First Financial CU (CA) is headquartered in West Covina and is the 75th largest credit union in the state of California. It is also the 509th largest credit union in the nation. It was established in 1974 and as of March of 2014, it had grown to 129 employees and 32,471 members. First Financial CU (CA) has a B+ health rating.
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Poorly run, poorly managed, extremely high turn over in staff and management. Expenses and overhead are out of control. Very difficult to get a loan approved and funded. Getting a simple task done from the call center is a ordeal mainly due to management and staff unprepared and unable to perform the tasks. They staff lacks training and tenure with the company to handle the most remedial function. Beware, do not open an account or take a loan out with this poorly managed credit union. You will regret it.
KEEP AWAY FROM THIS CREDIT UNION.
This credit union has poor customer service and the loans are very difficult to acquire. The credit union staff has a very high turn over. They could have someone who is knowledgeable one week and that person would be gone. The management in the call center are not helpful at all and I have experienced were the management would leave the representative to deal with the customer instead of helping the customer.
The loan process is ridiculous also, I attempted to acquire a collateral loan with my vehicle that is worth $8K and I was only asking for $2500.00, but was turned down. The branch staff is no better, again the turn over rate is ridiculous, and the upper management does not seem to care.
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 Financial CU (CA) had $2.3 million in non-current loans and owned real-estate with $38.42 million in equity and loan loss allowances on hand to cover it. This gives First Financial CU (CA) a Texas Ratio of 5.99% which is excellent. Any bank with a Texas Ratio near or greater than 100% is considered at risk.
The Texas Ratio for First Financial CU (CA) decreased dramatically from 11.32% as of March 31, 2013 to 5.99% as of March 31, 2014, resulting in a positive change of 47.08%.This indicates that the balance sheet and financial strength for First Financial CU (CA) has improved dramatically in recent periods.
In the past year, First Financial CU (CA) has decreased its total deposits by -$17.25 million, resulting in -4.18% 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 Financial CU (CA) has shown is below 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 Financial CU (CA) has $435.32 million in assets with $38.42 million in equity, resulting in a capitalization level of 8.83%, which is average.
|Assets and Liabilities|
|Equity Capital||$35.25 million|
|Loan Loss Allowance||$3.17 million|
|Unbacked Noncurrent Loans||$1.99 million|
|Real Estate Owned||$315,000|
|Historic Data - March 2013|
|Equity Capital||$33.14 million|
|Loan Loss Allowance||$6.62 million|
|Unbacked Noncurrent Loans||$1.99 million|
|Real Estate Owned||$458,000|
|Profit Margin - Quarterly|
|Net Interest Margin||1.32%|
|Return on Assets||0.48%|
|Return on Equity||5.95%|
|Interest Income||$4.66 million|
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|0.10%||$500||-||Super Savers With 5+ electives|
|0.09%||$500||-||Super Savers With 4 electives|
|0.07%||$500||-||Super Savers With 3 electives|
|0.06%||$500||-||Super Savers With 2 electives|
|0.04%||$500||-||Super Savers With 1 elective|
|0.03%||$500||-||Super Savers With no electives|
|0.75%||$500||-||60 Month Regular CD|
|0.50%||$500||-||30 Month Regular CD|
|0.13%||$500||-||18 Month Regular CD|
|0.05%||$500||-||3 Month Regular CD|
|0.05%||$500||-||6 Month Regular CD|
|0.05%||$500||-||12 Month Regular CD|
|0.75%||$2k||-||60 Month Roth IRA|
|0.60%||$2k||-||36 Month IRA|