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Overview / Commentary
559-584-0922
312 W 7th St
Hanford, CA 93230

FAST Federal Credit Union is headquartered in HANFORD and is the 140th largest credit union in the state of California. It is also the 1,359th largest credit union in the nation. It was established in 1954 and as of December of 2013, it had grown to 32 employees and 13,715 members. FAST Federal Credit Union has a A health rating.

Field of Membership Restrictions

Membership is open to anyone who lives, works, or worship in Kings County. Membership requires a minimum balance of $25 in the FAST savings account. - See Details

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Health

Data for Q4 2013

Institution Health

A

Texas Ratio

GRADE:
A+

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 December 31, 2013 FAST Federal Credit Union had $259,000 in non-current loans and owned real-estate with $11.16 million in equity and loan loss allowances on hand to cover it. This gives FAST Federal Credit Union a Texas Ratio of 2.32% 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 FAST Federal Credit Union experienced no significant changes from 1.04% as of December 31, 2012 to 2.32% as of December 31, 2013, resulting in a negative change of 123.94%. This indicates that the balance sheet and financial strength for FAST Federal Credit Union has had no significant changes in recent periods.

Deposit Growth

GRADE:
A+

In the past year, FAST Federal Credit Union has increased its total deposits by $5.88 million, resulting in 6.07% 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 FAST Federal Credit Union has shown is excellent.

Capitalization

GRADE:
B

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. FAST Federal Credit Union has $115.15 million in assets with $11.16 million in equity, resulting in a capitalization level of 9.69%, which is above average.

Institution Statistics

Overall
NCUA #9109
Year Chartered1954
Employees32
Primary Regulator
Assets and Liabilities
Assets$115.15 million
Loans$42.23 million
Deposits$102.90 million
Equity Capital$10.74 million
Loan Loss Allowance$412,000
Unbacked Noncurrent Loans$125,000
Real Estate Owned$134,000
Historic Data - December 2012
Assets$109.92 million
Equity Capital$10.25 million
Loan Loss Allowance$457,000
Unbacked Noncurrent Loans$125,000
Real Estate Owned$0
Profit Margin - Quarterly
Net Interest Margin5.66%
Return on Assets0.43%
Return on Equity4.59%
Interest Income$2.73 million
Rates
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FAST Federal Credit Union Savings Account Rates

DetailsAPYMINMAXPRODUCT
0.22%$10k-Classic Club Share Savings
0.19%$10k-Regular Share Savings
0.19%$10k-Dollar Dog Child Account
0.19%$10k-Cha-Ching Teen Club Account
0.19%$10k-Uniform Transfer to Minors
0.19%$10k-Vacation Club Savings Account
0.19%$10k-Christmas Club Savings Account
0.10%$500-IRA Share Savings
0.10%$500-Roth IRA Share Savings
0.10%$500-Educational IRA Share Savings

FAST Federal Credit Union Checking Account Rates

DetailsAPYMINMAXPRODUCT
2.01%-$20kReward Checking
0.10%--Reward Checking
0.05%$5k-Classic Club Checking
0.05%$5k-Elite Checking
0.05%$10k-Business Checking
0.05%$5k-Organization Checking

FAST Federal Credit Union CD Rates

DetailsAPYMINMAXPRODUCT
0.86%$2,500-3 Year Classic Club Share Savings Certificate
0.83%$500-3 Year Share Savings Certificate
0.83%$2,500-3 Year Share Savings Certificate
0.45%$2,500-2 Year Classic Club Share Savings Certificate
0.41%$500-2 Year Share Savings Certificate
0.41%$2,500-2 Year Share Savings Certificate
0.35%$2,500-1 Year Classic Club Share Savings Certificate
0.33%$500-1 Year Share Savings Certificate
0.33%$2,500-1 Year Share Savings Certificate
0.25%$2,500-6 Month Classic Club Share Savings Certificate
0.21%$500-6 Month Share Savings Certificate
0.21%$2,500-6 Month Share Savings Certificate

FAST Federal Credit Union IRA Rates

DetailsAPYMINMAXPRODUCT
0.86%--3 Year Traditional IRA Share Savings Certificate (Traditional,Roth,CESA)
0.45%--2 Year Traditional IRA Share Savings Certificate (Traditional,Roth,CESA)
0.35%--1 Year Traditional IRA Share Savings Certificate (Traditional,Roth,CESA)
Locations


FAST Federal Credit Union Locations
Branch Office312 W 7th StHanford, CA 93230
Branch Office200 Follett StLemoore, CA 93245
Branch Office744 Skyline BlvdAvenal, CA 93204