247.60 million
Loans$169.54 million
Deposits$226.32 million
Equity Capital$17.30 million
Loan Loss Allowance$462,000
Unbacked Noncurrent Loans$1.51 million
Real Estate Owned$789,000

Historic Data - March 2009

Assets$224.46 million
Equity Capital$18.64 million
Loan Loss Allowance$337,000
Unbacked Noncurrent Loans$174,000

Profit Margin - Quarterly

Net Interest Margin1.03%
Return on Assets1.4%
Return on Equity20.04%
Interest Income$2.46 million
Non-Interest Income$1.01 million

Institution Health


Overall Score:
3 out of 5
3
Texas Ratio5
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 March 1, 2010 Fairmont FCU had $2.3 million in non-current loans and owned real-estate with $17.77 million in equity and loan loss allowances on hand to cover it. This gives Fairmont FCU a Texas Ratio of 12.95% which is excellent. Any bank with a Texas Ratio near or greater than 100% is considered at risk.
Texas Ratio Trend0
The Texas Ratio for Fairmont FCU increased dramatically from 0.92% as of March 1, 2009 to 12.95% as of March 1, 2010, resulting in a negative change of 1,312.09%. This indicates that the balance sheet and financial strength for Fairmont FCU has declined dramatically in recent periods.
Deposit Growth5
In the past year, Fairmont FCU has increased it's total deposits by $25.25 million, resulting in 12.56% 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 Fairmont FCU has shown is excellent.
Capitalization1
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. Fairmont FCU has $247.6 million in assets with $17.77 million in equity, resulting in a capitalization level of 7.17%, which is poor.
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