MAC Federal Credit Union is headquartered in Fairbanks and is the 7th largest credit union in the state of Alaska. It is also the 1,592nd largest credit union in the nation. It was established in 1952 and as of December of 2013, it had grown to 28 employees and 13,303 members. MAC Federal Credit Union's savings rates are 92% higher than the national average, and it has a B+ health rating.
Eligible persons are those who live, work, worship, or attend school in the Fairbanks-North Star Borough, and businesses and other legal entities located in the Fairbanks-North Star Borough. Employees of the qualified employee groups that are within the field of membership, and current members' immediate family by blood or marriage also qualify credit union membership. - 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 December 31, 2013 MAC Federal Credit Union had $729,000 in non-current loans and owned real-estate with $14.04 million in equity and loan loss allowances on hand to cover it. This gives MAC Federal Credit Union a Texas Ratio of 5.19% which is excellent. Any bank with a Texas Ratio near or greater than 100% is considered at risk.
The Texas Ratio for MAC Federal Credit Union decreased slightly from 6.16% as of December 31, 2012 to 5.19% as of December 31, 2013, resulting in a positive change of 15.67%.This indicates that the balance sheet and financial strength for MAC Federal Credit Union has improved slightly in recent periods.
In the past year, MAC Federal Credit Union has decreased its total deposits by $-870,000, resulting in -1.14% 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 MAC Federal 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. MAC Federal Credit Union has $90.16 million in assets with $14.04 million in equity, resulting in a capitalization level of 15.57%, which is excellent.
|Assets and Liabilities|
|Equity Capital||$12.61 million|
|Loan Loss Allowance||$1.43 million|
|Unbacked Noncurrent Loans||$579,000|
|Real Estate Owned||$150,000|
|Historic Data - December 2012|
|Equity Capital||$11.94 million|
|Loan Loss Allowance||$1.56 million|
|Unbacked Noncurrent Loans||$579,000|
|Real Estate Owned||$175,000|
|Profit Margin - Quarterly|
|Net Interest Margin||7.73%|
|Return on Assets||1.27%|
|Return on Equity||9.05%|
|Interest Income||$4.92 million|
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|1.00%||-||-||IRA Savings Account|
|1.00%||-||-||Roth IRA Savings Account|
|1.00%||-||-||CESA Savings Account|
|1.00%||-||-||Converted Roth IRA Savings|
|0.65%||-||$50k||Holiday Savings Club|
|0.65%||-||-||MAC Teen Savings Club|
|0.65%||-||$50k||MAC Kids Club|
|0.50%||$50||-||Regular Share Savings|
|0.50%||-||-||Business Share Savings|
|0.75%||$50k||-||Money Market Account|
|1.65%||$1k||-||48 Month CD|
|1.54%||$10k||-||36 Month CD|
|1.15%||$1k||-||24 Month CD|
|0.85%||$1k||-||12 Month CD|
|0.50%||$1k||-||6 Month CD|
|1.15%||-||-||24 Month IRA|
|1.15%||-||-||24 Month Roth IRA|
|1.15%||-||-||24 Month Converted Roth IRA|
|1.15%||-||-||24 Month CESA|
|0.85%||-||-||12 Month IRA|
|0.85%||-||-||12 Month Roth IRA|
|0.85%||-||-||12 Month Converted Roth IRA|
|0.85%||-||-||12 Month CESA|
|MAC Federal Credit Union Locations|
|Branch Office||3700 Santiago St||Fort Wainwright, AK 99703|
|Branch Office||541 10th Ave||Fairbanks, AK 99701|