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Overview / Commentary
708-758-4277
21540 Cottage Grove Ave
Chicago Heights, IL 60411-4345

Heights Auto Workers Credit Union is headquartered in Chicago Heights and is the 90th largest credit union in the state of Illinois. It is also the 2,708th largest credit union in the nation. It was established in 1961 and as of March of 2014, it had grown to 11 employees and 6,170 members. Heights Auto Workers Credit Union has a B+ health rating.

Field of Membership Restrictions

To qualify for membership a person(s) must be part of a common bond of membership. Some common bonds entities are:- Ford Motor Company - ARA - Starmont - Star Tool - School District 144 - Industrial Transport - Pioneer Mechanics - Stolthaven Inc. - Letellier - M.E.S.I. - UAW LOCAL 3212 Members OR Immediate family members shall be eligible for membership if related by blood or marriage including foster, adopted or step children, in-laws, aunts, uncles, nieces, nephews, grandchildren and grand parents. - See Details

Reviews (2)

Credit Up By 50 Points In 6 Months!

I have been around the bend with a few banks in my time, and nothing compares to the customer service i have received. Through them I got a credit builder loan, where they loaned me $2000, but kept back $750, and locked it in my savings. When I paid off the rest of the loan, they unlocked the $750, and my credit score went up by 50 points! If your credit is suffering, and you're eligible for their loans, I recommend this Credit Union. Everyone is very friendly, and they are very quick with any issues you might have. I have had a checking account with this establishment for 10 years, and savings for 20+. Fantastic place to bank.

Sub Prime Loans Camouflaged As Credit Building Loans

Be careful with this credit union, which serves predominately minorities. Every month they offer loan ' specials' and 'credit building loans ' both have extremely high interest rates, and when you apply for one of these loans, you never get the full amount of money you asked for, but they will report that you did on your credit report. Example: you apply for a 2 thousand dollar 'credit building loan' they give you 1300, and they keep the 700, then report to the bureau you have a loan out for 2 thousand even though that's not what you received in reality. Also they advertise these ' credit building loans' but only report one credit bureau, transunion. Bc transunion is based out of Chicago it does not cost them anything. Question: how can you advertise to build someone's credit, but only report their payments to Only One Of The Three reporting bureas?????????????



Health

Data for Q1 2014

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. Heights Auto Workers Credit Union has a low asset base.

Texas Ratio

GRADE:
A+

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 Heights Auto Workers Credit Union had $281,000 in non-current loans and owned real-estate with $6.11 million in equity and loan loss allowances on hand to cover it. This gives Heights Auto Workers Credit Union a Texas Ratio of 4.60% which is excellent. Any bank with a Texas Ratio near or greater than 100% is considered at risk.

Texas Ratio Trend

GRADE:
C+

The Texas Ratio for Heights Auto Workers Credit Union experienced no significant changes from 3.18% as of March 31, 2013 to 4.60% as of March 31, 2014, resulting in a negative change of 44.38%. This indicates that the balance sheet and financial strength for Heights Auto Workers Credit Union has had no significant changes in recent periods.

Deposit Growth

GRADE:
A

In the past year, Heights Auto Workers Credit Union has increased its total deposits by $1.45 million, resulting in 4.96% 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 Heights Auto Workers 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. Heights Auto Workers Credit Union has $36.72 million in assets with $6.11 million in equity, resulting in a capitalization level of 16.64%, which is excellent.

Institution Statistics

Overall
NCUA #65640
Year Chartered1961
Employees11
Primary Regulator
Assets and Liabilities
Assets$36.72 million
Loans$12.27 million
Deposits$30.78 million
Equity Capital$5.84 million
Loan Loss Allowance$275,000
Unbacked Noncurrent Loans$178,000
Real Estate Owned$103,000
Historic Data - March 2013
Assets$35.18 million
Equity Capital$5.73 million
Loan Loss Allowance$264,000
Unbacked Noncurrent Loans$178,000
Real Estate Owned$0
Profit Margin - Quarterly
Net Interest Margin2.58%
Return on Assets0.46%
Return on Equity2.88%
Interest Income$344,000
Rates
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Heights Auto Workers Credit Union Savings Account Rates

DetailsAPYMINMAXPRODUCT
0.50%--IRA
0.20%$25-Christmas Club
0.20%$25-Taxes & Escrow
0.10%$500-Regular Savings
0.10%$25-Special Savings

Heights Auto Workers Credit Union Checking Account Rates

DetailsAPYMINMAXPRODUCT
0.25%$10k-NOW Account
0.10%$500-Checking Account

Heights Auto Workers Credit Union CD Rates

DetailsAPYMINMAXPRODUCT
0.50%$2,500-Certificate 12 Months

Heights Auto Workers Credit Union IRA Rates

DetailsAPYMINMAXPRODUCT
0.55%--1 Year IRA Certificate
Locations


Heights Auto Workers Credit Union Locations
Branch Office13912 S Torrence AveBurnham, IL 60633-2127
Branch Office21540 Cottage Grove AveChicago Heights, IL 60411-4345