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Overview / Commentary
2209 W State St
New Castle, PA 16101

First Choice Credit Union is headquartered in New Castle and is the 137th largest credit union in the state of Pennsylvania. It is also the 2,631st largest credit union in the nation. It was established in 1952 and as of December of 2013, it had grown to 10 employees and 5,745 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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Data for Q4 2013

Institution Health

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


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 Credit Union had $4,000 in non-current loans and owned real-estate with $3.55 million in equity and loan loss allowances on hand to cover it. This gives First Choice Credit Union a Texas Ratio of 0.11% 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 Choice Credit Union decreased dramatically from 1.18% as of December 31, 2012 to 0.11% as of December 31, 2013, resulting in a positive change of 90.44%.This indicates that the balance sheet and financial strength for First Choice Credit Union has improved dramatically in recent periods.

Deposit Growth


In the past year, First Choice Credit Union has increased its total deposits by $828,000, resulting in 2.46% 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.



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 $38.02 million in assets with $3.55 million in equity, resulting in a capitalization level of 9.35%, which is average.

Institution Statistics

NCUA #8229
Year Chartered1952
Primary Regulator
Assets and Liabilities
Assets$38.02 million
Loans$19.39 million
Deposits$34.51 million
Equity Capital$3.47 million
Loan Loss Allowance$86,000
Unbacked Noncurrent Loans$4,000
Real Estate Owned$0
Historic Data - December 2012
Assets$37.14 million
Equity Capital$3.39 million
Loan Loss Allowance$96,000
Unbacked Noncurrent Loans$4,000
Real Estate Owned$0
Profit Margin - Quarterly
Net Interest Margin3.91%
Return on Assets0.36%
Return on Equity3.95%
Interest Income$1.00 million
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First Choice Credit Union Savings Account Rates

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

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