Fairmont Federal Credit Union

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

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 712st largest credit union in the nation. It was established in 1939 and as of September of 2011, it had grown to 123 employees and 37,890 members. Fairmont Federal Credit Union's savings rates are 44% higher than the national average, and it boasts a 5-star health rating.

Fairmont Federal Credit Union Routing Number: 251578844

Related Posts

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

Fairmont Federal Credit Union Checking Account Rates

ApyMinMaxProduct
0.45%$250k-Basic Business Checking
0.45%$250k-Business Checking II
0.45%$250k-Business Checking Exempt
0.35%$2k-Priority Choice Checking

Fairmont Federal Credit Union Savings Account Rates

ApyMinMaxProduct
0.75%--IRA Traditional Club
0.75%--IRA Roth Club
0.75%--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

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

Fairmont Federal Credit Union CD Rates

ApyMinMaxProduct
1.75%$1,500-60 Month Premier Share Draft Membership Certificate
1.75%$100k-60 Month Jumbo Certificate
1.50%$1,500-60 Month Basic Certificate
1.50%$1,500-48 Month Premier Share Draft Membership Certificate
1.50%$100k-48 Month Jumbo Certificate
1.25%$1,500-48 Month Basic Certificate
0.75%$1,500-15 Month Premier Share Draft Membership Certificate
0.75%$1,500-24 Month Premier Share Draft Membership Certificate
0.75%$100k-15 Months Jumbo Certificate
0.65%$500-12 Month Premier Share Draft Membership Certificate
0.65%$100k-12 Month Jumbo Certificate
0.50%$1,500-15 Months Basic Certificate
0.50%$1,500-24 Month Basic Certificate
0.50%$100k-24 Month Jumbo Certificate
0.40%$500-12 Month Basic Certificate
0.40%$500-3 - 5 Months Premier Share Draft Membership Certificate
0.40%$500-6 - 11 Months Premier Share Draft Membership Certificate
0.40%$100k-3 - 5 Months Jumbo Certificate
0.40%$100k-6 - 11 Months Jumbo Certificate
0.15%$500-3 - 5 Months Basic Certificate
0.15%$500-6 - 11 Months Basic Certificate

Fairmont Federal Credit Union IRA Rates

ApyMinMaxProduct
2.00%$2k-48 Month Roth IRA Premier Share Draft Membership Certificates
2.00%$2k-48 Month Traditional IRA Premier Share Draft Membership Certificates
2.00%$2k-48 Month Roth IRA Jumbo Certificates
2.00%$2k-48 Month Traditional IRA Jumbo Certificates
1.75%$2k-48 Month Traditional IRA Basic Certificates
1.75%$2k-48 Month Roth IRA Basic Certificates
1.25%$2k-36 Month Roth IRA Premier Share Draft Membership Certificates
1.25%$2k-36 Month Traditional IRA Premier Share Draft Membership Certificates
1.25%$2k-36 Month Roth IRA Jumbo Certificates
1.25%$2k-36 Month Traditional IRA Jumbo Certificates
1.15%$2k-12 Month Roth IRA Premier Share Draft Membership Certificates
1.15%$2k-12 Month Traditional IRA Premier Share Draft Membership Certificates
1.15%$2k-12 Month Roth IRA Jumbo Certificates
1.15%$2k-12 Month Traditional IRA Jumbo Certificates
1.00%$2k-36 Month Traditional IRA Basic Certificates
1.00%$2k-36 Month Roth IRA Basic Certificates
0.90%$2k-12 Month Traditional IRA Basic Certificates
0.90%$2k-12 Month Roth IRA Basic Certificates

Rates updated: 2/7/2012

Data for Q3 2011


Institution Statistics


FAIRMONT
NCUA #3439
BankRate ReportView
Year Established1939
Employees123
Primary Regulator

Assets and Liabilities

Assets$257.16 million
Loans$181.06 million
Deposits$233.74 million
Equity Capital$19.52 million
Loan Loss Allowance$533,000
Unbacked Noncurrent Loans$790,000
Real Estate Owned$5,000

Historic Data - September 2010

Assets$239.57 million
Equity Capital$17.45 million
Loan Loss Allowance$465,000
Unbacked Noncurrent Loans$1.16 million
Real Estate Owned$1.06 million

Profit Margin - Quarterly

Net Interest Margin3.17%
Return on Assets0.4%
Return on Equity5.32%
Interest Income$7.39 million
Non-Interest Income$3.87 million

Institution Health


Overall Score:
5 out of 5
5
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 September 30, 2011 Fairmont Federal Credit Union had $795,000 in non-current loans and owned real-estate with $20.05 million in equity and loan loss allowances on hand to cover it. This gives Fairmont Federal Credit Union a Texas Ratio of 3.97% which is excellent. Any bank with a Texas Ratio near or greater than 100% is considered at risk.
Texas Ratio Trend5
The Texas Ratio for Fairmont Federal Credit Union decreased significantly from 12.43% as of September 30, 2010 to 3.97% as of September 30, 2011, resulting in a positive change of 68.09%.This indicates that the balance sheet and financial strength for Fairmont Federal Credit Union has improved significantly in recent periods.
Deposit Growth5
In the past year, Fairmont Federal Credit Union has increased its total deposits by $15.1 million, resulting in 6.9% 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 excellent.
Capitalization2
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 $257.16 million in assets with $20.05 million in equity, resulting in a capitalization level of 7.80%, which is below average.
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