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Overview / Commentary
808-961-6691
375 Kekuanaoa St
Hilo, HI 96720

Independent Employers Group Credit Union is headquartered in HILO and is the 49th largest credit union in the state of Hawaii. It is also the 3,491st largest credit union in the nation. It was established in 1948 and as of March of 2014, it had grown to 7 employees and 2,799 members. Independent Employers Group Credit Union has a C- health rating.

Field of Membership Restrictions

Must be an employee of HT&T Hawaii or other select employer groups. - See Details

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Health

Data for Q1 2014

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. Independent Employers Group Credit Union has a low asset base.

Texas Ratio

GRADE:
B

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 Independent Employers Group Credit Union had $365,000 in non-current loans and owned real-estate with $2.15 million in equity and loan loss allowances on hand to cover it. This gives Independent Employers Group Credit Union a Texas Ratio of 16.94% which is above average. Any bank with a Texas Ratio near or greater than 100% is considered at risk.

Texas Ratio Trend

GRADE:
C-

The Texas Ratio for Independent Employers Group Credit Union increased slightly from 1.87% as of March 31, 2013 to 16.94% as of March 31, 2014, resulting in a negative change of 808.10%. This indicates that the balance sheet and financial strength for Independent Employers Group Credit Union has declined slightly in recent periods.

Deposit Growth

GRADE:
C+

In the past year, Independent Employers Group Credit Union has decreased its total deposits by $-180,000, resulting in -0.96% 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 Independent Employers Group 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. Independent Employers Group Credit Union has $20.65 million in assets with $1.46 million in equity, resulting in a capitalization level of 7.06%, which is below average.

Institution Statistics

Overall
NCUA #5628
Year Chartered1948
Employees7
Primary Regulator
Assets and Liabilities
Assets$20.65 million
Loans$9.19 million
Deposits$18.62 million
Equity Capital$1.36 million
Secondary Capital$698,000
Loan Loss Allowance$99,000
Unbacked Noncurrent Loans$365,000
Real Estate Owned$0
Historic Data - March 2013
Assets$20.92 million
Equity Capital$1.30 million
Loan Loss Allowance$94,000
Unbacked Noncurrent Loans$365,000
Real Estate Owned$0
Profit Margin - Quarterly
Net Interest Margin1.64%
Return on Assets0.15%
Return on Equity2.36%
Interest Income$184,000
Rates
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Independent Employers Group Credit Union Savings Account Rates

DetailsAPYMINMAXPRODUCT
0.30%--Christmas Savings Account
0.10%$100-Share Account
0.10%--Club Account
0.10%--Sub-Share Account

Independent Employers Group Credit Union Money Market Rates

DetailsAPYMINMAXPRODUCT
0.30%$2,500-Money Market Account
Locations


Independent Employers Group Credit Union Locations
Branch Office22 Inverness Center Pkwy Suite 400Birmingham, AL 35242
Branch Office131 Puuhonu WayHILO, HI 96720
Branch Office375 KEKUANAOA STHILO, HI 967204360