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Overview / Commentary
814-432-1207
1313 Liberty St
Franklin, PA 16323

Galaxy Credit Union is headquartered in Franklin and is the 102nd largest credit union in the state of Pennsylvania. It is also the 2,152nd largest credit union in the nation. It was established in 1940 and as of December of 2013, it had grown to 11 employees and 5,164 members. Galaxy Credit Union has a B+ health rating.

Field of Membership Restrictions

Must live, work, worship, attend school or volunteer in Venango County. - 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. Galaxy Credit Union has a relatively 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 Galaxy Credit Union had $360,000 in non-current loans and owned real-estate with $7.62 million in equity and loan loss allowances on hand to cover it. This gives Galaxy Credit Union a Texas Ratio of 4.72% 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 Galaxy Credit Union experienced no significant changes from 2.19% as of December 31, 2012 to 4.72% as of December 31, 2013, resulting in a negative change of 116.10%. This indicates that the balance sheet and financial strength for Galaxy Credit Union has had no significant changes in recent periods.

Deposit Growth

GRADE:
B+

In the past year, Galaxy Credit Union has increased its total deposits by $1.18 million, resulting in 2.5% 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 Galaxy Credit Union has shown is above average.

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. Galaxy Credit Union has $55.8 million in assets with $7.62 million in equity, resulting in a capitalization level of 13.66%, which is excellent.

Institution Statistics

Overall
NCUA #4116
Year Chartered1940
Employees11
Primary Regulator
Assets and Liabilities
Assets$55.80 million
Loans$16.43 million
Deposits$48.18 million
Equity Capital$7.56 million
Loan Loss Allowance$56,000
Unbacked Noncurrent Loans$320,000
Real Estate Owned$40,000
Historic Data - December 2012
Assets$54.28 million
Equity Capital$7.23 million
Loan Loss Allowance$42,000
Unbacked Noncurrent Loans$320,000
Real Estate Owned$0
Profit Margin - Quarterly
Net Interest Margin4.87%
Return on Assets0.61%
Return on Equity4.52%
Interest Income$1.39 million
Rates
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Galaxy Credit Union Savings Account Rates

DetailsAPYMINMAXPRODUCT
0.55%$50-IRA Share
0.25%$200-Share Account
0.25%$20-Youth Share
0.25%-$5kChristmas Club

Galaxy Credit Union Checking Account Rates

DetailsAPYMINMAXPRODUCT
0.05%$5k-Share Draft

Galaxy Credit Union CD Rates

DetailsAPYMINMAXPRODUCT
1.00%$500-49-60 Month Share Certificate
0.70%$500-37-48 Month Share Certificate
0.60%$500-25-36 Month Share Certificate
0.45%$500-13-24 Month Share Certificate
0.30%$500-3-12 Month Share Certificate

Galaxy Credit Union IRA Rates

DetailsAPYMINMAXPRODUCT
1.00%$500-49-60 Month IRA Certificate
0.70%$500-37-48 Month IRA Certificate
0.60%$500-25-36 Month IRA Certificate
0.45%$500-13-24 Month IRA Certificate
0.30%$500-3-12 Month IRA Certificate
Locations


Galaxy Credit Union Locations
Branch Office1313 Liberty StFranklin, PA 16323
Branch Office1283 Liberty StFranklin, PA 16323