First Basin Credit Union
First Basin Credit Union is headquartered in Odessa and is the 82nd largest credit union in the state of Texas. It is also the 927th largest credit union in the nation. It was established in 1965 and as of March of 2014, it had grown to 77 employees and 21,710 members. First Basin Credit Union has a B+ health rating.
Field of Membership Restrictions
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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 Basin Credit Union had $701,000 in non-current loans and owned real-estate with $16.93 million in equity and loan loss allowances on hand to cover it. This gives First Basin Credit Union a Texas Ratio of 4.13% 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 Basin Credit Union experienced no significant changes from 3.88% as of March 31, 2013 to 4.13% as of March 31, 2014, resulting in a negative change of 6.48%. This indicates that the balance sheet and financial strength for First Basin Credit Union has had no significant changes in recent periods.
Deposit Growth
In the past year, First Basin Credit Union has increased its total deposits by $2.77 million, resulting in 1.53% 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 Basin Credit Union has shown is above average.
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 Basin Credit Union has $202.33 million in assets with $16.93 million in equity, resulting in a capitalization level of 8.37%, which is average.
Institution Statistics
| Overall | |
|---|---|
| NCUA # | 67609 |
| Year Chartered | 1965 |
| Employees | 77 |
| Primary Regulator |
| Assets and Liabilities | |
|---|---|
| Assets | $202.33 million |
| Loans | $100.39 million |
| Deposits | $183.70 million |
| Equity Capital | $15.92 million |
| Loan Loss Allowance | $1.01 million |
| Unbacked Noncurrent Loans | $362,000 |
| Real Estate Owned | $339,000 |
| Historic Data - March 2013 | |
|---|---|
| Assets | $200.34 million |
| Equity Capital | $14.52 million |
| Loan Loss Allowance | $1.06 million |
| Unbacked Noncurrent Loans | $362,000 |
| Real Estate Owned | $514,000 |
| Profit Margin - Quarterly | |
|---|---|
| Net Interest Margin | 1.26% |
| Return on Assets | 0.98% |
| Return on Equity | 12.49% |
| Interest Income | $1.50 million |
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First Basin Credit Union Savings Account Rates
| Details | APY | MIN | MAX | PRODUCT |
|---|---|---|---|---|
| 0.25% | $1k | - | Regular Share Account | |
| 0.25% | - | - | Kids' Club Account | |
| 0.25% | $500 | - | Christmas Club Account | |
| 0.25% | $500 | - | Vacation Club Account |
First Basin Credit Union Money Market Rates
| Details | APY | MIN | MAX | PRODUCT |
|---|---|---|---|---|
| 0.30% | $25k | - | Platinum Money Market Account |
First Basin Credit Union Checking Account Rates
| Details | APY | MIN | MAX | PRODUCT |
|---|---|---|---|---|
| 0.10% | $500 | - | Checking Plus Account |
First Basin Credit Union CD Rates
| Details | APY | MIN | MAX | PRODUCT |
|---|---|---|---|---|
| 1.50% | $1k | - | 60 Month CD | |
| 1.30% | $1k | - | 36 Month CD | |
| 1.00% | $1k | - | 24 Month CD | |
| 0.50% | $1k | - | 12 Month CD | |
| 0.30% | $1k | - | 6 Month CD |
First Basin Credit Union IRA Rates
| Details | APY | MIN | MAX | PRODUCT |
|---|---|---|---|---|
| 1.50% | $1k | - | 60 Month IRA | |
| 1.30% | $1k | - | 36 Month IRA | |
| 1.00% | $1k | - | 24 Month IRA | |
| 0.50% | $1k | - | 12 Month IRA |
| First Basin Credit Union Locations | ||
|---|---|---|
| Branch Office | 2740 N County Rd W | Odessa, TX 79764 |
| Branch Office | 713 Golder Ave | Odessa, TX 79761-4414 |
| Branch Office | 1010 E 8th St | Odessa, TX 79761 |
| Branch Office | 5509 Andrews Hwy | Midland, TX 79706 |
| Branch Office | 1205 NE 1st St | Andrews, TX 79714 |
| Branch Office | 4217 N Grandview Ave | Odessa, TX 79762-5843 |
| Branch Office | 3316 N Midland Dr | Midland, TX 79707 |