Dedicated to Deposits: Deals, Data, and Discussion
Featured Savings Rates
Featured Accounts
Overview / Commentary
419-887-1000
1340 Arrowhead Dr
Maumee, OH 43537

Glass City Federal Credit Union is headquartered in Maumee and is the 32nd largest credit union in the state of Ohio. It is also the 981st largest credit union in the nation. It was established in 1947 and as of December of 2013, it had grown to 46 employees and 23,224 members. Glass City Federal Credit Union has a A health rating.

Field of Membership Restrictions

All individuals and businesses who live, work, worship or attend school in select counties are eligible for membership. - See Details

Related Posts



No reviews have been left for this bank yet. Be the first to review.



Health

Data for Q4 2013

Institution Health

A

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 Glass City Federal Credit Union had $481,000 in non-current loans and owned real-estate with $17.52 million in equity and loan loss allowances on hand to cover it. This gives Glass City Federal Credit Union a Texas Ratio of 2.75% 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 Glass City Federal Credit Union experienced no significant changes from 2.76% as of December 31, 2012 to 2.75% as of December 31, 2013, resulting in a positive change of 0.53%.This indicates that the balance sheet and financial strength for Glass City Federal Credit Union has had no significant changes in recent periods.

Deposit Growth

GRADE:
A

In the past year, Glass City Federal Credit Union has increased its total deposits by $6.41 million, resulting in 4.09% 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 Glass City Federal Credit Union has shown is excellent.

Capitalization

GRADE:
B

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. Glass City Federal Credit Union has $182.36 million in assets with $17.52 million in equity, resulting in a capitalization level of 9.60%, which is above average.

Institution Statistics

Overall
NCUA #5495
Year Chartered1947
Employees46
Primary Regulator
Assets and Liabilities
Assets$182.37 million
Loans$83.51 million
Deposits$162.97 million
Equity Capital$16.80 million
Loan Loss Allowance$718,000
Unbacked Noncurrent Loans$481,000
Real Estate Owned$0
Historic Data - December 2012
Assets$176.98 million
Equity Capital$18.16 million
Loan Loss Allowance$819,000
Unbacked Noncurrent Loans$481,000
Real Estate Owned$0
Profit Margin - Quarterly
Net Interest Margin4.77%
Return on Assets0.08%
Return on Equity0.85%
Interest Income$5.53 million
Rates

Always verify rates and promotions with the bank or credit union. We are not Glass City Federal Credit Union, we are a rate comparison website and can not provide official rates or promotions.

Glass City Federal Credit Union Savings Account Rates

DetailsAPYMINMAXPRODUCT
0.10%$100-Primary Share
0.10%$100- Vacation Club Account
0.10%$25-IRA Accumulation
0.10%$100-Christmas Club Account

Glass City Federal Credit Union Money Market Rates

DetailsAPYMINMAXPRODUCT
0.45%$50k-Money Market MAX
0.25%$50k-Money Market Savings

Glass City Federal Credit Union Checking Account Rates

DetailsAPYMINMAXPRODUCT
1.77%-$25kOptimum Checking

Glass City Federal Credit Union CD Rates

DetailsAPYMINMAXPRODUCT
1.25%$500-60 Month Share Certificate
1.00%$500-48 Month Share Certificate
0.55%$500-36 Month Share Certificate
0.40%$500-30 Month Share Certificate
0.30%$500-24 Month Interest Payment Share Certificate
0.30%$500-24 Month Share Certificate
0.20%$500-18 Month Share Certificate
0.15%$500-12 Month Interest Payment Share Certificate
0.15%$250-12 Month My Generation Certificate
0.15%$500-12 Month Share Certificate
0.10%$1k-3 Month Share Certificate
0.10%$500-6 Month Share Certificate

Glass City Federal Credit Union IRA Rates

DetailsAPYMINMAXPRODUCT
1.25%$1k-60 Month IRA
1.00%$1k-48 Month IRA
0.55%$1k-36 Month IRA
0.30%$1k-24 Month IRA
0.20%$1k-18 Month IRA
0.15%$1k-12 Month IRA (Traditional,CESA)
Locations


Glass City Federal Credit Union Locations
Branch Office1353 Gage RdToledo, OH 43612
Branch Office5642 Secor RdToledo, OH 43623
Branch Office1275 N Main StBowling Green, OH 43402-1342
Branch Office1666 E Broadway StToledo, OH 43605-3817
Branch Office1340 Arrowhead DrMaumee, OH 43537