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Overview / Commentary
304-363-5320
401 10th St
Fairmont, WV 26554-3601

Fairmont Federal Credit Union is headquartered in Fairmont and is the 3rd largest credit union in the state of West Virginia. It is also the 693rd largest credit union in the nation. It was established in 1939 and as of March of 2014, it had grown to 126 employees and 37,919 members. Fairmont Federal Credit Union's money market rates are 36% higher than the national average, and it has a B+ health rating.

Field of Membership Restrictions

In Marion, Monongalia, Harrison and Taylor counties: Persons who live, work, worship volunteer or go to school in, and businesses and other legal entities located within these counties. In Preston County: Employees of Valley Health Care. - See Details

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Reviews (1)

VERY DIFFICULT TO CONTACT VIA PHONE & CUSTOMER SERVICE WAS UNSURE HOW TO HELP...SAD

I am very dis-pleased with the the lack of customer service provided. This credit union was great but they have gone down hill in regards to customer service. When I tried to reach a live representative 38 minutes had passed and it took me three attempts...then I was transferred to a dead connection because the live agent said that she could not help!?!...VERY SAD



Health

Data for Q1 2014

Institution Health

B+

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 Fairmont Federal Credit Union had $811,000 in non-current loans and owned real-estate with $24.46 million in equity and loan loss allowances on hand to cover it. This gives Fairmont Federal Credit Union a Texas Ratio of 3.32% 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 Fairmont Federal Credit Union experienced no significant changes from 1.92% as of March 31, 2013 to 3.32% as of March 31, 2014, resulting in a negative change of 73.03%. This indicates that the balance sheet and financial strength for Fairmont Federal Credit Union has had no significant changes in recent periods.

Deposit Growth

GRADE:
B+

In the past year, Fairmont Federal Credit Union has increased its total deposits by $5.61 million, resulting in 2.08% 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 Federal Credit Union has shown is above 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. Fairmont Federal Credit Union has $303.54 million in assets with $24.46 million in equity, resulting in a capitalization level of 8.06%, which is average.

Institution Statistics

Overall
NCUA #3439
Year Chartered1939
Employees126
Primary Regulator
Assets and Liabilities
Assets$303.54 million
Loans$226.16 million
Deposits$275.27 million
Equity Capital$24.03 million
Loan Loss Allowance$423,000
Unbacked Noncurrent Loans$149,000
Real Estate Owned$662,000
Historic Data - March 2013
Assets$296.29 million
Equity Capital$21.30 million
Loan Loss Allowance$513,000
Unbacked Noncurrent Loans$149,000
Real Estate Owned$287,000
Profit Margin - Quarterly
Net Interest Margin0.85%
Return on Assets0.41%
Return on Equity5.21%
Interest Income$2.26 million
Rates

Always verify rates and promotions with the bank or credit union. We are not Fairmont Federal Credit Union, we are a rate comparison website and can not provide official rates or promotions.

Fairmont Federal Credit Union Savings Account Rates

DetailsAPYMINMAXPRODUCT
0.50%--IRA Traditional Club
0.50%--IRA Roth Club
0.50%--IRA Education Club
0.15%$50-Share Savings
0.15%--Christmas Club
0.15%--Other Clubs
0.10%$50-Business Share Savings

Fairmont Federal Credit Union Money Market Rates

DetailsAPYMINMAXPRODUCT
0.60%$100k-E-Z Money Manager

Fairmont Federal Credit Union Checking Account Rates

DetailsAPYMINMAXPRODUCT
2.00%-$10kKasasa Cash - Qualifying
0.35%$2k-Priority Choice Checking
0.20%$100k-Basic Business Checking
0.20%$100k-Business Checking II
0.20%$100k-Business Checking Exempt
0.20%$100k-Business Checking Tiering Method A
0.05%--Kasasa Cash - Non Qualifying

Fairmont Federal Credit Union CD Rates

DetailsAPYMINMAXPRODUCT
1.25%$1,500-60 Month Premier Share Draft Membership Certificate
1.25%$100k-60 Month Jumbo Certificate
1.00%$1,500-60 Month Basic Certificate
1.00%$1,500-48 Month Premier Share Draft Membership Certificate
1.00%$100k-48 Month Jumbo Certificate
0.75%$1,500-48 Month Basic Certificate
0.75%$1,500-15 Month Premier Share Draft Membership Certificate
0.75%$100k-15 Month Jumbo Certificate
0.65%$1,500-24 Month Premier Share Draft Membership Certificate
0.65%$100k-24 Month Jumbo Certificate
0.50%$1,500-15 Month Basic Certificate
0.50%$500-12 Month Premier Share Draft Membership Certificate
0.50%$100k-12 Month Jumbo Certificate
0.40%$1,500-24 Month Basic Certificate
0.40%$500-3 - 5 Month Premier Share Draft Membership Certificate
0.40%$500-6 - 11 Month Premier Share Draft Membership Certificate
0.40%$100k-3 - 5 Month Jumbo Certificate
0.40%$100k-6 - 11 Month Jumbo Certificate
0.25%$500-12 Month Basic Certificate
0.15%$500-3 - 5 Month Basic Certificate
0.15%$500-6 - 11 Month Basic Certificate

Fairmont Federal Credit Union IRA Rates

DetailsAPYMINMAXPRODUCT
1.24%$2k-48 Month Traditional IRA Premier Share Draft Membership Certificate
1.24%$2k-48 Month Traditional IRA Jumbo Certificate
1.00%$2k-48 Month Traditional IRA Basic Certificate
1.00%$2k-36 Month Traditional IRA Premier Share Draft Membership Certificate
1.00%$2k-36 Month Traditional IRA Jumbo Certificate
0.75%$2k-36 Month Roth IRA Basic Certificate
0.75%$2k-12 Month Traditional IRA Premier Share Draft Membership Certificate
0.75%$2k-12 Month Traditional IRA Jumbo Certificate
0.50%$2k-12 Month Traditional IRA Basic Certificate
0.50%$2k-36 Month Traditional IRA Basic Certificate
Locations


Fairmont Federal Credit Union Locations
Branch Office652 Pennsylvania AveFairmont, WV 26554
Branch Office540 S Pike St Shop-N-SaveShinnston, WV 26431-1128
Branch Office9912 Mall LoopFairmont, WV 26554
Branch Office12 Lawless RdMorgantown, WV 26501-2018
Branch Office1254 Pineview DrMorgantown, WV 26505-2731
Branch Office5160 Husky HwyMannington, WV 26582-7154
Branch Office680 Genesis BlvdBridgeport, WV 26330
Branch Office1228 Country Club RdFairmont, WV 26554-2369
Branch Office1315 Morgantown AveFairmont, WV 26554
Branch Office401 10th StFairmont, WV 26554-3601