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Overview / Commentary
800-808-2830
112 Lake St S
Mora, MN 55051

Greater Minnesota Credit Union is headquartered in Mora and is the 25th largest credit union in the state of Minnesota. It is also the 1,155th largest credit union in the nation. It was established in 1935 and as of December of 2013, it had grown to 62 employees and 19,864 members. Greater Minnesota Credit Union has a B health rating.

Field of Membership Restrictions

Must be a member of the Federated Coops, Inc. Also open to those who live within the School Districts of: Mora, Ogilvie, Hinckley, Milaca, Pine City or Isle; Anoka, Hennepin, Sherburne or Wright county. - See Details

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Health

Data for Q4 2013

Institution Health

B

Texas Ratio

GRADE:
B

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 Greater Minnesota Credit Union had $3.67 million in non-current loans and owned real-estate with $17.05 million in equity and loan loss allowances on hand to cover it. This gives Greater Minnesota Credit Union a Texas Ratio of 21.53% which is above average. Any bank with a Texas Ratio near or greater than 100% is considered at risk.

Texas Ratio Trend

GRADE:
B+

The Texas Ratio for Greater Minnesota Credit Union decreased slightly from 29.04% as of December 31, 2012 to 21.53% as of December 31, 2013, resulting in a positive change of 25.88%.This indicates that the balance sheet and financial strength for Greater Minnesota Credit Union has improved slightly in recent periods.

Deposit Growth

GRADE:
C

In the past year, Greater Minnesota Credit Union has decreased its total deposits by -$1.4 million, resulting in -1.06% 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 Greater Minnesota Credit Union has shown is 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. Greater Minnesota Credit Union has $145.59 million in assets with $17.05 million in equity, resulting in a capitalization level of 11.71%, which is excellent.

Institution Statistics

Overall
NCUA #64798
Year Chartered1935
Employees62
Primary Regulator
Assets and Liabilities
Assets$145.59 million
Loans$78.57 million
Deposits$129.84 million
Equity Capital$14.56 million
Loan Loss Allowance$2.49 million
Unbacked Noncurrent Loans$1.89 million
Real Estate Owned$1.78 million
Historic Data - December 2012
Assets$146.46 million
Equity Capital$14.01 million
Loan Loss Allowance$3.10 million
Unbacked Noncurrent Loans$1.89 million
Real Estate Owned$1.98 million
Profit Margin - Quarterly
Net Interest Margin5.62%
Return on Assets0.38%
Return on Equity3.76%
Interest Income$4.76 million
Rates
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Greater Minnesota Credit Union Savings Account Rates

DetailsAPYMINMAXPRODUCT
0.03%--Health Savings Accounts
0.03%--IRA Savings
0.03%--Roth IRA Savings
0.03%--Coverdell Education Savings Account
0.03%--Prime Share
0.03%--CirCUs Club
0.03%--Additional Share Accounts
0.03%--Christmas
0.02%--Life Savings

Greater Minnesota Credit Union Checking Account Rates

DetailsAPYMINMAXPRODUCT
0.05%$50k-Member Advantage Checking
0.00%--Member Preferred Checking
0.00%--Commercial Checking
0.00%--Freedom Checking

Greater Minnesota Credit Union CD Rates

DetailsAPYMINMAXPRODUCT
0.50%$500-48 Month CD
0.45%$500-36 Month CD
0.30%$500-24 Month CD
0.25%$500-18 Month CD
0.20%$500-12 Month CD
0.05%$500-91 Day CD
0.05%$500-6 Month CD
Locations


Greater Minnesota Credit Union Locations
Branch Office200 W Highway 23Ogilvie, MN 56358
Branch Office900 Main St SPine City, MN 55063
Branch Office17035 Yale St NWElk River, MN 55330
Branch Office390 E Isle StIsle, MN 56342
Branch Office400 3rd Ave SWMilaca, MN 56353
Branch Office112 Lake St SMora, MN 55051