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Overview / Commentary
601-354-6633
500 H E Woodrow Wilson Ave
Jackson, MS 39216

Healthplus Credit Union is headquartered in JACKSON and is the 52nd largest credit union in the state of Mississippi. It is also the 4,976th largest credit union in the nation. It was established in 1948 and as of December of 2013, it had grown to 4 employees and 1,889 members. Healthplus Credit Union's savings rates are 15% higher than the national average, and it has a B+ health rating.

Field of Membership Restrictions

Must be an employee of the Mississippi State Board of Health, Mississippi State Department of Health or any district office or county health department under the jurisdictions of the Mississippi State Board of Health or the Mississippi State Department of Health. - See Details

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Health

Data for Q4 2013

Institution Health

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

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 Healthplus Credit Union had $25,000 in non-current loans and owned real-estate with $816,000 in equity and loan loss allowances on hand to cover it. This gives Healthplus Credit Union a Texas Ratio of 3.06% 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 Healthplus Credit Union decreased dramatically from 6.49% as of December 31, 2012 to 3.06% as of December 31, 2013, resulting in a positive change of 52.76%.This indicates that the balance sheet and financial strength for Healthplus Credit Union has improved dramatically in recent periods.

Deposit Growth

GRADE:
A+

In the past year, Healthplus Credit Union has increased its total deposits by $581,000, resulting in 11.07% 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 Healthplus Credit Union has shown is excellent.

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. Healthplus Credit Union has $6.62 million in assets with $816,000 in equity, resulting in a capitalization level of 12.32%, which is excellent.

Institution Statistics

Overall
NCUA #5930
Year Chartered1948
Employees4
Primary Regulator
Assets and Liabilities
Assets$6.62 million
Loans$2.95 million
Deposits$5.83 million
Equity Capital$773,000
Loan Loss Allowance$43,000
Unbacked Noncurrent Loans$25,000
Real Estate Owned$0
Historic Data - December 2012
Assets$6.21 million
Equity Capital$926,000
Loan Loss Allowance$30,000
Unbacked Noncurrent Loans$25,000
Real Estate Owned$0
Profit Margin - Quarterly
Net Interest Margin8.12%
Return on Assets-2.26%
Return on Equity-19.4%
Interest Income$265,000
Rates
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Healthplus Credit Union Savings Account Rates

DetailsAPYMINMAXPRODUCT
0.60%$50k-Savings
Locations


Healthplus Credit Union Locations
Branch Office500H E WOODROW WILSON AveJACKSON, MS 39216-4538