Great River Credit Union is headquartered in Saint Cloud and is the 23rd largest credit union in the state of Minnesota. It is also the 1,131st largest credit union in the nation. It was established in 1964 and as of March of 2014, it had grown to 43 employees and 15,473 members. Great River Credit Union has a A health rating.
Must live, work, worship or attend school in Benton, Sherburne or Stearns county. - See Details
Great River Federal Credit Union has by far been the best credit union I have ever dealt with in my life! The branches never have lines, the employees are ALWAYS respectful, and friendly. It's always nice to enter an establishment and the employees recognize you on a somewhat personal level. GRFCU loan officers are top performers; They WILL do what it takes to get your needs assessed and taken care of. I have never found any errors in statements that I received from them during my 7 year membership. Since I moved out of state, I am sad to say I can longer utilize their services; however, I would strongly encourage anyone considering a financial relationship with them to move forward, they definitely deliver!
The Texas Ratio is an indicator of how much capital a bank has available compared to the total value of loans considered at risk. As of March 31, 2014 Great River Credit Union had $351,000 in non-current loans and owned real-estate with $16.98 million in equity and loan loss allowances on hand to cover it. This gives Great River Credit Union a Texas Ratio of 2.07% which is excellent. Any bank with a Texas Ratio near or greater than 100% is considered at risk.
The Texas Ratio for Great River Credit Union decreased dramatically from 4.38% as of March 31, 2013 to 2.07% as of March 31, 2014, resulting in a positive change of 52.85%.This indicates that the balance sheet and financial strength for Great River Credit Union has improved dramatically in recent periods.
In the past year, Great River Credit Union has decreased its total deposits by -$1.79 million, resulting in -1.29% 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 Great River Credit Union has shown is 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. Great River Credit Union has $153.95 million in assets with $16.98 million in equity, resulting in a capitalization level of 11.03%, which is excellent.
|Assets and Liabilities|
|Equity Capital||$16.59 million|
|Loan Loss Allowance||$384,000|
|Unbacked Noncurrent Loans||$189,000|
|Real Estate Owned||$162,000|
|Historic Data - March 2013|
|Equity Capital||$15.85 million|
|Loan Loss Allowance||$640,000|
|Unbacked Noncurrent Loans||$189,000|
|Real Estate Owned||$205,000|
|Profit Margin - Quarterly|
|Net Interest Margin||1.06%|
|Return on Assets||0.35%|
|Return on Equity||3.25%|
|Interest Income||$1.10 million|
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|0.25%||$75k||-||Premier Money Fund Account|
|0.20%||$25k||-||Money Fund Savings Account|
|0.20%||$25k||-||Health Savings Account|
|0.20%||$25k||-||Passbook Savings Account IRA|
|0.45%||$1k||-||12 Month Premier Advantage CD|
|0.45%||$1k||-||18 Month Premier Advantage CD|
|0.40%||$500||$1k||12 Month Minor CD|
|0.40%||$500||$1k||18 Month Minor CD|
|0.40%||$1k||-||12 Month Classic Advantage CD|
|0.40%||$1k||-||18 Month Classic Advantage CD|
|0.30%||$1k||-||6 Month Premier Advantage CD|
|0.25%||$500||$1k||6 Month Minor CD|
|0.25%||$1k||-||6 Month Classic Advantage CD|
|0.45%||$1k||-||12 Month Premier Advantage IRA|
|0.45%||$1k||-||18 Month Premier Advantage IRA|
|0.40%||$1k||-||12 Month Classic Advantage IRA|
|0.40%||$500||$1k||12 Month Minor IRA|
|0.40%||$1k||-||18 Month Classic Advantage IRA|
|0.40%||$500||$1k||18 Month Minor IRA|
|0.30%||$1k||-||6 Month Premier Advantage IRA|
|0.25%||$1k||-||6 Month Classic Advantage IRA|
|0.25%||$500||$1k||6 Month Minor IRA|
|Great River Credit Union Locations|
|Branch Office||206 1st ST S||Waite Park, MN 563871306|
|Branch Office||4 2nd AVE N||Sauk Rapids, MN 563791604|
|Branch Office||1532 W Saint Germain St||Saint Cloud, MN 563014129|
|Branch Office||1725 Pine Cone RD S||Sartell, MN 563775801|