iQ Credit Union

7017 NE Vancouver Mall Drive
Vancouver, WA 98661
1.800.247.4364
www.iqcu.com
 

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3.00% Reward Checking Account in Washington State (iQ Credit Union) - 3/5/2008

Update 5/03/09: The top yield has fallen to 3.00% APY. See bottom of post for the rate history.iQ Credit Union is offering a reward checking account called Intelligent Checking that pays 3.00% APY on balances up to $25,000 (0.10% for above) and refunds...


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See Rates for: Checking | Savings | Money Market | CD | IRA

Checking Accounts

ApyMinMaxProduct
2.00%-$25kIntelligent Checking
0.10%$10k-Business Dividend Checking
0.10%--Interest Checking

Savings Accounts

ApyMinMaxProduct
0.75%$25-IRA Shares
0.75%$25-Roth IRA Shares
0.10%$100-Business Regular Shares
0.10%$100-Regular Shares

Money Market Accounts

ApyMinMaxProduct
0.75%$350k-Business Money Market
0.55%$100k-Money Market Account

Certificates of Deposit

ApyMinMaxProduct
1.76%$1k-60 Month CD Certificate
0.99%$1k-36 Month CD Certificate
0.60%$1k-24 Month CD Certificate
0.45%$1k-12 Month CD Certificate
0.40%$1k-9 Month CD Certificate
0.30%$1k-6 Month CD Certificate
0.20%$1k-3 Month CD Certificate

IRA Accounts

ApyMinMaxProduct
1.76%$1k-60 Month IRA Certificate
1.76%$1k-60 Month Roth IRA Certificate
1.76%$1k-60 Month CESA Certificate
0.99%$1k-36 Month IRA Certificate
0.99%$1k-36 Month Roth IRA Certificate
0.99%$1k-36 Month CESA Certificate
0.60%$1k-24 Month IRA Certificate
0.60%$1k-24 Month Roth IRA Certificate
0.60%$1k-24 Month CESA Certificate
0.45%$1k-12 Month IRA Certificate
0.45%$1k-12 Month Roth IRA Certificate
0.45%$1k-12 Month CESA Certificate
0.30%$1k-6 Month IRA Certificate
0.30%$1k-6 Month Roth IRA Certificate
0.30%$1k-6 Month CESA Certificate

Institution Statistics


NCUA #60438
BankRate ReportView
Year Established1940
Employees156
Primary Regulator

Assets and Liabilities

Assets$434.04 million
Loans$300.73 million
Deposits$401.14 million
Equity Capital$27.89 million
Loan Loss Allowance$6.57 million
Unbacked Noncurrent Loans$4.06 million
Real Estate Owned$707,000

Historic Data - March 2009

Assets$432.26 million
Equity Capital$30.99 million
Loan Loss Allowance$2.91 million
Unbacked Noncurrent Loans$5.55 million

Profit Margin - Quarterly

Net Interest Margin1.33%
Return on Assets1.53%
Return on Equity23.74%
Interest Income$4.96 million
Non-Interest Income$1.66 million

Institution Health


Overall Score:
4 out of 5
4
Texas Ratio5
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 March 1, 2010 iQ Credit Union had $4.77 million in non-current loans and owned real-estate with $34.46 million in equity and loan loss allowances on hand to cover it. This gives iQ Credit Union a Texas Ratio of 13.84% which is excellent. Any bank with a Texas Ratio near or greater than 100% is considered at risk.
Texas Ratio Trend4
The Texas Ratio for iQ Credit Union decreased slightly from 16.37% as of March 1, 2009 to 13.84% as of March 1, 2010, resulting in a positive change of 15.48%.This indicates that the balance sheet and financial strength for iQ Credit Union has improved slightly in recent periods.
Deposit Growth3
In the past year, iQ Credit Union has increased it's total deposits by $9.43 million, resulting in 2.41% 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 average.
Capitalization1
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 $434.04 million in assets with $34.46 million in equity, resulting in a capitalization level of 7.94%, which is poor.
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