First Northern Credit Union

First Northern Credit Union Locations
230 W Monroe St Suite 2850
Chicago, IL 60606
312-332-6357
www.fncu.org

NCUA

First Northern Credit Union is headquartered in Chicago and is the 20th largest credit union in the state of Illinois. It is also the 649th largest credit union in the nation. It was established in 1944 and as of December of 2012, it had grown to 75 employees and 24,378 members. First Northern Credit Union has a 5-star health rating.

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This Is Not A "Regular" Checking Account (Forum) - 2/9/2010

This is not a "regular" checking account.  It's a reward checking account with a $7,500 cap that requires 10 debit card purchases, as you can see here: http://www.fncu.org/images/accounts_images/ckg_conv_chart.pdf

3.10% 18-Month CD at First Northern Credit Union in Illinois - 2/24/2009

First Northern Credit Union is offering several some competitive certificate rates. The best rates require a minimum deposit of $50,000. The most competitive include 2.95% APY for 12 months, 3.10% APY for 18 months and 3.25% APY for 24 months. Lower...

5.55% 36-Month CD at an Illinois CU (First Northern). - 11/13/2007

Update 12/31/07: The CD rates have fallen. Please check the credit union's website for the latest rates.First Northern Credit Union is offering a 5.55% APY 36-month share certificate (see rate table). The minimum deposit is $50,000. Yields of 5.35% APY...



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See Rates for: Checking | Savings | Money Market | CD | IRA

First Northern Credit Union Checking Account Rates

ApyMinMaxProduct
1.50%-$7,500Advantage Checking
0.10%--Preferred Checking

First Northern Credit Union Savings Account Rates

ApyMinMaxProduct
0.15%$25k-Share Savings
0.15%$25k-Holiday Club
0.15%$25k-Vacation Club
0.15%$25k-Moola Moose Club
0.15%$25k-Compass Club

First Northern Credit Union Money Market Rates

ApyMinMaxProduct
0.30%$100k-Money Market - Market Yield
0.15%$25k-Money Market - Market Demand

First Northern Credit Union CD Rates

ApyMinMaxProduct
0.90%$50k-60 Month Share Certificate
0.50%$50k-36 Month Share Certificate
0.40%$50k-24 Month Share Certificate
0.30%$50k-18 Month Share Certificate
0.25%$50k-12 Month Share Certificate
0.20%$50k-6 Month Share Certificate

First Northern Credit Union IRA Rates

ApyMinMaxProduct
1.80%$500-60 Month Coverdell ESA Certificate
1.40%$500-36 Month Coverdell ESA Certificate
1.30%$500-24 Month Coverdell ESA Certificate
1.20%$500-18 Month Coverdell ESA Certificate
1.15%$500-12 Month Coverdell ESA Certificate
1.10%$500-6 Month Coverdell ESA Certificate
0.90%$50k-60 Month IRA Share Certificate
0.90%$50k-60 Month Roth IRA Share Certificate
0.50%$50k-36 Month IRA Share Certificate
0.50%$50k-36 Month Roth IRA Share Certificate
0.40%$50k-24 Month IRA Share Certificate
0.40%$50k-24 Month Roth IRA Share Certificate
0.30%$50k-18 Month IRA Share Certificate
0.30%$50k-18 Month Roth IRA Share Certificate
0.25%$50k-12 Month IRA Share Certificate
0.25%$50k-12 Month Roth IRA Share Certificate
0.20%$50k-6 Month IRA Share Certificate
0.20%$50k-6 Month Roth IRA Share Certificate

Rates updated: 5/22/2013

Data for Q4 2012


Institution Statistics


FIRST NORTHERN
NCUA #66359
BankRate ReportView
Year Chartered1944
Employees75
Primary Regulator

Assets and Liabilities

Assets$308.23 million
Loans$112.17 million
Deposits$282.00 million
Equity Capital$24.07 million
Loan Loss Allowance$1.15 million
Unbacked Noncurrent Loans$525,000
Real Estate Owned$250,000

Historic Data - December 2011

Assets$289.44 million
Equity Capital$23.66 million
Loan Loss Allowance$1.01 million
Unbacked Noncurrent Loans$854,000

Profit Margin - Quarterly

Net Interest Margin5.68%
Return on Assets0.1%
Return on Equity1.3%
Interest Income$8.42 million
Non-Interest Income$3.86 million

Institution Health


Overall Score:
5 out of 5
5
Texas Ratio5
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, 2012 First Northern Credit Union had $775,000 in non-current loans and owned real-estate with $25.22 million in equity and loan loss allowances on hand to cover it. This gives First Northern Credit Union a Texas Ratio of 3.07% which is excellent. Any bank with a Texas Ratio near or greater than 100% is considered at risk.
Texas Ratio Trend3
The Texas Ratio for First Northern Credit Union held steady from 3.46% as of December 31, 2011 to 3.07% as of December 31, 2012, resulting in a positive change of 11.19%.This indicates that the balance sheet and financial strength for First Northern Credit Union has held steady in recent periods.
Deposit Growth5
In the past year, First Northern Credit Union has increased its total deposits by $18.06 million, resulting in 6.84% 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 Northern Credit Union has shown is excellent.
Capitalization3
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 Northern Credit Union has $308.23 million in assets with $25.22 million in equity, resulting in a capitalization level of 8.18%, which is average.
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