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Overview / Commentary
808-841-2473
1 Fort Shafter Army Base Building 223
Fort Shafter, HI 96858

Honea Credit Union is headquartered in Fort Shafter and is the 49th largest credit union in the state of Hawaii. It is also the 3,176th largest credit union in the nation. It was established in 1952 and as of December of 2013, it had grown to 4 employees and 1,015 members. Honea Credit Union has a C+ health rating.

Field of Membership Restrictions

Must be a civilian employee stationed at Fort Shafter or Fort DeRussy, Hawaii or be an employee of Hale Koa Hotel or other select group. - See Details

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Health

Data for Q4 2013

Institution Health

C+
Additional Factors: Institutions with a small asset base or a short operating history can represent an instability risk beyond what their financial ratios indicate. Honea Credit Union has a 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 Honea Credit Union had $136,000 in non-current loans and owned real-estate with $2.46 million in equity and loan loss allowances on hand to cover it. This gives Honea Credit Union a Texas Ratio of 5.54% 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 Honea Credit Union experienced no significant changes from 5.07% as of December 31, 2012 to 5.54% as of December 31, 2013, resulting in a negative change of 9.28%. This indicates that the balance sheet and financial strength for Honea Credit Union has had no significant changes in recent periods.

Deposit Growth

GRADE:
D

In the past year, Honea Credit Union has decreased its total deposits by -$1.72 million, resulting in -7% 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 Honea Credit Union has shown is below average.

Capitalization

GRADE:
B

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. Honea Credit Union has $25.38 million in assets with $2.46 million in equity, resulting in a capitalization level of 9.67%, which is above average.

Institution Statistics

Overall
NCUA #7594
Year Chartered1952
Employees4
Primary Regulator
Assets and Liabilities
Assets$25.38 million
Loans$2.84 million
Deposits$22.91 million
Equity Capital$2.42 million
Loan Loss Allowance$35,000
Unbacked Noncurrent Loans$111,000
Real Estate Owned$25,000
Historic Data - December 2012
Assets$27.11 million
Equity Capital$2.42 million
Loan Loss Allowance$25,000
Unbacked Noncurrent Loans$111,000
Real Estate Owned$0
Profit Margin - Quarterly
Net Interest Margin5.83%
Return on Assets0.1%
Return on Equity1.03%
Interest Income$622,000
Rates
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Honea Credit Union Savings Account Rates

DetailsAPYMINMAXPRODUCT
0.45%--Keiki Account
0.45%-$3kChristmas Club Account
0.35%$100k-Share Savings Account

Honea Credit Union Checking Account Rates

DetailsAPYMINMAXPRODUCT
0.05%--Your Choice Checking
0.05%--Share Express Checking Account

Honea Credit Union CD Rates

DetailsAPYMINMAXPRODUCT
1.10%$1k-4 Year Term Share Certificate
1.00%$1k-3 Year Term Share Certificate
0.90%$1k-30 Month Term Share Certificate
0.80%$1k-2 Year Term Share Certificate
0.70%$1k-18 Month Term Share Certificate
0.60%$1k-1 Year Term Share Certificate
0.55%$1k-9 Month Term Share Certificate
0.40%$1k-6 Month Term Share Certificate
Locations


Honea Credit Union Locations
Branch Office1 Fort Shafter Army Base Building 223Fort Shafter, HI 96858