Ideal Credit Union is headquartered in Woodbury and is the 9th largest credit union in the state of Minnesota. It is also the 396th largest credit union in the nation. It was established in 1926 and as of March of 2014, it had grown to 122 employees and 47,784 members. Ideal Credit Union has a A health rating.
Becoming a Ideal CU member is easy. If you live, work, worship, attend school or volunteer in Anoka, Chisago, Dakota, Hennepin, Ramsey or Washington counties, you are automatically eligible to join. Those outside the six-county area are also welcome to join through a family member, or, by making a $5.00 donation to the John D. Miller Foundation. - See Details
Great place. Rates are pretty low on all accounts, but no fees accounts, great local employees. Can't go wrong versus your large banks.
Unfortunately for PCU, I keep my savings at Alliant, but I have my checking and car loan through them. I live close to a branch. I would recommend them to anyone (locally for sure). They are part of the shared branch system too.
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 Ideal Credit Union had $2.97 million in non-current loans and owned real-estate with $53.71 million in equity and loan loss allowances on hand to cover it. This gives Ideal Credit Union a Texas Ratio of 5.52% which is excellent. Any bank with a Texas Ratio near or greater than 100% is considered at risk.
The Texas Ratio for Ideal Credit Union decreased slightly from 7.85% as of March 31, 2013 to 5.52% as of March 31, 2014, resulting in a positive change of 29.60%.This indicates that the balance sheet and financial strength for Ideal Credit Union has improved slightly in recent periods.
In the past year, Ideal Credit Union has increased its total deposits by $5.42 million, resulting in 1.2% 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 Ideal Credit Union has shown is above average.
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. Ideal Credit Union has $567.66 million in assets with $53.71 million in equity, resulting in a capitalization level of 9.46%, which is average.
|Assets and Liabilities|
|Equity Capital||$50.68 million|
|Loan Loss Allowance||$3.03 million|
|Unbacked Noncurrent Loans||$2.37 million|
|Real Estate Owned||$596,000|
|Historic Data - March 2013|
|Equity Capital||$46.73 million|
|Loan Loss Allowance||$3.22 million|
|Unbacked Noncurrent Loans||$2.37 million|
|Real Estate Owned||$997,000|
|Profit Margin - Quarterly|
|Net Interest Margin||0.97%|
|Return on Assets||0.59%|
|Return on Equity||6.58%|
|Interest Income||$4.49 million|
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|0.35%||$100k||-||Health Savings Account|
|0.35%||$100k||-||Premium IRA Money Market|
|0.35%||$100k||-||Premium Money Market|
|0.15%||$100k||-||Optimum Business Checking|
|0.05%||$500||-||Simply Business Checking|
|1.26%||$70k||-||60 Month CD|
|1.00%||$70k||-||26 Month Special CD|
|0.95%||$70k||-||48 Month CD|
|0.85%||$70k||-||36 Month CD|
|0.85%||$2,500||-||60 Month Bump-up CD|
|0.80%||$70k||-||30 Month CD|
|0.80%||$100||-||60 Month Savers CD|
|0.70%||$70k||-||13 Month Special CD|
|0.60%||$70k||-||24 Month CD|
|0.60%||$100||-||48 Month Savers CD|
|0.55%||$70k||-||18 Month CD|
|0.45%||$2,500||-||36 Month Bump-up CD|
|0.45%||$100||-||36 Month Savers CD|
|0.40%||$100||-||30 Month Savers CD|
|0.30%||$70k||-||6 Month CD|
|0.30%||$70k||-||12 Month CD|
|0.30%||$100||-||24 Month Savers CD|
|0.25%||$70k||-||91 Day CD|
|0.25%||$100||-||18 Month Savers CD|
|0.10%||$100||-||12 Month Savers CD|
|0.05%||$100||-||6 Month Savers CD|
|1.26%||$70k||-||60 Month IRA|
|0.95%||$70k||-||48 Month IRA|
|0.85%||$70k||-||36 Month IRA|
|0.80%||$70k||-||30 Month IRA|
|0.60%||$70k||-||24 Month IRA|
|0.55%||$70k||-||18 Month IRA|
|0.30%||$70k||-||6 Month IRA|
|0.30%||$70k||-||12 Month IRA|
|0.25%||$70k||-||91 Day IRA|
|Ideal Credit Union Locations|
|Branch Office||2401 McKnight Rd N||North Saint Paul, MN 55109-2211|
|Branch Office||3225 Denmark Ave||Eagan, MN 55121-1382|
|Branch Office||828 Greenway Ave N||Oakdale, MN 55128-6200|
|Branch Office||8499 Tamarack Rd||Woodbury, MN 55125-9201|
|Branch Office||14750 Victor Hugo Blvd N||Hugo, MN 55038-4561|
|Branch Office||1725 Robert St S||West Saint Paul, MN 55118-3934|