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Overview / Commentary
615 N Western Ave
Marion, IN 46952

Fortress Credit Union is headquartered in Marion and is the 101st largest credit union in the state of Indiana. It is also the 3,910st largest credit union in the nation. It was established in 1951 and as of December of 2013, it had grown to 6 employees and 1,946 members. Fortress Credit Union's savings rates are 35% higher than the national average, and it has a B+ health rating.

Field of Membership Restrictions

Must live, work, worship or attend school in Grant County, Indiana. - See Details

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Health

Data for Q4 2013

Institution Health

B+
Additional Factors: Institutions with a small asset base or a short operating history can represent an instability risk beyond what their financial ratios indicate. Fortress Credit Union has a low asset base.

Texas Ratio

GRADE:
A+

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 Fortress Credit Union had $218,000 in non-current loans and owned real-estate with $3.35 million in equity and loan loss allowances on hand to cover it. This gives Fortress Credit Union a Texas Ratio of 6.50% which is excellent. Any bank with a Texas Ratio near or greater than 100% is considered at risk.

Texas Ratio Trend

GRADE:
C-

The Texas Ratio for Fortress Credit Union increased slightly from 0.77% as of December 31, 2012 to 6.50% as of December 31, 2013, resulting in a negative change of 740.17%. This indicates that the balance sheet and financial strength for Fortress Credit Union has declined slightly in recent periods.

Deposit Growth

GRADE:
A

In the past year, Fortress Credit Union has increased its total deposits by $508,000, resulting in 4.57% 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 Fortress Credit Union has shown is excellent.

Capitalization

GRADE:
A+

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. Fortress Credit Union has $15.02 million in assets with $3.35 million in equity, resulting in a capitalization level of 22.31%, which is excellent.

Institution Statistics

Overall
NCUA #7392
Year Chartered1951
Employees6
Primary Regulator
Assets and Liabilities
Assets$15.02 million
Loans$9.01 million
Deposits$11.64 million
Equity Capital$3.29 million
Loan Loss Allowance$58,000
Unbacked Noncurrent Loans$218,000
Real Estate Owned$0
Historic Data - December 2012
Assets$14.63 million
Equity Capital$3.40 million
Loan Loss Allowance$86,000
Unbacked Noncurrent Loans$218,000
Real Estate Owned$0
Profit Margin - Quarterly
Net Interest Margin4.62%
Return on Assets-0.75%
Return on Equity-3.43%
Interest Income$476,000
Rates
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Fortress Credit Union Savings Account Rates

DetailsAPYMINMAXPRODUCT
0.70%--Educational IRA
0.70%--Roth IRA
0.70%--Conversion Roth IRA
0.10%--Regular Shares
0.10%--Christmas Club

Fortress Credit Union Money Market Rates

DetailsAPYMINMAXPRODUCT
0.30%$25k-Money Market

Fortress Credit Union CD Rates

DetailsAPYMINMAXPRODUCT
1.25%$1k-48 Month CD
0.85%$1k-36 Month CD
0.75%$1k-30 Month CD
0.50%$1k-24 Month CD
0.40%$1k-18 Month CD
0.30%$1k-12 Month CD
0.20%$1k-6 Month CD
0.10%$1k-3 Month CD
Locations


Fortress Credit Union Locations
Branch Office508 E Charles StMarion, IN 46952
Branch Office615 N Western AveMarion, IN 46952