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First Choice America Community Credit Union

Overview / Commentary
800-427-4835
3501 Main St
Weirton, WV 26062

First Choice America Community Credit Union is headquartered in Weirton and is the largest credit union in the state of West Virginia. It is also the 538th largest credit union in the nation. It was established in 1939 and as of March of 2014, it had grown to 73 employees and 39,069 members. First Choice America Community Credit Union has a A+ health rating.

Field of Membership Restrictions

Must work, reside, worship or attend school in the City of Benwood, City of McMechen, Hancock County, Brooke County or Ohio County in West Virginia; City of Bellaire, City of Shadyside or Jefferson County in Ohio. Also open to those who live, work, worship or attend school in the following areas of Pennsylvania: Washington County, Hanover, Jefferson, Independence, Donegal, Smith, Cross Creek, Hopewell, Blaine, Buffalo, West Finley, East Finley, South Franklin or Morris Township. - See Details

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Health

Data for Q1 2014

Institution Health

A+

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 First Choice America Community Credit Union had $722,000 in non-current loans and owned real-estate with $57.62 million in equity and loan loss allowances on hand to cover it. This gives First Choice America Community Credit Union a Texas Ratio of 1.25% 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 First Choice America Community Credit Union experienced no significant changes from 1.11% as of March 31, 2013 to 1.25% as of March 31, 2014, resulting in a negative change of 12.94%. This indicates that the balance sheet and financial strength for First Choice America Community Credit Union has had no significant changes in recent periods.

Deposit Growth

GRADE:
A

In the past year, First Choice America Community Credit Union has increased its total deposits by $14.81 million, resulting in 4.43% 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 Choice America Community Credit Union 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. First Choice America Community Credit Union has $407.46 million in assets with $57.62 million in equity, resulting in a capitalization level of 14.14%, which is excellent.

Institution Statistics

Overall
NCUA #3264
Year Chartered1939
Employees73
Primary Regulator
Assets and Liabilities
Assets$407.46 million
Loans$129.18 million
Deposits$348.66 million
Equity Capital$56.86 million
Loan Loss Allowance$762,000
Unbacked Noncurrent Loans$322,000
Real Estate Owned$400,000
Historic Data - March 2013
Assets$391.13 million
Equity Capital$56.04 million
Loan Loss Allowance$746,000
Unbacked Noncurrent Loans$322,000
Real Estate Owned$202,000
Profit Margin - Quarterly
Net Interest Margin0.99%
Return on Assets0.15%
Return on Equity1.1%
Interest Income$2.23 million
Rates
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First Choice America Community Credit Union Savings Account Rates

DetailsAPYMINMAXPRODUCT
0.25%--Christmas Club
0.20%$40k-Regular Savings
0.20%$40k-Cool Kids Savings
0.15%--Vacation Club

First Choice America Community Credit Union Checking Account Rates

DetailsAPYMINMAXPRODUCT
0.08%$40k-Checking Account

First Choice America Community Credit Union CD Rates

DetailsAPYMINMAXPRODUCT
1.26%$500-120 Month Certificate
1.16%$500-84 Month Certificate
1.05%$500-72 Month Certificate
1.00%$500-60 Month Certificate
0.75%$500-48 Month Certificate
0.70%$500-39 Month Certificate
0.65%$500-36 Month Certificate
0.60%$500-30 Month Certificate
0.55%$500-25 Month Certificate
0.50%$500-24 Month Certificate
0.45%$500-18 Month Certificate
0.40%$500-15 Month Certificate
0.35%$500-12 Month Certificate
0.30%$500-7 Month Add-on Certificate
0.30%$500-9 Month Certificate
0.30%$100-7 Month Kid-Vantage Certificate
0.25%$500-6 Month Certificate
0.20%$500-91 Day Certificate

First Choice America Community Credit Union IRA Rates

DetailsAPYMINMAXPRODUCT
1.26%--120 Month IRA Certificate
1.16%--84 Month IRA Certificate
1.05%--72 Month IRA Certificate
1.00%--60 Month IRA Certificate
0.75%--48 Month IRA Certificate
0.70%--39 Month IRA Certificate
0.65%--36 Month IRA Certificate
0.60%--30 Month IRA Certificate
0.55%--25 Month IRA Certificate
0.50%--24 Month IRA Certificate
0.45%--18 Month IRA Certificate
0.40%--15 Month IRA Certificate
0.35%--12 Month IRA Certificate
0.30%--7 Month IRA Certificate
0.30%--9 Month IRA Certificate
0.25%--6 Month IRA Certificate
0.20%--91 Day IRA Certificate
Locations


First Choice America Community Credit Union Locations
Branch Office3501 Main StWeirton, WV 26062
Branch Office1 Medical ParkWheeling, WV 26003
Branch Office1A Elm Grove Crossing MallWheeling, WV 26003
Branch Office762 Canton RdWintersville, OH 43953
Branch Office300 Carolina AveChester, WV 26034
Branch Office1835 Sunset BlvdSteubenville, OH 43952
Branch Office370 Three Springs DrWeirton, WV 26062
Branch Office1990 Chapline StWheeling, WV 26003