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Overview / Commentary
772-335-7044
2226 S Congress Ave
Palm Springs, FL 33406

Gold Coast Credit Union is headquartered in Palm Springs and is the 49th largest credit union in the state of Florida. It is also the 1,224th largest credit union in the nation. It was established in 1936 and as of December of 2013, it had grown to 52 employees and 19,633 members. Gold Coast Credit Union has a A health rating.

Field of Membership Restrictions

Must be an employee of any primary or secondary public, private, parochial school, college or university in Palm Beach County, St. Lucie or Okeechobee County, Florida or be an employee of Palm Beach County Bar Association or several other companies. Also open to those who live, work or worship in the Delray Beach area. - See Details

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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 Gold Coast Credit Union had $96,000 in non-current loans and owned real-estate with $15.25 million in equity and loan loss allowances on hand to cover it. This gives Gold Coast Credit Union a Texas Ratio of 0.63% which is excellent. Any bank with a Texas Ratio near or greater than 100% is considered at risk.

Texas Ratio Trend

GRADE:
A

The Texas Ratio for Gold Coast Credit Union decreased dramatically from 1.01% as of December 31, 2012 to 0.63% as of December 31, 2013, resulting in a positive change of 37.76%.This indicates that the balance sheet and financial strength for Gold Coast Credit Union has improved dramatically in recent periods.

Deposit Growth

GRADE:
B+

In the past year, Gold Coast Credit Union has increased its total deposits by $1.84 million, resulting in 1.61% 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 Gold Coast 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. Gold Coast Credit Union has $132.5 million in assets with $15.25 million in equity, resulting in a capitalization level of 11.51%, which is excellent.

Institution Statistics

Overall
NCUA #967
Year Chartered1936
Employees52
Primary Regulator
Assets and Liabilities
Assets$132.50 million
Loans$68.73 million
Deposits$115.51 million
Equity Capital$14.73 million
Loan Loss Allowance$521,000
Unbacked Noncurrent Loans$96,000
Real Estate Owned$0
Historic Data - December 2012
Assets$129.71 million
Equity Capital$13.86 million
Loan Loss Allowance$770,000
Unbacked Noncurrent Loans$96,000
Real Estate Owned$0
Profit Margin - Quarterly
Net Interest Margin2.91%
Return on Assets0.69%
Return on Equity6.23%
Interest Income$2.54 million
Rates
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Gold Coast Credit Union Savings Account Rates

DetailsAPYMINMAXPRODUCT
0.15%$15k-Savings Account
0.10%--Club Account

Gold Coast Credit Union Money Market Rates

DetailsAPYMINMAXPRODUCT
0.20%$100k-Money Market Account

Gold Coast Credit Union CD Rates

DetailsAPYMINMAXPRODUCT
1.00%$1k-5 Year Share Certificate
0.50%$1k-2 1/2 Year Share Certificate
0.30%$250$10k12 Month Horizon Share Certificate
0.30%$250$10k12 Month Student Share Certificate
0.25%$1k-12 Month Share Certificate
0.25%$250$10k9 Month Student Share Certificate
0.20%$1k-6 Month Share Certificate
0.20%$250$10k6 Month Horizon Share Certificate
0.20%$250$10k6 Month Student Share Certificate
0.15%$10k-3 Month Share Certificate
0.15%$250$10k3 Month Student Share Certificate
Locations


Gold Coast Credit Union Locations
Branch Office145 N Main St Ste 103Belle Glade, FL 33430-2644
Branch Office10469 Southern BlvdRoyal Palm Beach, FL 33411-4340
Branch Office10000 S US Highway 1Port Saint Lucie, FL 34952-5623
Branch Office2226 S Congress AvePalm Springs, FL 33406-7606