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IBM Southeast Employees’ Federal Credit Union

Based on 1 review
Overview / Commentary
561-982-4700
1000 NW 17th Ave
Delray Beach, FL 33445-2555

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Field of Membership Restrictions

Eligibility requires you to be employed by IBM. - See Details

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Reviews (1)

The Best In Banking -IBM Southeast Credit Union

POSTED ON FRIDAY MAY 9, 2014 by Fay

My experience with IBM Southeast Employees Federal Credit Union began in 1997. During that year I made a poor decision in purchase a vehicle at a astronomical percentage rate, and had no recourse. A few months later IBM in association with the company I worked for had a promotional event. IBM was able to assist in paying of the high interest loan and help in easing the financial burden I was carrying. In addition, their customer service is fantastic and their willingness to listen to the needs of the customer in a personable way cannot be found in most banking institutions. Since then a feel a sense of gratitude in maintaining my membership with IBM.



Health

Data for Q1 2014

Institution Health

B+

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 IBM Southeast Employees’ Federal Credit Union had $6.15 million in non-current loans and owned real-estate with $79.26 million in equity and loan loss allowances on hand to cover it. This gives IBM Southeast Employees’ Federal Credit Union a Texas Ratio of 7.76% 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 IBM Southeast Employees’ Federal Credit Union decreased dramatically from 15.23% as of March 31, 2013 to 7.76% as of March 31, 2014, resulting in a positive change of 49.08%.This indicates that the balance sheet and financial strength for IBM Southeast Employees’ Federal Credit Union has improved dramatically in recent periods.

Deposit Growth

GRADE:
C

In the past year, IBM Southeast Employees’ Federal Credit Union has decreased its total deposits by -$11.34 million, resulting in -1.43% 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 IBM Southeast Employees’ Federal Credit Union has shown is 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. IBM Southeast Employees’ Federal Credit Union has $862.35 million in assets with $79.26 million in equity, resulting in a capitalization level of 9.19%, which is average.

Institution Statistics

Overall
NCUA #19659
Year Chartered1969
Employees222
Primary Regulator
Assets and Liabilities
Assets$862.35 million
Loans$433.67 million
Deposits$781.47 million
Equity Capital$72.63 million
Loan Loss Allowance$6.64 million
Unbacked Noncurrent Loans$5.38 million
Real Estate Owned$764,000
Historic Data - March 2013
Assets$869.33 million
Equity Capital$65.73 million
Loan Loss Allowance$9.63 million
Unbacked Noncurrent Loans$5.38 million
Real Estate Owned$2.04 million
Profit Margin - Quarterly
Return on Assets0.73%
Return on Equity8.67%
Interest Income$6.55 million
Rates

Always verify rates and promotions with the bank or credit union. We are not IBM Southeast Employees’ Federal Credit Union, we are a rate comparison website and can not provide official rates or promotions.

IBM Southeast Employees’ Federal Credit Union Savings Account Rates

DetailsAPYMINMAXPRODUCT
0.10%--Certain Saver
0.10%$10k-Health Savings Account
0.10%--Education Share Account
0.10%--Roth Share Account
0.10%--Traditional Share Account
0.10%$1k-Variable Choice Certificate
0.07%$5k-Membership Savings
0.07%$5k-Savings Plus
0.07%$5k-Membership Top Teen Savings

IBM Southeast Employees’ Federal Credit Union Money Market Rates

DetailsAPYMINMAXPRODUCT
0.20%$100k-Money Market Max
0.13%$10k-Money Market Account

IBM Southeast Employees’ Federal Credit Union Checking Account Rates

DetailsAPYMINMAXPRODUCT
0.05%--Grand Checking
0.03%$500-Checking Plus

IBM Southeast Employees’ Federal Credit Union CD Rates

DetailsAPYMINMAXPRODUCT
1.25%$25k-60 Month Diamond Rewards Certificate
1.25%$25k-60 Month Platinum Rewards Certificate
1.20%$1k-60 Month Certificate
0.95%$25k-48 Month Diamond Rewards Certificate
0.95%$25k-48 Month Platinum Rewards Certificate
0.90%$1k-48 Month Certificate
0.75%$25k-42 Month Diamond Rewards Certificate
0.75%$25k-42 Month Platinum Rewards Certificate
0.70%$1k-42 Month Certificate
0.65%$25k-36 Month Diamond Rewards Certificate
0.65%$25k-36 Month Platinum Rewards Certificate
0.60%$1k-36 Month Certificate
0.55%$25k-30 Month Diamond Rewards Certificate
0.55%$25k-30 Month Platinum Rewards Certificate
0.50%$1k-30 Month Certificate
0.45%$25k-24 Month Diamond Rewards Certificate
0.45%$25k-24 Month Platinum Rewards Certificate
0.40%$1k-24 Month Certificate
0.35%$25k-18 Month Diamond Rewards Certificate
0.35%$25k-18 Month Platinum Rewards Certificate
0.30%$1k-18 Month Certificate
0.25%$25k-12 Month Diamond Rewards Certificate
0.25%$25k-12 Month Platinum Rewards Certificate
0.20%$1k-12 Month Certificate
0.20%$25k-6 Month Diamond Rewards Certificate
0.20%$25k-6 Month Platinum Rewards Certificate
0.15%$1k-6 Month Certificate
0.15%$500-HSA 6 Month Certificate
0.05%$1k-3 Month Certificate

IBM Southeast Employees’ Federal Credit Union IRA Rates

DetailsAPYMINMAXPRODUCT
1.20%$1k-60 Month IRA - Traditional
0.90%$1k-48 Month IRA - Traditional
0.60%$1k-36 Month IRA - Traditional
0.40%$1k-24 Month IRA - Traditional
0.30%$1k-12 Month Variable IRA - Traditional
0.20%$1k-12 Month IRA - Traditional
Locations

IBM Southeast Employees’ Federal Credit Union has 15 locations. Click to view all IBM Southeast Employees’ Federal Credit Union locations.