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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 83rd largest credit union in the state of Indiana. It is also the 3,181st largest credit union in the nation. It was established in 1965 and as of March of 2014, it had grown to 9 employees and 3,635 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 Q1 2014

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 capital a bank has available compared to the total value of loans considered at risk. As of March 31, 2014 Financial Partners Credit Union had $60,000 in non-current loans and owned real-estate with $2.59 million in equity and loan loss allowances on hand to cover it. This gives Financial Partners 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:
A+

The Texas Ratio for Financial Partners Credit Union decreased dramatically from 4.07% as of March 31, 2013 to 2.32% as of March 31, 2014, resulting in a positive change of 43.14%.This indicates that the balance sheet and financial strength for Financial Partners Credit Union has improved dramatically in recent periods.

Deposit Growth

GRADE:
C

In the past year, Financial Partners Credit Union has decreased its total deposits by $-259,000, resulting in -1.11% 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 average.

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 $25.82 million in assets with $2.59 million in equity, resulting in a capitalization level of 10.03%, which is above average.

Institution Statistics

Overall
NCUA #16619
Year Chartered1965
Employees9
Primary Regulator
Assets and Liabilities
Assets$25.82 million
Loans$15.57 million
Deposits$23.06 million
Equity Capital$2.50 million
Loan Loss Allowance$91,000
Unbacked Noncurrent Loans$60,000
Real Estate Owned$0
Historic Data - March 2013
Assets$25.93 million
Equity Capital$2.40 million
Loan Loss Allowance$131,000
Unbacked Noncurrent Loans$60,000
Real Estate Owned$0
Profit Margin - Quarterly
Net Interest Margin1.11%
Return on Assets0.15%
Return on Equity1.6%
Interest Income$207,000
Rates
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Financial Partners Credit Union Savings Account Rates

DetailsAPYMINMAXPRODUCT
0.30%--IRA Savings
0.30%--Roth IRA Savings
0.30%--Educational IRA Savings
0.20%--Junior Partner Account
0.20%$10k-Super 7 Account
0.10%--Holiday Share
0.05%$250-Share Savings

Financial Partners Credit Union CD Rates

DetailsAPYMINMAXPRODUCT
1.25%$250-36 Month Share Certificate
1.05%$250-60 Month Share Certificate
0.90%$250-24 Month Share Certificate
0.90%$250-48 Month Share Certificate
0.75%$250-18 Month Share Certificate
0.40%$250-12 Month Share Certificate
0.10%$250-6 Month Share Certificate

Financial Partners Credit Union IRA Rates

DetailsAPYMINMAXPRODUCT
1.35%$250-36 Month IRA Certificate
1.15%$250-60 Month IRA Certificate
1.00%$250-24 Month IRA Certificate
1.00%$250-48 Month IRA Certificate
0.50%$250-12 Month IRA Certificate
Locations


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