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Library Of Congress Federal Credit Union

Based on 1 review
Overview / Commentary
800-325-2328
101 Independence Ave SE Rm 634
Washington, DC 20540-0002

Library Of Congress Federal Credit Union is headquartered in Washington and is the 5th largest credit union in the District of Columbia. It is also the 859th largest credit union in the nation. It was established in 1935 and as of March of 2014, it had grown to 23 employees and 9,500 members. Library Of Congress Federal Credit Union has a A+ health rating.

Field of Membership Restrictions

In addition to employees and volunteers of the Libary of Congress, membership is open to anyone who lives, works, worships or attends school in Washington, DC. - See Details

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Reviews (1)

Excellent!

For restricted membership, great! Despite my bad credit  lent me $300K on mortgage, 20K on car (100% financing on both). Lotsa transacting by phone works well except CU staff assume everybody is living nearby and calls are made at 6AM my time here in CA about complex matters.



Health

Data for Q1 2014

Institution Health

A+

Texas Ratio

GRADE:
A+

The Texas Ratio is an indicator of how much capital a bank has available compared to the total value of loans considered at risk. As of March 31, 2014 Library Of Congress Federal Credit Union had $657,000 in non-current loans and owned real-estate with $29.15 million in equity and loan loss allowances on hand to cover it. This gives Library Of Congress Federal Credit Union a Texas Ratio of 2.25% which is excellent. Any bank with a Texas Ratio near or greater than 100% is considered at risk.

Texas Ratio Trend

GRADE:
C+

The Texas Ratio for Library Of Congress Federal Credit Union experienced no significant changes from 1.77% as of March 31, 2013 to 2.25% as of March 31, 2014, resulting in a negative change of 27.08%. This indicates that the balance sheet and financial strength for Library Of Congress Federal Credit Union has had no significant changes in recent periods.

Deposit Growth

GRADE:
B+

In the past year, Library Of Congress Federal Credit Union has increased its total deposits by $3.46 million, resulting in 1.82% 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 Library Of Congress Federal Credit Union has shown is above average.

Capitalization

GRADE:
A+

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. Library Of Congress Federal Credit Union has $225.36 million in assets with $29.15 million in equity, resulting in a capitalization level of 12.93%, which is excellent.

Institution Statistics

Overall
NCUA #266
Year Chartered1935
Employees23
Primary Regulator
Assets and Liabilities
Assets$225.36 million
Loans$121.52 million
Deposits$193.34 million
Equity Capital$28.38 million
Loan Loss Allowance$766,000
Unbacked Noncurrent Loans$657,000
Real Estate Owned$0
Historic Data - March 2013
Assets$219.76 million
Equity Capital$25.85 million
Loan Loss Allowance$1.44 million
Unbacked Noncurrent Loans$657,000
Real Estate Owned$0
Profit Margin - Quarterly
Net Interest Margin1.05%
Return on Assets0.79%
Return on Equity6.26%
Interest Income$1.64 million
Rates

Always verify rates and promotions with the bank or credit union. We are not Library Of Congress Federal Credit Union, we are a rate comparison website and can not provide official rates or promotions.

Library Of Congress Federal Credit Union Savings Account Rates

DetailsAPYMINMAXPRODUCT
0.25%--IRA Share Savings
0.25%--Roth IRA Share Savings
0.25%--CESA Share Savings
0.10%--Share Savings
0.10%--Holiday Savings
0.10%--Vacation Savings

Library Of Congress Federal Credit Union Money Market Rates

DetailsAPYMINMAXPRODUCT
0.30%$75k-Money Market Share Account

Library Of Congress Federal Credit Union Checking Account Rates

DetailsAPYMINMAXPRODUCT
0.05%--Share Draft Checking

Library Of Congress Federal Credit Union CD Rates

DetailsAPYMINMAXPRODUCT
1.50%$500-60 Month Share Certificate
1.20%$500-48 - 59 Month Share Certificate
0.89%$500-36 - 47 Month Share Certificate
0.80%$5k-24 Month Monthly Dividend Certificate
0.74%$500-24 - 35 Month Share Certificate
0.55%$500-18 - 23 Month Share Certificate
0.45%$500-12 - 17 Month Share Certificate
0.35%$500-6 - 11 Month Share Certificate
0.20%$500-3 - 5 Month Share Certificate

Library Of Congress Federal Credit Union IRA Rates

DetailsAPYMINMAXPRODUCT
1.56%$1k-60 Month IRA Certificate
1.26%$1k-48 - 59 Month IRA Certificate
0.96%$1k-36 - 47 Month IRA Certificate
0.80%$1k-24 - 35 Month IRA Certificate
0.65%$1k-18 - 23 Month IRA Certificate
0.55%$1k-12 - 17 Month IRA Certificate
Locations


Library Of Congress Federal Credit Union Locations
Branch Office101 Independence Ave SE Rm 634Washington, DC 20540-0002
Branch Office8100 Professional Pl Ste 308Hyattsville, MD 20785-2229