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888-438-5579
P.O. Box 11003
Pensacola, FL 32526

Florida State Employees Credit Union is headquartered in Pensacola and is the 104th largest credit union in the state of Florida. It is also the 2,899th largest credit union in the nation. It was established in 1961 and as of March of 2014, it had grown to 12 employees and 3,953 members. Florida State Employees Credit Union has a C- health rating.

Field of Membership Restrictions

Must be a state employee in Escambia, Santa Rosa, Okaloosa or Walton County. Also open to students and alumni of University of West Florida. - See Details

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Health

Data for Q1 2014

Institution Health

C-
Additional Factors: Institutions with a small asset base or a short operating history can represent an instability risk beyond what their financial ratios indicate. Florida State Employees Credit Union has a low asset base.

Texas Ratio

GRADE:
C

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 Florida State Employees Credit Union had $1.38 million in non-current loans and owned real-estate with $2.96 million in equity and loan loss allowances on hand to cover it. This gives Florida State Employees Credit Union a Texas Ratio of 46.71% which is average. Any bank with a Texas Ratio near or greater than 100% is considered at risk.

Texas Ratio Trend

GRADE:
C+

The Texas Ratio for Florida State Employees Credit Union experienced no significant changes from 41.08% as of March 31, 2013 to 46.71% as of March 31, 2014, resulting in a negative change of 13.70%. This indicates that the balance sheet and financial strength for Florida State Employees Credit Union has had no significant changes in recent periods.

Deposit Growth

GRADE:
F

In the past year, Florida State Employees Credit Union has decreased its total deposits by -$9.22 million, resulting in -23.95% 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 Florida State Employees Credit Union has shown is poor.

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. Florida State Employees Credit Union has $31.63 million in assets with $2.96 million in equity, resulting in a capitalization level of 9.36%, which is average.

Institution Statistics

Overall
NCUA #14635
Year Chartered1961
Employees12
Primary Regulator
Assets and Liabilities
Assets$31.63 million
Loans$18.60 million
Deposits$29.28 million
Equity Capital$2.24 million
Loan Loss Allowance$726,000
Unbacked Noncurrent Loans$1.34 million
Real Estate Owned$40,000
Historic Data - March 2013
Assets$41.28 million
Equity Capital$2.52 million
Loan Loss Allowance$1.10 million
Unbacked Noncurrent Loans$1.34 million
Real Estate Owned$0
Profit Margin - Quarterly
Net Interest Margin1.57%
Return on Assets0.23%
Return on Equity3.22%
Interest Income$333,000
Rates
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Florida State Employees Credit Union Savings Account Rates

DetailsAPYMINMAXPRODUCT
0.10%$25-Share Savings
0.10%--Christmas Club
0.10%--Special Saving

Florida State Employees Credit Union Money Market Rates

DetailsAPYMINMAXPRODUCT
0.20%$25k-Money Market Account

Florida State Employees Credit Union CD Rates

DetailsAPYMINMAXPRODUCT
0.35%$500-36 Month Share Certificate
0.25%$500-24 Month Share Certificate
0.20%$500-12 Month Share Certificate
0.15%$500-6 Month Share Certificate
0.10%$500-3 Month Share Certificate

Florida State Employees Credit Union IRA Rates

DetailsAPYMINMAXPRODUCT
0.35%$500-36 Month IRA
0.35%$500-36 Month Roth IRA
0.35%$500-36 Month Educational IRA
0.35%$500-36 Month Conventional IRA
0.25%$500-18 Month IRA
Locations


Florida State Employees Credit Union Locations
Branch Office7 N Coyle St Unit BPensacola, FL 32502-4704
Branch Office6480 Highway 90 Ste GMilton, FL 32570-4524
Branch Office1645 E Nine Mile RdPensacola, FL 32514-5727