Dedicated to Deposits: Deals, Data, and Discussion
Featured Savings Rates
Featured Accounts
Overview / Commentary
651-770-7700
8499 Tamarack Rd
Woodbury, MN 55125-9201

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.

Field of Membership Restrictions

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

Reviews (1)

Great Place

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.



Health

Data for Q1 2014

Institution Health

A

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 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.

Texas Ratio Trend

GRADE:
B+

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.

Deposit Growth

GRADE:
B+

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.

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. 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.

Institution Statistics

Overall
NCUA #62978
Year Chartered1926
Employees122
Primary Regulator
Assets and Liabilities
Assets$567.66 million
Loans$440.85 million
Deposits$455.93 million
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
Assets$559.07 million
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
Return on Assets0.59%
Return on Equity6.58%
Interest Income$4.49 million
Rates

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

Ideal Credit Union Savings Account Rates

DetailsAPYMINMAXPRODUCT
0.35%$100k-Health Savings Account
0.05%--Share Savings
0.05%--Reserve Savings
0.05%--Christmas Club
0.05%--Vacation Club

Ideal Credit Union Money Market Rates

DetailsAPYMINMAXPRODUCT
0.35%$100k-Premium IRA Money Market
0.35%$100k-Premium Money Market

Ideal Credit Union Checking Account Rates

DetailsAPYMINMAXPRODUCT
0.15%$100k-Optimum Business Checking
0.15%$50k-Relationship Checking
0.05%$500-Simply Business Checking

Ideal Credit Union CD Rates

DetailsAPYMINMAXPRODUCT
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

Ideal Credit Union IRA Rates

DetailsAPYMINMAXPRODUCT
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
Locations


Ideal Credit Union Locations
Branch Office2401 McKnight Rd NNorth Saint Paul, MN 55109-2211
Branch Office3225 Denmark AveEagan, MN 55121-1382
Branch Office828 Greenway Ave NOakdale, MN 55128-6200
Branch Office8499 Tamarack RdWoodbury, MN 55125-9201
Branch Office14750 Victor Hugo Blvd NHugo, MN 55038-4561
Branch Office1725 Robert St SWest Saint Paul, MN 55118-3934