Latvian Cleveland Credit Union is headquartered in Lakewood and is the 129th largest credit union in the state of Ohio. It is also the 2,881st largest credit union in the nation. It was established in 1960 and as of September of 2013, it had grown to 2 employees and 1,096 members. Latvian Cleveland Credit Union's money market rates are 48% higher than the national average, and it has a A health rating.
Must be a Latvian descent, who is a member of an acknowledged religious organization or church. Also open to employees and members of American Latvian Association and members of the Estonian Evangelical Lutheran Church, Cleveland, Ohio congregation. - See Details
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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 September 30, 2013 Latvian Cleveland Credit Union had $49,000 in non-current loans and owned real-estate with $4.09 million in equity and loan loss allowances on hand to cover it. This gives Latvian Cleveland Credit Union a Texas Ratio of 1.20% which is excellent. Any bank with a Texas Ratio near or greater than 100% is considered at risk.
The Texas Ratio for Latvian Cleveland Credit Union increased slightly from 0.00% as of September 30, 2012 to 1.20% as of September 30, 2013, resulting in a negative change of Infinity%. This indicates that the balance sheet and financial strength for Latvian Cleveland Credit Union has declined slightly in recent periods.
In the past year, Latvian Cleveland Credit Union has decreased its total deposits by $-570,000, resulting in -2.03% 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 Latvian Cleveland Credit Union has shown is average.
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. Latvian Cleveland Credit Union has $31.46 million in assets with $4.09 million in equity, resulting in a capitalization level of 12.99%, which is excellent.
|Assets and Liabilities|
|Equity Capital||$3.86 million|
|Loan Loss Allowance||$222,000|
|Unbacked Noncurrent Loans||$49,000|
|Real Estate Owned||$0|
|Historic Data - September 2012|
|Equity Capital||$3.73 million|
|Loan Loss Allowance||$165,000|
|Real Estate Owned||$0|
|Profit Margin - Quarterly|
|Net Interest Margin||3.37%|
|Return on Assets||0.44%|
|Return on Equity||3.59%|
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|0.75%||-||-||Roth IRA Savings|
|0.75%||-||-||Educational IRA Savings|
|0.75%||-||-||Health Savings Account|
|0.50%||$2,500||-||Share Savings Account|
|0.65%||$50k||-||Money Market Savings Account|
|1.90%||$500||-||60 Month CD|
|1.65%||$500||-||48 Month CD|
|1.40%||$500||-||36 Month CD|
|0.90%||$500||-||24 Month CD|
|0.85%||$500||-||18 Month CD|
|0.75%||$500||-||12 Month CD|
|0.55%||$500||-||6 Month CD|
|1.90%||-||-||60 Month IRA|
|1.90%||-||-||60 Month Roth IRA|
|1.90%||-||-||60 Month Educational IRA|
|1.65%||-||-||48 Month IRA|
|1.65%||-||-||48 Month Roth IRA|
|1.65%||-||-||48 Month Educational IRA|
|1.40%||-||-||36 Month IRA|
|1.40%||-||-||36 Month Roth IRA|
|1.40%||-||-||36 Month Educational IRA|
|0.90%||-||-||24 Month IRA|
|0.90%||-||-||24 Month Roth IRA|
|0.90%||-||-||24 Month Educational IRA|
|0.85%||-||-||18 Month IRA|
|0.85%||-||-||18 Month Roth IRA|
|0.85%||-||-||18 Month Educational IRA|
|0.75%||-||-||12 Month IRA|
|0.75%||-||-||12 Month Roth IRA|
|0.75%||-||-||12 Month Educational IRA|
|Latvian Cleveland Credit Union Locations|
|Branch Office||1385 Andrews Ave||Lakewood, OH 44107-2405|