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Overview / Commentary
575-887-6030
1105 W Pierce St
Carlsbad, NM 88220-4014

Financial Security is headquartered in Carlsbad and is the 22nd largest credit union in the state of New Mexico. It is also the 2,745th largest credit union in the nation. It was established in 1954 and as of March of 2014, it had grown to 12 employees and 3,487 members. Financial Security has a B+ health rating.

Field of Membership Restrictions

Must be residents living and/or working in Eddy County, New Mexico. - 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 Security 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 Security had $92,000 in non-current loans and owned real-estate with $4.49 million in equity and loan loss allowances on hand to cover it. This gives Financial Security a Texas Ratio of 2.05% 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 Security decreased dramatically from 4.47% as of March 31, 2013 to 2.05% as of March 31, 2014, resulting in a positive change of 54.18%.This indicates that the balance sheet and financial strength for Financial Security has improved dramatically in recent periods.

Deposit Growth

GRADE:
A+

In the past year, Financial Security has increased its total deposits by $4.23 million, resulting in 15.78% 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 Security has shown is excellent.

Capitalization

GRADE:
A+

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 Security has $35.64 million in assets with $4.49 million in equity, resulting in a capitalization level of 12.60%, which is excellent.

Institution Statistics

Overall
NCUA #62452
Year Chartered1954
Employees12
Primary Regulator
Assets and Liabilities
Assets$35.64 million
Loans$25.23 million
Deposits$31.05 million
Equity Capital$4.39 million
Loan Loss Allowance$97,000
Unbacked Noncurrent Loans$92,000
Real Estate Owned$0
Historic Data - March 2013
Assets$30.84 million
Equity Capital$3.86 million
Loan Loss Allowance$75,000
Unbacked Noncurrent Loans$92,000
Real Estate Owned$0
Profit Margin - Quarterly
Return on Assets1.49%
Return on Equity12.11%
Interest Income$400,000
Rates
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Financial Security Savings Account Rates

DetailsAPYMINMAXPRODUCT
0.50%--IRA Account
0.50%--CU Succeed College Savings
0.40%$50k-Regular Regular Shares
0.40%--Kirby Kangaroo Kids Club
0.40%--CU Succeed Teen Savings
0.40%--Christmas Club Account

Financial Security Checking Account Rates

DetailsAPYMINMAXPRODUCT
0.15%--Checking Account
0.15%--Senior Checking Account
0.15%--CU Succeed Checking
0.15%--18-25 Checking

Financial Security CD Rates

DetailsAPYMINMAXPRODUCT
1.00%$1k-2 Year Share Certificate
0.60%$1k-1 Year Share Certificate
0.45%$1k-6 Month Share Certificate
0.35%$100-3 Month CU Succeed Share Certificate

Financial Security IRA Rates

DetailsAPYMINMAXPRODUCT
1.00%$1k-2 Year IRA Share Certificate
0.60%$1k-1 Year IRA Share Certificate
0.45%$1k-6 Month IRA Share Certificate
Locations


Financial Security Locations
Branch Office1105 W Pierce StCarlsbad, NM 88220-4014