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Overview / Commentary
1385 Andrews Avenue
Lakewood, OH 44107

Latvian Cleveland Credit Union is headquartered in Lakewood and is the 128th largest credit union in the state of Ohio. It is also the 2,852nd largest credit union in the nation. It was established in 1960 and as of December of 2013, it had grown to 3 employees and 1,090 members. Latvian Cleveland Credit Union's money market rates are 48% higher than the national average, and it has a B+ health rating.

Field of Membership Restrictions

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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Data for Q4 2013

Institution Health

Additional Factors: Institutions with a small asset base or a short operating history can represent an instability risk beyond what their financial ratios indicate. Latvian Cleveland Credit Union has a low asset base.

Texas Ratio


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 Latvian Cleveland Credit Union had $4,000 in non-current loans and owned real-estate with $4.12 million in equity and loan loss allowances on hand to cover it. This gives Latvian Cleveland Credit Union a Texas Ratio of 0.10% which is excellent. Any bank with a Texas Ratio near or greater than 100% is considered at risk.

Texas Ratio Trend


The Texas Ratio for Latvian Cleveland Credit Union decreased dramatically from 2.56% as of December 31, 2012 to 0.10% as of December 31, 2013, resulting in a positive change of 96.20%.This indicates that the balance sheet and financial strength for Latvian Cleveland Credit Union has improved dramatically in recent periods.

Deposit Growth


In the past year, Latvian Cleveland Credit Union has decreased its total deposits by $-382,000, resulting in -1.35% 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 $31.82 million in assets with $4.12 million in equity, resulting in a capitalization level of 12.95%, which is excellent.

Institution Statistics

NCUA #62822
Year Chartered1960
Primary Regulator
Assets and Liabilities
Assets$31.82 million
Loans$20.34 million
Deposits$27.86 million
Equity Capital$3.90 million
Loan Loss Allowance$223,000
Unbacked Noncurrent Loans$4,000
Real Estate Owned$0
Historic Data - December 2012
Assets$32.05 million
Equity Capital$3.76 million
Loan Loss Allowance$188,000
Unbacked Noncurrent Loans$4,000
Real Estate Owned$0
Profit Margin - Quarterly
Net Interest Margin4%
Return on Assets0.43%
Return on Equity3.49%
Interest Income$948,000

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Latvian Cleveland Credit Union Savings Account Rates

0.75%--IRA Savings
0.75%--Roth IRA Savings
0.75%--Educational IRA Savings
0.75%--Health Savings Account
0.50%--Christmas Club
0.50%--Vacation Club
0.50%$2,500-Share Savings Account

Latvian Cleveland Credit Union Money Market Rates

0.65%$50k-Money Market Savings Account

Latvian Cleveland Credit Union Checking Account Rates

0.05%--Checking Account

Latvian Cleveland Credit Union CD Rates

2.00%$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

Latvian Cleveland Credit Union IRA Rates

1.90%--60 Month IRA (Traditional,Roth,CESA)
1.65%--48 Month IRA (Traditional,Roth,CESA)
1.40%--36 Month IRA (Traditional,Roth,CESA)
0.90%--24 Month IRA (Traditional,Roth,CESA)
0.85%--18 Month IRA (Traditional,Roth,CESA)
0.75%--12 Month IRA (Traditional,Roth,CESA)

Latvian Cleveland Credit Union Locations
Branch Office1385 Andrews AveLakewood, OH 44107-2405