5 star ratingAverage User Rating:
5 star rating based on 1 review.

Lenco Credit Union

Lenco Credit Union Locations
615 W. Maple Ave.
Adrian, MI 49221
(1-866-905-3626)
www.lenco.org

Lenco Credit Union is headquartered in Adrian and is the 139th largest credit union in the state of Michigan. It is also the 2,040th largest credit union in the nation. It was established in 1970 and as of December of 2011, it had grown to 10 employees and 5,812 members. Lenco Credit Union's money market rates are 70% higher than the national average, and it boasts a 5-star health rating.

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4.00% 9-Month CD at a Michigan CU (Lenco) - 6/30/2008

Lenco Credit Union has a special 4.00% APY 9-month CD. The minimum deposit is $3,000. The rate table doesn't have any details, but according to the credit union, it requires that you be enrolled in online banking, and the CD must be opened...



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

Lenco Credit Union Checking Account Rates

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0.25%--Share Draft Account

Lenco Credit Union Savings Account Rates

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0.50%--Regular Share Account
0.50%--Christmas Club Account
0.50%--Secondary Share Account

Lenco Credit Union Money Market Rates

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0.75%$2,500-Money Market Account

Lenco Credit Union CD Rates

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1.40%$3k-60 Month CD
1.20%$3k-48 Month CD
1.00%$3k-36 Month CD
0.90%$3k-30 Month CD
0.80%$3k-24 Month CD
0.60%$3k-12 Month CD
0.60%$3k-15 Month CD
0.60%$3k-18 Month CD
0.60%$3k-21 Month CD
0.50%$3k-6 Month CD
0.50%$3k-9 Month CD
0.25%$3k-3 Month CD

Rates updated: 5/25/2012

Data for Q4 2011


Institution Statistics


LENCO
NCUA #60991
BankRate ReportView
Year Chartered1970
Employees10
Primary Regulator

Assets and Liabilities

Assets$58.41 million
Loans$22.38 million
Deposits$52.75 million
Equity Capital$5.22 million
Loan Loss Allowance$147,000
Unbacked Noncurrent Loans$357,000

Historic Data - December 2010

Assets$50.99 million
Equity Capital$5.01 million
Loan Loss Allowance$194,000
Unbacked Noncurrent Loans$273,000

Profit Margin - Quarterly

Net Interest Margin5.37%
Return on Assets0.37%
Return on Equity4.12%
Interest Income$1.83 million
Non-Interest Income$324,000

Institution Health


Overall Score:
5 out of 5
5
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 December 31, 2011 Lenco Credit Union had $357,000 in non-current loans and owned real-estate with $5.37 million in equity and loan loss allowances on hand to cover it. This gives Lenco Credit Union a Texas Ratio of 6.65% which is excellent. Any bank with a Texas Ratio near or greater than 100% is considered at risk.
Texas Ratio Trend3
The Texas Ratio for Lenco Credit Union held steady from 5.25% as of December 31, 2010 to 6.65% as of December 31, 2011, resulting in a negative change of 26.70%. This indicates that the balance sheet and financial strength for Lenco Credit Union has held steady in recent periods.
Deposit Growth5
In the past year, Lenco Credit Union has increased its total deposits by $7.02 million, resulting in 15.35% 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 Lenco Credit Union has shown is excellent.
Capitalization3
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. Lenco Credit Union has $58.41 million in assets with $5.37 million in equity, resulting in a capitalization level of 9.19%, which is average.
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Lenco Has Been Great For Me...
5 stars - kdoggg - Monday, March 14, 2011 - 8:10 AM

 I have been a member of Lenco Credit Union for over ten years and I must say they have been a pleasure to deal with.  First off, the employees are very nice, which has made my banking with them much better.  Being a local company, you really get the feeling they value your business.  From my weekly dealings with the tellers, to the few times I’ve sat down with a manager to discuss larger loans and transactions, they all have been very helpful.  I also like their website very much, it is simple to understand and not cluttered with a bunch of offers and ads.  The best part of Lenco is that they are very solid financially, and I know they will be there in the future to continue to service my loans.  At Lenco, you don’t get the feeling like you are only valued by the size of your account (like at the big banks) you actually feel the appreciation they have for your business.  If you live in Lenawee County and have a need of a loan, you should speak to Lenco Credit Union.  They worked very closely with me on my loans, provided competitive rates, and terrific customer service every time I called or visited the branch.

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