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Overview / Commentary
313-225-9755
600 E Lafayette Blvd
Detroit, MI 48226

Health One Credit Union is headquartered in Detroit and is the 212st largest credit union in the state of Michigan. It is also the 3,685th largest credit union in the nation. It was established in 1957 and as of March of 2014, it had grown to 13 employees and 3,882 members. Health One Credit Union's CD rates are 28% higher than the national average, but it has a F health rating.

Field of Membership Restrictions

Must live, work, worship, volunteer or attend school in Macomb, Oakland, Washtenaw or Wayne County. Also open to employees of the Blue Cross Blue Shield and other select organizations. - See Details

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Health

Data for Q1 2014

Institution Health

F
Additional Factors: Institutions with a small asset base or a short operating history can represent an instability risk beyond what their financial ratios indicate. Health One Credit Union has a low asset base.

Texas Ratio

GRADE:
F

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 Health One Credit Union had $1.17 million in non-current loans and owned real-estate with $1.16 million in equity and loan loss allowances on hand to cover it. This gives Health One Credit Union a Texas Ratio of 100.78% which is poor. Any bank with a Texas Ratio near or greater than 100% is considered at risk.

Texas Ratio Trend

GRADE:
C-

The Texas Ratio for Health One Credit Union increased slightly from 35.07% as of March 31, 2013 to 100.78% as of March 31, 2014, resulting in a negative change of 187.39%. This indicates that the balance sheet and financial strength for Health One Credit Union has declined slightly in recent periods.

Deposit Growth

GRADE:
D

In the past year, Health One Credit Union has decreased its total deposits by -$1.73 million, resulting in -9.26% 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 Health One Credit Union has shown is below average.

Capitalization

GRADE:
C-

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. Health One Credit Union has $18.18 million in assets with $1.16 million in equity, resulting in a capitalization level of 6.39%, which is below average.

Institution Statistics

Overall
NCUA #63106
Year Chartered1957
Employees13
Primary Regulator
Assets and Liabilities
Assets$18.18 million
Loans$9.37 million
Deposits$16.95 million
Equity Capital$711,000
Loan Loss Allowance$450,000
Unbacked Noncurrent Loans$746,000
Real Estate Owned$424,000
Historic Data - March 2013
Assets$21.50 million
Equity Capital$2.24 million
Loan Loss Allowance$52,000
Unbacked Noncurrent Loans$746,000
Real Estate Owned$736,000
Profit Margin - Quarterly
Net Interest Margin2.04%
Return on Assets-3.98%
Return on Equity-101.83%
Interest Income$199,000
Rates
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Health One Credit Union Money Market Rates

DetailsAPYMINMAXPRODUCT
0.30%$2k-Money Market Certificate

Health One Credit Union CD Rates

DetailsAPYMINMAXPRODUCT
1.15%$100k-1 Year Jumbo CD
0.90%$10k-36 Month CD
0.80%$10k-12 Month CD
0.80%$10k-24 Month CD
0.40%$1k-6 Month CD

Health One Credit Union IRA Rates

DetailsAPYMINMAXPRODUCT
1.15%$100k-1 Year Jumbo IRA
0.90%$10k-36 Month IRA
0.80%$10k-12 Month IRA
0.80%$10k-24 Month IRA
0.40%$1k-6 Month IRA
Locations


Health One Credit Union Locations
Branch Office200 Renaissance Ctr 1st foor, Suite 1201Detroit, MI 48243
Branch Office2060 E 9th StCleveland, OH 44115
Branch Office500 E Lafayette BlvdDetroit, MI 48226