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 979th largest credit union in the nation. It was established in 1947 and as of September of 2013, it had grown to 47 employees and 23,363 members. Glass City Federal Credit Union's money market rates are 14% higher than the national average, and it has a A health rating.
All individuals and businesses who live, work, worship or attend school in select counties are 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 September 30, 2013 Glass City Federal Credit Union had $801,000 in non-current loans and owned real-estate with $17.79 million in equity and loan loss allowances on hand to cover it. This gives Glass City Federal Credit Union a Texas Ratio of 4.50% which is excellent. Any bank with a Texas Ratio near or greater than 100% is considered at risk.
The Texas Ratio for Glass City Federal Credit Union held steady from 2.99% as of September 30, 2012 to 4.50% as of September 30, 2013, resulting in a negative change of 50.44%. This indicates that the balance sheet and financial strength for Glass City Federal Credit Union has held steady in recent periods.
In the past year, Glass City Federal Credit Union has increased its total deposits by $6.07 million, resulting in 3.87% 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.
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 $182.16 million in assets with $17.79 million in equity, resulting in a capitalization level of 9.77%, which is above average.
|Assets and Liabilities|
|Equity Capital||$17.10 million|
|Loan Loss Allowance||$689,000|
|Unbacked Noncurrent Loans||$751,000|
|Real Estate Owned||$50,000|
|Historic Data - September 2012|
|Equity Capital||$18.16 million|
|Loan Loss Allowance||$753,000|
|Unbacked Noncurrent Loans||$751,000|
|Real Estate Owned||$88,000|
|Profit Margin - Quarterly|
|Net Interest Margin||3.49%|
|Return on Assets||0.08%|
|Return on Equity||0.85%|
|Interest Income||$4.16 million|
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|0.10%||$100||-||Vacation Club Account|
|0.10%||$100||-||Christmas Club Account|
|0.50%||$50k||-||Money Market MAX|
|0.30%||$50k||-||Money Market Savings|
|1.45%||$500||-||60 Month Share Certificate|
|1.25%||$500||-||48 Month Share Certificate|
|0.75%||$500||-||36 Month Share Certificate|
|0.50%||$500||-||30 Month Share Certificate|
|0.40%||$500||-||24 Month Interest Payment Share Certificate|
|0.40%||$500||-||24 Month Share Certificate|
|0.30%||$500||-||18 Month Share Certificate|
|0.20%||$500||-||12 Month Interest Payment Share Certificate|
|0.20%||$250||-||12 Month My Generation Certificate|
|0.20%||$500||-||12 Month Share Certificate|
|0.15%||$500||-||6 Month Share Certificate|
|0.10%||$1k||-||3 Month Share Certificate|
|1.45%||$1k||-||60 Month IRA|
|1.25%||$1k||-||48 Month IRA|
|0.75%||$1k||-||36 Month IRA|
|0.40%||$1k||-||24 Month IRA|
|0.30%||$1k||-||18 Month IRA|
|0.20%||$1k||-||12 Month IRA|
|0.20%||$1k||-||12 Month CESA|
|Glass City Federal Credit Union Locations|
|Branch Office||1353 Gage Rd||Toledo, OH 43612|
|Branch Office||5642 Secor Rd||Toledo, OH 43623|
|Branch Office||1275 N Main St||Bowling Green, OH 43402-1342|
|Branch Office||1666 E Broadway St||Toledo, OH 43605-3817|
|Branch Office||1340 Arrowhead Dr||Maumee, OH 43537|