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Overview / Commentary
260-632-4245
22440 Main St, P.O. Box 125
Woodburn, IN 46797

Financial Partners Credit Union is headquartered in Woodburn and is the 82nd largest credit union in the state of Indiana. It is also the 3,126th largest credit union in the nation. It was established in 1965 and as of December of 2013, it had grown to 10 employees and 3,630 members. Financial Partners Credit Union has a B+ health rating.

Field of Membership Restrictions

Must live or work in Cedar Creek, Springfield, Scipio, Milan, Maumee, Jefferson, Jackson, Marion, Madison or Monroe Township in East Allen County. - See Details

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Health

Data for Q4 2013

Institution Health

B+
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 Partners Credit Union has a low asset base.

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 Financial Partners Credit Union had $116,000 in non-current loans and owned real-estate with $2.62 million in equity and loan loss allowances on hand to cover it. This gives Financial Partners Credit Union a Texas Ratio of 4.43% 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 Financial Partners Credit Union experienced no significant changes from 4.09% as of December 31, 2012 to 4.43% as of December 31, 2013, resulting in a negative change of 8.49%. This indicates that the balance sheet and financial strength for Financial Partners Credit Union has had no significant changes in recent periods.

Deposit Growth

GRADE:
A+

In the past year, Financial Partners Credit Union has increased its total deposits by $1.59 million, resulting in 7.28% 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 Partners 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. Financial Partners Credit Union has $26.15 million in assets with $2.62 million in equity, resulting in a capitalization level of 10.00%, which is above average.

Institution Statistics

Overall
NCUA #16619
Year Chartered1965
Employees10
Primary Regulator
Assets and Liabilities
Assets$26.15 million
Loans$15.62 million
Deposits$23.47 million
Equity Capital$2.49 million
Loan Loss Allowance$126,000
Unbacked Noncurrent Loans$116,000
Real Estate Owned$0
Historic Data - December 2012
Assets$24.31 million
Equity Capital$2.39 million
Loan Loss Allowance$131,000
Unbacked Noncurrent Loans$116,000
Real Estate Owned$0
Profit Margin - Quarterly
Net Interest Margin4.45%
Return on Assets0.38%
Return on Equity4.02%
Interest Income$836,000
Rates
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Financial Partners Credit Union Savings Account Rates

DetailsAPYMINMAXPRODUCT
0.30%--IRA Share Savings Account
0.20%--Junior Partners Account
0.10%--Holiday Share Account
0.05%$250-Share Savings Account

Financial Partners Credit Union CD Rates

DetailsAPYMINMAXPRODUCT
1.05%--60 Month Certificate
0.90%--48 Month Certificate
0.65%--36 Month Certificate
0.45%--24 Month Certificate
0.30%--18 Month Certificate
0.20%--1 Week Super Seven Certificate
0.17%--12 Month Certificate
0.10%--6 Month Certificate

Financial Partners Credit Union IRA Rates

DetailsAPYMINMAXPRODUCT
1.15%--60 Month IRA Certificate (Traditional,Roth,CESA)
1.00%--48 Month IRA Certificate (Traditional,Roth,CESA)
0.75%--36 Month IRA Certificate (Traditional,Roth,CESA)
0.55%--24 Month IRA Certificate (Traditional,Roth,CESA)
0.27%--12 Month IRA Certificate (Traditional,Roth,CESA)
Locations


Financial Partners Credit Union Locations
Branch Office13309 Witmer RdGrabill, IN 46741
Branch Office22440 Main StWoodburn, IN 46797