Florida West Coast Credit Union
Florida West Coast Credit Union is headquartered in Brandon and is the 65th largest credit union in the state of Florida. It is also the 1,656th largest credit union in the nation. It was established in 1991 and as of September of 2013, it had grown to 28 employees and 9,183 members. Florida West Coast Credit Union has a A health rating.
Field of Membership Restrictions
Must be an employee of one of the several Select Employee Groups. - See Details
Friendly Staff, Horrible Website
I've been with FWCCU for a while now. I made the switch because of the upcoming added fees by the regular banks. The staff is great, very professional and helpful. However their website and ATMS are horrible. I suppose I'm just used to using the BOA ATM's and website, but I'll have to make due to keep from paying fees. The FWCCU Bill Pay has very few electronically paid bills and they send most out via check. This is not usually a problem until the time that the check was lost in the mail. Yes, the check was actually lost in the mail. My account was charged for the check but TECO never received it. Their ATMS still take deposits the old fashioned way. With an envelope. But hey, NO fees!
Data for Q3 2013
Institution Health
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 September 30, 2013 Florida West Coast Credit Union had $49,000 in non-current loans and owned real-estate with $7.1 million in equity and loan loss allowances on hand to cover it. This gives Florida West Coast Credit Union a Texas Ratio of 0.69% 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 Florida West Coast Credit Union decreased dramatically from 2.32% as of September 30, 2012 to 0.69% as of September 30, 2013, resulting in a positive change of 70.28%.This indicates that the balance sheet and financial strength for Florida West Coast Credit Union has improved dramatically in recent periods.
Deposit Growth
In the past year, Florida West Coast Credit Union has increased its total deposits by $3.97 million, resulting in 5.42% 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 West Coast Credit Union has shown is excellent.
Capitalization
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 West Coast Credit Union has $85.18 million in assets with $7.1 million in equity, resulting in a capitalization level of 8.34%, which is average.
Institution Statistics
| Overall | |
|---|---|
| NCUA # | 67337 |
| Year Chartered | 1991 |
| Employees | 28 |
| Primary Regulator |
| Assets and Liabilities | |
|---|---|
| Assets | $85.18 million |
| Loans | $34.32 million |
| Deposits | $77.22 million |
| Equity Capital | $6.63 million |
| Loan Loss Allowance | $469,000 |
| Unbacked Noncurrent Loans | $49,000 |
| Real Estate Owned | $0 |
| Historic Data - September 2012 | |
|---|---|
| Assets | $81.75 million |
| Equity Capital | $7.40 million |
| Loan Loss Allowance | $611,000 |
| Unbacked Noncurrent Loans | $49,000 |
| Real Estate Owned | $0 |
| Profit Margin - Quarterly | |
|---|---|
| Net Interest Margin | 3.47% |
| Return on Assets | 0.47% |
| Return on Equity | 6.05% |
| Interest Income | $1.73 million |
Always verify rates and promotions with the bank or credit union. We are not Florida West Coast Credit Union, we are a rate comparison website and can not provide official rates or promotions.
Florida West Coast Credit Union Savings Account Rates
| Details | APY | MIN | MAX | PRODUCT |
|---|---|---|---|---|
| 0.45% | $50k | - | IRA Savings Account | |
| 0.45% | $50k | - | Roth IRA Savings Account | |
| 0.20% | $10k | - | Regular Savings Account | |
| 0.20% | $10k | - | Christmas Club Account | |
| 0.20% | $10k | - | Vacation Club Account | |
| 0.20% | $10k | - | Youth Savings |
Florida West Coast Credit Union Money Market Rates
| Details | APY | MIN | MAX | PRODUCT |
|---|---|---|---|---|
| 0.30% | $50k | - | Money Market Account |
Florida West Coast Credit Union CD Rates
| Details | APY | MIN | MAX | PRODUCT |
|---|---|---|---|---|
| 0.75% | $1k | - | 24 Month Certificate | |
| 0.50% | $500 | - | 12 Month Certificate | |
| 0.30% | $1k | - | 6 Month Certificate |
Florida West Coast Credit Union IRA Rates
| Details | APY | MIN | MAX | PRODUCT |
|---|---|---|---|---|
| 0.75% | $1k | - | 24 Month IRA Certificate | |
| 0.75% | $1k | - | 24 Month Roth IRA Certificate | |
| 0.50% | $1k | - | 12 Month IRA Certificate | |
| 0.50% | $1k | - | 12 Month Roth IRA Certificate |
| Florida West Coast Credit Union Locations | ||
|---|---|---|
| Branch Office | 601 E KENNEDY BLVD | TAMPA, FL 33602 |
| Branch Office | 1250 Grumman Pl | Titusville, FL 32780-7927 |
| Branch Office | 3020 Melburne Blvd | Tampa, FL 33605 |
| Branch Office | 10025 N Dale Mabry Hwy | Tampa, FL 33618-4406 |
| Branch Office | 7200 Ridge Rd Ste 1 | Port Richey, FL 34668-6950 |
| Branch Office | 1225 Millennium Pkwy | Brandon, FL 33511 |