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888-336-3490
1619 Plainfield Ave Ne
Grand Rapids, MI 49505

Kent County Credit Union is headquartered in Grand Rapids and is the 163rd largest credit union in the state of Michigan. It is also the 2,566th largest credit union in the nation. It was established in 1956 and as of December of 2013, it had grown to 17 employees and 6,139 members. Kent County Credit Union has a B+ health rating.

Field of Membership Restrictions

Must live, work, worship or attend school in Kent County. - 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. Kent County 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 Kent County Credit Union had $110,000 in non-current loans and owned real-estate with $4.18 million in equity and loan loss allowances on hand to cover it. This gives Kent County Credit Union a Texas Ratio of 2.63% 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 Kent County Credit Union decreased slightly from 2.99% as of December 31, 2012 to 2.63% as of December 31, 2013, resulting in a positive change of 11.96%.This indicates that the balance sheet and financial strength for Kent County Credit Union has improved slightly in recent periods.

Deposit Growth

GRADE:
A+

In the past year, Kent County Credit Union has increased its total deposits by $1.8 million, resulting in 5.29% 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 Kent County Credit Union has shown is excellent.

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. Kent County Credit Union has $39.88 million in assets with $4.18 million in equity, resulting in a capitalization level of 10.48%, which is above average.

Institution Statistics

Overall
NCUA #62249
Year Chartered1956
Employees17
Primary Regulator
Assets and Liabilities
Assets$39.89 million
Loans$16.95 million
Deposits$35.92 million
Equity Capital$4.01 million
Loan Loss Allowance$165,000
Unbacked Noncurrent Loans$110,000
Real Estate Owned$0
Historic Data - December 2012
Assets$38.41 million
Equity Capital$4.05 million
Loan Loss Allowance$197,000
Unbacked Noncurrent Loans$110,000
Real Estate Owned$0
Profit Margin - Quarterly
Net Interest Margin6.45%
Return on Assets-0.09%
Return on Equity-0.87%
Interest Income$1.37 million
Rates

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Locations


Kent County Credit Union Locations
Branch Office1619 Plainfield AVE NEGrand Rapids, MI 49505-4703
Branch Office901 Gezon PKWY SWWyoming, MI 49509-9564
Branch Office14111 White Creek Ave NECedar Springs, MI 49319-8169