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Overview / Commentary
217-528-2642
1420 S 8th St
Springfield, IL 62703

Illinois Educators Credit Union is headquartered in Springfield and is the 72nd largest credit union in the state of Illinois. It is also the 2,340th largest credit union in the nation. It was established in 1938 and as of December of 2013, it had grown to 19 employees and 7,119 members. Illinois Educators Credit Union has a B health rating.

Field of Membership Restrictions

Membership is open to any member of Illinois Education Association, IEA/NEA; subsidiaries of IEA/NEA; affiliates of IEA/NEA; Any Employee or Retired Employee of any school located in Sangamon County; Lincoln Land Community College; University of Illinois in Springfield; students of Lincoln Land Community College or the University of Illinois at Springfield; Springfield Developmental Activity and Achievement Center; or the Horace Mann Companies. - See Details

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Health

Data for Q4 2013

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. Illinois Educators 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 Illinois Educators Credit Union had $198,000 in non-current loans and owned real-estate with $4.51 million in equity and loan loss allowances on hand to cover it. This gives Illinois Educators Credit Union a Texas Ratio of 4.39% 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 Illinois Educators Credit Union experienced no significant changes from 2.18% as of December 31, 2012 to 4.39% as of December 31, 2013, resulting in a negative change of 101.11%. This indicates that the balance sheet and financial strength for Illinois Educators Credit Union has had no significant changes in recent periods.

Deposit Growth

GRADE:
B

In the past year, Illinois Educators Credit Union has increased its total deposits by $208,000, resulting in 0.49% 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 Illinois Educators Credit Union has shown is above 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. Illinois Educators Credit Union has $47.08 million in assets with $4.51 million in equity, resulting in a capitalization level of 9.58%, which is above average.

Institution Statistics

Overall
NCUA #65305
Year Chartered1938
Employees19
Primary Regulator
Assets and Liabilities
Assets$47.09 million
Loans$32.54 million
Deposits$42.58 million
Equity Capital$4.35 million
Loan Loss Allowance$165,000
Unbacked Noncurrent Loans$198,000
Real Estate Owned$0
Historic Data - December 2012
Assets$46.66 million
Equity Capital$4.16 million
Loan Loss Allowance$147,000
Unbacked Noncurrent Loans$198,000
Real Estate Owned$0
Profit Margin - Quarterly
Net Interest Margin5.4%
Return on Assets0.4%
Return on Equity4.28%
Interest Income$2.08 million
Rates
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Illinois Educators Credit Union Savings Account Rates

DetailsAPYMINMAXPRODUCT
0.15%$2,500-Regular Share Account

Illinois Educators Credit Union Money Market Rates

DetailsAPYMINMAXPRODUCT
0.20%$25k-Money Market Account

Illinois Educators Credit Union CD Rates

DetailsAPYMINMAXPRODUCT
1.30%$10k-60 Month CD
1.06%$10k-48 Month CD
0.85%$10k-36 Month CD
0.70%$10k-30 Month CD
0.65%$10k-24 Month CD
0.45%$10k-18 Month CD
0.35%$10k-12 Month CD
0.30%$10k-9 Month CD
0.25%$10k-6 Month CD
0.15%$1k-3 Month CD
Locations


Illinois Educators Credit Union Locations
Branch Office1124 Centre West DrSpringfield, IL 62704
Branch Office1420 S 8th StSpringfield, IL 62703-2521