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724-652-8393
2209 W State St
New Castle, PA 16101-1138

First Choice Credit Union is headquartered in New Castle and is the 132nd largest credit union in the state of Pennsylvania. It is also the 2,613st largest credit union in the nation. It was established in 1952 and as of March of 2014, it had grown to 10 employees and 5,869 members. First Choice Credit Union's savings rates are 94% higher than the national average, and it has a B health rating.

Field of Membership Restrictions

Must live, work or worship in Lawrence County. - 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. First Choice Credit Union 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 First Choice Credit Union had $80,000 in non-current loans and owned real-estate with $3.56 million in equity and loan loss allowances on hand to cover it. This gives First Choice Credit Union a Texas Ratio of 2.25% 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 Credit Union experienced no significant changes from 0.97% as of March 31, 2013 to 2.25% as of March 31, 2014, resulting in a negative change of 132.12%. This indicates that the balance sheet and financial strength for First Choice Credit Union has had no significant changes in recent periods.

Deposit Growth

GRADE:
B

In the past year, First Choice Credit Union has increased its total deposits by $111,000, resulting in 0.31% 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 Credit Union has shown is above average.

Capitalization

GRADE:
C+

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 Credit Union has $39.43 million in assets with $3.56 million in equity, resulting in a capitalization level of 9.03%, which is average.

Institution Statistics

Overall
NCUA #8229
Year Chartered1952
Employees10
Primary Regulator
Assets and Liabilities
Assets$39.43 million
Loans$18.73 million
Deposits$35.88 million
Equity Capital$3.49 million
Loan Loss Allowance$74,000
Unbacked Noncurrent Loans$80,000
Real Estate Owned$0
Historic Data - March 2013
Assets$39.16 million
Equity Capital$3.42 million
Loan Loss Allowance$96,000
Unbacked Noncurrent Loans$80,000
Real Estate Owned$0
Profit Margin - Quarterly
Net Interest Margin0.99%
Return on Assets-0.01%
Return on Equity-0.11%
Interest Income$243,000
Rates
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First Choice Credit Union Savings Account Rates

DetailsAPYMINMAXPRODUCT
1.01%--IRA Share Account
0.35%--Christmas Club Account
0.35%--Vacation Club Account
0.25%--Regular Share Account
0.15%--Escrow Account
0.03%--Loan Collateral Account
Locations


First Choice Credit Union Locations
Branch Office2209 W State StNew Castle, PA 161011138
Branch Office1400 Wilmington AveNew Castle, PA 16105-2505