Firstlight Credit Union is headquartered in El Paso and is the 19st largest credit union in the state of Texas. It is also the 273rd largest credit union in the nation. It was established in 1955 and as of December of 2013, it had grown to 331 employees and 114,239 members. Firstlight Credit Union has a B health rating.
Must live, work or worship in El Paso County, Doña Ana County or the Fort Bliss community. - See Details
They gave us every reason to expect great service. What a disappointment. We opened a savings and checking with them in order to have a local bank so that we could access someone in person if needed. Thank goodness we didn't close our other bank's account. From the start we had problems. Tellers would not pay close attention when we asked for cash back from deposits, which account to make deposits into, etcetera. Getting help over the phone was pure insanity and the problems never ever got fixed. Their website and online banking...don't even get us started, let's just say you'd think that the internet was a new thing for Firstlight. What a mess of a "credit union."
I really haven't had much luck with banks so I tried First Light. My experiences were positive at first but some problems arose here and there. First they talked me into signing up for overdraft protection that would take money out of your savings if your checking account was overdrawn. This seemed like a good opportunity especially since some of the companies we deal with take out automatic withdrawals each month but at somewhat random times. We live paycheck to paycheck so I was more than happy to sign up for it and insure I didn't rack up fees we couldn't afford. If you were overdrawn on your account it would cost you nearly $30 in overdrawn fees. This was very helpful, or at least I thought it would be, until the first time they had to take out from my savings account to cover the shortage. They still charged nearly $20 overdrawn fee for every time I was short despite their overdraft protection. I went back into the bank and asked to speak with a representative and they explained to me that I had it all wrong, that I was told wrong and then explained to me their current policy. What they were now telling me was that I'd rack up fees with the overdraft protection so my best bet was to have them not let the payment go through electronically if the money wasn't in the account. I signed some paperwork and I thought the issue was resolved until of course we were short and low and behold I began racking up $30 fees again. I went back to the credit union and again I was told I was misunderstanding what their policy was, again, despite that this time I had a brochure they had handed me. So my moral of the story is that no matter what they tell you, protected or not, you're still going to be charged. On a positive note, they do however give me no trouble about cashing third party checks, my husband's paychecks without his presence, and have returned some of those horrible fees they deducted. They have pretty good service. The tellers are friendly and compared to my past experiences with Bank of America, I'm happy to deal with the whole overdraft hassle.
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 Firstlight Credit Union had $9.18 million in non-current loans and owned real-estate with $75.28 million in equity and loan loss allowances on hand to cover it. This gives Firstlight Credit Union a Texas Ratio of 12.19% which is above average. Any bank with a Texas Ratio near or greater than 100% is considered at risk.
The Texas Ratio for Firstlight Credit Union experienced no significant changes from 13.14% as of December 31, 2012 to 12.19% as of December 31, 2013, resulting in a positive change of 7.20%.This indicates that the balance sheet and financial strength for Firstlight Credit Union has had no significant changes in recent periods.
In the past year, Firstlight Credit Union has increased its total deposits by $12.9 million, resulting in 1.79% 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 Firstlight 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. Firstlight Credit Union has $817.73 million in assets with $75.28 million in equity, resulting in a capitalization level of 9.21%, which is average.
|Assets and Liabilities|
|Equity Capital||$70.04 million|
|Loan Loss Allowance||$5.25 million|
|Unbacked Noncurrent Loans||$7.61 million|
|Real Estate Owned||$1.57 million|
|Historic Data - December 2012|
|Equity Capital||$65.74 million|
|Loan Loss Allowance||$5.70 million|
|Unbacked Noncurrent Loans||$7.61 million|
|Real Estate Owned||$2.73 million|
|Profit Margin - Quarterly|
|Net Interest Margin||4.09%|
|Return on Assets||0.53%|
|Return on Equity||6.14%|
|Interest Income||$30.78 million|
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|0.25%||-||-||Youth Share Savings|
|0.15%||$100||-||Business Share Savings|
|0.30%||$50k||-||Business Money Market|
|1.46%||$50k||-||5 Year Business CD|
|1.46%||$50k||-||5 Year CD|
|1.11%||$50k||-||4 Year Business CD|
|1.11%||$50k||-||4 Year CD|
|1.05%||$50k||-||3 Year Business CD|
|1.05%||$50k||-||3 Year CD|
|0.80%||$50k||-||2 Year Business CD|
|0.80%||$50k||-||2 Year CD|
|0.65%||$50k||-||18 Month Business CD|
|0.65%||$50k||-||18 Month CD|
|0.60%||$50k||-||1 Year Business CD|
|0.60%||$50k||-||1 Year CD|
|0.45%||-||-||3 Year Dream Builder CD|
|0.45%||$50k||-||6 Month Business CD|
|0.45%||$50k||-||6 Month CD|
|0.35%||$50k||-||91 Day Business CD|
|0.35%||$50k||-||91 Day CD|
|0.20%||-||-||2 Year Dream Builder CD|
|0.10%||-||-||1 Year Dream Builder CD|
|1.46%||$50k||-||5 Year IRA|
|1.11%||$50k||-||4 Year IRA|
|1.05%||$50k||-||3 Year IRA|
|0.80%||$50k||-||2 Year IRA|
|0.65%||$50k||-||18 Month IRA|
|0.60%||$50k||-||1 Year IRA|
|0.45%||$50k||-||6 Month IRA|
|0.35%||$50k||-||91 Day IRA|
|Firstlight Credit Union Locations|
|Branch Office||20727 Constitution Ave||Fort Bliss, TX 79918-8060|
|Branch Office||5050 N Desert Blvd||El Paso, TX 79912|
|Branch Office||9983 Kenworthy St||El Paso, TX 79924|
|Branch Office||1741 Marshall Rd||El Paso, TX 79906|
|Branch Office||9993 Kenworthy St||El Paso, TX 79924|
|Branch Office||300 E Foster Rd||Las Cruces, NM 88005|
|Branch Office||3105 Del Rey Blvd||Las Cruces, NM 88012|
|Branch Office||3791 E Lohman Ave||Las Cruces, NM 88011|
|Branch Office||1555 N Lee Trevino Dr||El Paso, TX 79936|
|Branch Office||5005 N Piedras St||El Paso, TX 79920|