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Overview / Commentary
510-433-9200
1528 Webster St
Alameda, CA 94501

Financial Benefits Credit Union is headquartered in Alameda and is the 281st largest credit union in the state of California. It is also the 3,611st largest credit union in the nation. It was established in 1931 and as of March of 2014, it had grown to 5 employees and 2,772 members. Financial Benefits Credit Union has a C+ health rating.

Field of Membership Restrictions

Must live or work in the City of Alameda or be an employee of any company belonging to the Better Business Bureau of Northern California or the Emeryville Chamber of Commerce. - See Details

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Health

Data for Q1 2014

Institution Health

C+
Additional Factors: Institutions with a small asset base or a short operating history can represent an instability risk beyond what their financial ratios indicate. Financial Benefits Credit Union has a low asset base.

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 Financial Benefits Credit Union had $0 in non-current loans and owned real-estate with $1.65 million in equity and loan loss allowances on hand to cover it. This gives Financial Benefits Credit Union a Texas Ratio of 0.00% which is excellent. Any bank with a Texas Ratio near or greater than 100% is considered at risk.

Deposit Growth

GRADE:
C-

In the past year, Financial Benefits Credit Union has decreased its total deposits by $-789,000, resulting in -4.3% 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 Financial Benefits Credit Union has shown is below 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. Financial Benefits Credit Union has $19.22 million in assets with $1.65 million in equity, resulting in a capitalization level of 8.58%, which is average.

Institution Statistics

Overall
NCUA #61125
Year Chartered1931
Employees5
Primary Regulator
Assets and Liabilities
Assets$19.22 million
Loans$15.40 million
Deposits$17.58 million
Equity Capital$1.58 million
Loan Loss Allowance$64,000
Real Estate Owned$0
Historic Data - March 2013
Assets$19.90 million
Equity Capital$1.48 million
Loan Loss Allowance$63,000
Real Estate Owned$0
Profit Margin - Quarterly
Return on Assets0.21%
Return on Equity2.53%
Interest Income$236,000
Rates

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Financial Benefits Credit Union Savings Account Rates

DetailsAPYMINMAXPRODUCT
0.40%--IRA Share Account
0.40%--Roth IRA Share Account
0.40%--Educational Savings Account
0.25%$25-Youth Share (ages 0 - 12)
0.25%$25-Teen Share (ages 13 - 17)
0.15%--Christmas Club Account
0.10%$300-Membership Share Account

Financial Benefits Credit Union Money Market Rates

DetailsAPYMINMAXPRODUCT
0.15%$2,500-Market Daily Account

Financial Benefits Credit Union Checking Account Rates

DetailsAPYMINMAXPRODUCT
0.05%$1k-Share Draft Account

Financial Benefits Credit Union CD Rates

DetailsAPYMINMAXPRODUCT
0.80%$300-36 Month CD
0.60%$300-24 Month CD
0.40%$300-12 Month CD
0.30%$300-6 Month CD
0.20%$300-3 Month CD

Financial Benefits Credit Union IRA Rates

DetailsAPYMINMAXPRODUCT
0.90%$300-36 Month IRA Certificate
0.70%$300-24 Month IRA Certificate
0.50%$300-12 Month IRA Certificate
Locations


Financial Benefits Credit Union Locations
Branch Office1528 Webster StAlameda, CA 94501