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Overview / Commentary
360-695-3441
1313 Main St
Vancouver, WA 98660-2918

iQ Credit Union is headquartered in Vancouver and is the 18st largest credit union in the state of Washington. It is also the 418st largest credit union in the nation. It was established in 1940 and as of March of 2014, it had grown to 169 employees and 49,852 members. iQ Credit Union has a A health rating.

Field of Membership Restrictions

You are qualified for iQ Credit Union membership if you live, work, worship or go to school in the state of Washington. Family members of any current member are also eligible to join. To establish membership with the credit union, each member must provide a minimum of $5 to deposit into a Share/Savings account. - See Details

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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 iQ Credit Union had $708,000 in non-current loans and owned real-estate with $47.96 million in equity and loan loss allowances on hand to cover it. This gives iQ Credit Union a Texas Ratio of 1.48% 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 iQ Credit Union decreased dramatically from 6.11% as of March 31, 2013 to 1.48% as of March 31, 2014, resulting in a positive change of 75.84%.This indicates that the balance sheet and financial strength for iQ Credit Union has improved dramatically in recent periods.

Deposit Growth

GRADE:
A+

In the past year, iQ Credit Union has increased its total deposits by $28.27 million, resulting in 6.2% 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 iQ Credit Union has shown is excellent.

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. iQ Credit Union has $534.47 million in assets with $47.96 million in equity, resulting in a capitalization level of 8.97%, which is average.

Institution Statistics

Overall
NCUA #60438
Year Chartered1940
Employees169
Primary Regulator
Assets and Liabilities
Assets$534.47 million
Loans$325.63 million
Deposits$484.49 million
Equity Capital$44.28 million
Loan Loss Allowance$3.68 million
Unbacked Noncurrent Loans$666,000
Real Estate Owned$42,000
Historic Data - March 2013
Assets$499.30 million
Equity Capital$38.87 million
Loan Loss Allowance$4.42 million
Unbacked Noncurrent Loans$666,000
Real Estate Owned$1.25 million
Profit Margin - Quarterly
Net Interest Margin1.14%
Return on Assets1.21%
Return on Equity14.57%
Interest Income$4.23 million
Rates

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iQ Credit Union Savings Account Rates

DetailsAPYMINMAXPRODUCT
0.30%$25-IRA Share
0.30%$25-Roth IRA Share
0.30%$25-CESA Share
0.05%$100-Business Regular Share
0.05%$100-Regular Share

iQ Credit Union Money Market Rates

DetailsAPYMINMAXPRODUCT
0.15%$50k-Money Market Account
0.05%-$1kBusiness Money Market

iQ Credit Union Checking Account Rates

DetailsAPYMINMAXPRODUCT
1.00%-$25kIntelligent Checking - Qualifying
0.05%$10k-Business Dividend Checking
0.05%--Interest Checking
0.03%--Intelligent Checking - Non Qualifying

iQ Credit Union CD Rates

DetailsAPYMINMAXPRODUCT
1.00%$1k-60 Month Certificate
0.65%$1k-36 Month Certificate
0.30%$1k-24 Month Certificate
0.30%$1k-24 Month Youth Certificate
0.10%$1k-6 Month Certificate
0.10%$1k-9 Month Certificate
0.10%$1k-12 Month Certificate
0.10%$1k-6 Month Youth Certificate
0.10%$1k-12 Month Youth Certificate
0.05%$1k-3 Month Certificate

iQ Credit Union IRA Rates

DetailsAPYMINMAXPRODUCT
1.00%$1k-60 Month IRA
0.65%$1k-36 Month IRA
0.30%$1k-24 Month IRA
0.10%$1k-6 Month IRA
0.10%$1k-12 Month IRA
Locations

iQ Credit Union has 15 locations. Click to view all iQ Credit Union locations.