GENCO Federal Credit Union is headquartered in Waco and is the 65th largest credit union in the state of Texas. It is also the 799th largest credit union in the nation. It was established in 1953 and as of December of 2013, it had grown to 87 employees and 34,031 members. GENCO Federal Credit Union's money market rates are 14% higher than the national average, and it has a A health rating.
Anyone who lives or works in McLennan County or Angelina County is eligible for membership. - See Details
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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 GENCO Federal Credit Union had $574,000 in non-current loans and owned real-estate with $28.82 million in equity and loan loss allowances on hand to cover it. This gives GENCO Federal Credit Union a Texas Ratio of 1.99% which is excellent. Any bank with a Texas Ratio near or greater than 100% is considered at risk.
The Texas Ratio for GENCO Federal Credit Union decreased slightly from 2.28% as of December 31, 2012 to 1.99% as of December 31, 2013, resulting in a positive change of 12.75%.This indicates that the balance sheet and financial strength for GENCO Federal Credit Union has improved slightly in recent periods.
In the past year, GENCO Federal Credit Union has increased its total deposits by $4.1 million, resulting in 1.96% 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 GENCO Federal 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. GENCO Federal Credit Union has $242.52 million in assets with $28.82 million in equity, resulting in a capitalization level of 11.88%, which is excellent.
|Assets and Liabilities|
|Equity Capital||$28.22 million|
|Loan Loss Allowance||$604,000|
|Unbacked Noncurrent Loans||$574,000|
|Real Estate Owned||$0|
|Historic Data - December 2012|
|Equity Capital||$26.00 million|
|Loan Loss Allowance||$551,000|
|Unbacked Noncurrent Loans||$574,000|
|Real Estate Owned||$61,000|
|Profit Margin - Quarterly|
|Net Interest Margin||4.17%|
|Return on Assets||0.91%|
|Return on Equity||7.86%|
|Interest Income||$8.01 million|
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|0.55%||$50k||-||IRA Accumulator Account|
|0.55%||$50k||-||Roth IRA Accumulator Account|
|0.55%||$50k||-||CESA Accumulator Account|
|0.35%||$5k||-||Share (Savings) Account|
|0.35%||-||-||Christmas Club Account|
|0.35%||$100||-||Savings Safari Club Account|
|0.50%||$100k||-||Money Market Account|
|1.00%||-||$25k||GENCO Advantage Checking|
|0.10%||-||-||First Class Checking|
|0.05%||-||-||GENCO Advantage Checking|
|1.61%||$1k||-||60 Month Term Share Certificate|
|1.31%||$1k||-||48 Month Term Share Certificate|
|1.10%||$1k||-||36 Month Term Share Certificate|
|0.80%||$1k||-||24 Month Term Share Certificate|
|0.60%||$1k||-||12 Month Term Share Certificate|
|0.47%||$10k||-||6 Month Term Share Certificate|
|1.76%||$50k||-||60 Month IRA Certificate (Traditional,Roth,CESA)|
|1.46%||$50k||-||48 Month IRA Certificate (Traditional,Roth,CESA)|
|1.26%||$50k||-||36 Month IRA Certificate (Traditional,Roth,CESA)|
|0.95%||$50k||-||24 Month IRA Certificate (Traditional,Roth,CESA)|
|0.75%||$50k||-||12 Month IRA Certificate (Traditional,Roth,CESA)|
|0.60%||$50k||-||6 Month IRA Certificate (Traditional,Roth,CESA)|
|GENCO Federal Credit Union Locations|
|Branch Office||1402 S John Redditt Dr||Lufkin, TX 75904-4826|
|Branch Office||201 Crossroads West Ctr||Waco, TX 76712-6466|
|Branch Office||1500 N Loop 340||Waco, TX 76705-2494|
|Branch Office||230 N Frontage Rd||Lorena, TX 76655|
|Branch Office||731 N Valley Mills Dr||Waco, TX 76710-4848|