First American Credit Union
First American Credit Union is headquartered in Casa Grande and is the 23rd largest credit union in the state of Arizona. It is also the 1,473rd largest credit union in the nation. It was established in 1962 and as of March of 2014, it had grown to 45 employees and 22,522 members. First American Credit Union's savings rates are 44% higher than the national average, and it has a B+ health rating.
Field of Membership Restrictions
Must live and work in the Casa Grande, Window Rock, and Gallup regions of Southwest Arizona and New Mexico. - See Details
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Data for Q1 2014
Institution Health
Texas Ratio
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 First American Credit Union had $891,000 in non-current loans and owned real-estate with $8.64 million in equity and loan loss allowances on hand to cover it. This gives First American Credit Union a Texas Ratio of 10.32% which is excellent. Any bank with a Texas Ratio near or greater than 100% is considered at risk.
Texas Ratio Trend
The Texas Ratio for First American Credit Union increased slightly from 3.23% as of March 31, 2013 to 10.32% as of March 31, 2014, resulting in a negative change of 219.41%. This indicates that the balance sheet and financial strength for First American Credit Union has declined slightly in recent periods.
Deposit Growth
In the past year, First American Credit Union has increased its total deposits by $10.19 million, resulting in 11.91% 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 First American Credit Union has shown is excellent.
Capitalization
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. First American Credit Union has $105.34 million in assets with $8.64 million in equity, resulting in a capitalization level of 8.20%, which is average.
Institution Statistics
| Overall | |
|---|---|
| NCUA # | 64412 |
| Year Chartered | 1962 |
| Employees | 45 |
| Primary Regulator |
| Assets and Liabilities | |
|---|---|
| Assets | $105.34 million |
| Loans | $61.72 million |
| Deposits | $95.76 million |
| Equity Capital | $7.70 million |
| Loan Loss Allowance | $934,000 |
| Unbacked Noncurrent Loans | $891,000 |
| Real Estate Owned | $0 |
| Historic Data - March 2013 | |
|---|---|
| Assets | $95.01 million |
| Equity Capital | $7.23 million |
| Loan Loss Allowance | $265,000 |
| Unbacked Noncurrent Loans | $891,000 |
| Real Estate Owned | $0 |
| Profit Margin - Quarterly | |
|---|---|
| Net Interest Margin | 1.44% |
| Return on Assets | 1.08% |
| Return on Equity | 14.75% |
| Interest Income | $1.05 million |
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First American Credit Union Savings Account Rates
| Details | APY | MIN | MAX | PRODUCT |
|---|---|---|---|---|
| 0.75% | - | $10k | REAL Saver - Qualifying | |
| 0.50% | $100 | - | IRA Savings Account | |
| 0.50% | $100 | - | Roth IRA Savings Account | |
| 0.20% | $10k | - | Regular Savings Account | |
| 0.01% | - | - | REAL Saver - Non Qualifying |
First American Credit Union Money Market Rates
| Details | APY | MIN | MAX | PRODUCT |
|---|---|---|---|---|
| 0.35% | $100k | - | Market Share Savings Account |
First American Credit Union Checking Account Rates
| Details | APY | MIN | MAX | PRODUCT |
|---|---|---|---|---|
| 2.03% | - | $10k | Reward Checking - Qualifyiing | |
| 0.25% | $1k | - | Premier Checking Account | |
| 0.01% | - | - | Reward Checking - Non Qualifyiing |
First American Credit Union CD Rates
| Details | APY | MIN | MAX | PRODUCT |
|---|---|---|---|---|
| 1.60% | $50k | $100k | 5 Year Share Certificate | |
| 1.10% | $50k | $100k | 3 Year Share Certificate | |
| 0.90% | $50k | $100k | 2 Year Share Certificate | |
| 0.66% | $50k | $100k | 18 Month Share Certificate | |
| 0.60% | $50k | $100k | 1 Year Share Certificate | |
| 0.46% | $50k | $100k | 6 Month Share Certificate |
First American Credit Union IRA Rates
| Details | APY | MIN | MAX | PRODUCT |
|---|---|---|---|---|
| 1.60% | $50k | $100k | 5 Year IRA Certificate | |
| 1.10% | $50k | $100k | 3 Year IRA Certificate | |
| 0.90% | $50k | $100k | 2 Year IRA Certificate | |
| 0.66% | $50k | $100k | 18 Month IRA Certificate | |
| 0.60% | $50k | $100k | 1 Year IRA Certificate | |
| 0.46% | $50k | $100k | 6 Month IRA Certificate |
| First American Credit Union Locations | ||
|---|---|---|
| Branch Office | Hwy 264 Rt 12 | Window Rock, AZ 86515 |
| Branch Office | 1375 US Highway 491 Mesa View Plaza | Gallup, NM 87301 |
| Branch Office | 1001 N Pinal Ave | Casa Grande, AZ 85122 |