Magnify Credit Union

1010 N CHURCH AVE
Mulberry, FL 33860
www.cfcufl.org

NCUA

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Magnify Credit Union is headquartered in MULBERRY and is the 67^th largest credit union in the state of Florida. It is also the 1,732^nd largest credit union in the nation. It was established in 1950 and as of December of 2012, it had grown to 34 employees and 9,063 members. Magnify Credit Union has a 3-star health rating.

2.30% 15-Month CD & Other Competitive CD Rates at Magnify Credit Union in FL - Local Only - 9/25/2009

Magnify Credit Union is offering several competitive regular and IRA certificate rates. The rates as listed in the credit union's rates page as of 9/25/09 include:2.00% APY 6 month2.25% APY 12 month2.30% APY 15 month2.60% APY 24 month2.80% APY 30...

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

Magnify Credit Union Checking Account Rates

	Apy	Min	Max	Product
	0.10%	$3k	-	Eco-Draft

Magnify Credit Union Savings Account Rates

Apy	Min	Max	Product
2.00%	-	$2,500	A+ Student Savings
2.00%	-	$2,500	EcoFriends Savings
0.25%	$25	-	Rainwater Roth Share
0.25%	$25	-	Rainwater IRA Share
0.10%	$25	-	Green Club Shares
0.05%	$25	-	Eco-Share Accounts

Magnify Credit Union Money Market Rates

Apy	Min	Max	Product
0.15%	$50k	-	Solar Money Market Savings
0.15%	$10k	-	Solar Money Market Checking

Magnify Credit Union CD Rates

Apy	Min	Max	Product
0.80%	$10k	-	60 Month Bonus CD
0.70%	$500	-	60 Month CD
0.70%	$10k	-	48 Month Bonus CD
0.60%	$500	-	48 Month CD
0.60%	$10k	-	42 Month Bonus CD
0.50%	$500	-	42 Month CD
0.50%	$10k	-	36 Month Bonus CD
0.40%	$500	-	36 Month CD
0.40%	$10k	-	30 Month Bonus CD
0.35%	$10k	-	24 Month Bonus CD
0.30%	$500	-	30 Month CD
0.25%	$500	-	18 Month CD
0.25%	$500	-	24 Month CD
0.20%	$500	-	12 Month CD
0.20%	$500	-	15 Month CD
0.15%	$500	-	6 Month CD

Magnify Credit Union IRA Rates

Apy	Min	Max	Product
0.80%	$10k	-	60 Month Bonus IRA
0.80%	$10k	-	60 Month Bonus Roth IRA
0.70%	$500	-	60 Month IRA
0.70%	$10k	-	48 Month Bonus IRA
0.70%	$10k	-	48 Month Bonus Roth IRA
0.70%	$500	-	60 Month Roth IRA
0.60%	$500	-	48 Month IRA
0.60%	$10k	-	42 Month Bonus IRA
0.60%	$10k	-	42 Month Bonus Roth IRA
0.60%	$500	-	48 Month Roth IRA
0.50%	$500	-	42 Month IRA
0.50%	$10k	-	36 Month Bonus IRA
0.50%	$10k	-	36 Month Bonus Roth IRA
0.50%	$500	-	42 Month Roth IRA
0.40%	$500	-	36 Month IRA
0.40%	$10k	-	30 Month Bonus IRA
0.40%	$10k	-	30 Month Bonus Roth IRA
0.40%	$500	-	36 Month Roth IRA
0.35%	$10k	-	24 Month Bonus IRA
0.35%	$10k	-	24 Month Bonus Roth IRA
0.30%	$500	-	30 Month IRA
0.30%	$500	-	30 Month Roth IRA
0.25%	$500	-	18 Month IRA
0.25%	$500	-	24 Month IRA
0.25%	$500	-	18 Month Roth IRA
0.25%	$500	-	24 Month Roth IRA
0.20%	$500	-	12 Month IRA
0.20%	$500	-	15 Month IRA
0.20%	$500	-	12 Month Roth IRA
0.20%	$500	-	15 Month Roth IRA
0.15%	$500	-	6 Month IRA
0.15%	$500	-	6 Month Roth IRA

Rates updated: 5/22/2013

Data for Q4 2012

Institution Statistics

MAGNIFY
NCUA #	68344
BankRate Report	View
Year Chartered	1950
Employees	34
Primary Regulator
Assets and Liabilities
Assets	$78.10 million
Loans	$47.93 million
Deposits	$68.38 million
Equity Capital	$8.86 million
Loan Loss Allowance	$1.83 million
Unbacked Noncurrent Loans	$821,000
Real Estate Owned	$2.14 million
Historic Data - December 2011
Assets	$85.23 million
Equity Capital	$8.71 million
Loan Loss Allowance	$3.52 million
Unbacked Noncurrent Loans	$1.30 million
Real Estate Owned	$2.73 million
Profit Margin - Quarterly
Net Interest Margin	7.12%
Return on Assets	0.17%
Return on Equity	1.52%
Interest Income	$3.81 million
Non-Interest Income	$1.40 million

Institution Health

Overall Score:

3 out of 5

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, 2012 Magnify Credit Union had $2.96 million in non-current loans and owned real-estate with $10.7 million in equity and loan loss allowances on hand to cover it. This gives Magnify Credit Union a Texas Ratio of 27.68% which is average. Any bank with a Texas Ratio near or greater than 100% is considered at risk.
Texas Ratio Trend
The Texas Ratio for Magnify Credit Union decreased slightly from 32.97% as of December 31, 2011 to 27.68% as of December 31, 2012, resulting in a positive change of 16.05%.This indicates that the balance sheet and financial strength for Magnify Credit Union has improved slightly in recent periods.
Deposit Growth
In the past year, Magnify Credit Union has decreased its total deposits by -$7.53 million, resulting in -9.92% 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 Magnify Credit Union has shown is poor.
Capitalization
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. Magnify Credit Union has $78.1 million in assets with $10.7 million in equity, resulting in a capitalization level of 13.70%, which is excellent.