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Overview / Commentary
330-652-3887
804 Warren Ave
Niles, OH 44446

First Choice Community Credit Union is headquartered in Niles and is the 145th largest credit union in the state of Ohio. It is also the 3,188th largest credit union in the nation. It was established in 1968 and as of December of 2013, it had grown to 7 employees and 4,158 members. First Choice Community Credit Union has a B+ health rating.

Field of Membership Restrictions

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Health

Data for Q4 2013

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. First Choice Community Credit Union has a low asset base.

Texas Ratio

GRADE:
A+

The Texas Ratio is an indicator of how much funds a bank has available compared to the total value of loans considered at risk. As of December 31, 2013 First Choice Community Credit Union had $155,000 in non-current loans and owned real-estate with $3.24 million in equity and loan loss allowances on hand to cover it. This gives First Choice Community Credit Union a Texas Ratio of 4.78% 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 Community Credit Union experienced no significant changes from 3.42% as of December 31, 2012 to 4.78% as of December 31, 2013, resulting in a negative change of 39.59%. This indicates that the balance sheet and financial strength for First Choice Community Credit Union has had no significant changes in recent periods.

Deposit Growth

GRADE:
A+

In the past year, First Choice Community Credit Union has increased its total deposits by $1.94 million, resulting in 9.69% 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 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 Community Credit Union has $25.1 million in assets with $3.24 million in equity, resulting in a capitalization level of 12.92%, which is excellent.

Institution Statistics

Overall
NCUA #60973
Year Chartered1968
Employees7
Primary Regulator
Assets and Liabilities
Assets$25.10 million
Loans$9.25 million
Deposits$21.91 million
Equity Capital$3.14 million
Loan Loss Allowance$101,000
Unbacked Noncurrent Loans$155,000
Real Estate Owned$0
Historic Data - December 2012
Assets$22.76 million
Equity Capital$2.74 million
Loan Loss Allowance$91,000
Unbacked Noncurrent Loans$155,000
Real Estate Owned$0
Profit Margin - Quarterly
Net Interest Margin6.43%
Return on Assets0.77%
Return on Equity6.17%
Interest Income$872,000
Rates

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Locations


First Choice Community Credit Union Locations
Branch Office804 Warren AveNiles, OH 44446-1139