Dedicated to Deposits: Deals, Data, and Discussion
Featured Savings Rates
Featured Accounts
Overview / Commentary
641-428-7361
1341 6th St SW
Mason City, IA 50401-4815

MCLG Family Credit Union is headquartered in Mason City and is the 36th largest credit union in the state of Iowa. It is also the 2,591st largest credit union in the nation. It was established in 1965 and as of March of 2014, it had grown to 10 employees and 4,183 members. MCLG Family Credit Union has a B+ health rating.

Field of Membership Restrictions

Must be a health related professional or employee working within a 65 mile radius of Mason City. Also open to employees of the City of Mason or several other companies. - See Details

No reviews have been left for this bank yet. Be the first to review.



Health

Data for Q1 2014

Institution Health

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

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 MCLG Family Credit Union had $173,000 in non-current loans and owned real-estate with $6.16 million in equity and loan loss allowances on hand to cover it. This gives MCLG Family Credit Union a Texas Ratio of 2.81% 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 MCLG Family Credit Union experienced no significant changes from 2.95% as of March 31, 2013 to 2.81% as of March 31, 2014, resulting in a positive change of 4.74%.This indicates that the balance sheet and financial strength for MCLG Family Credit Union has had no significant changes in recent periods.

Deposit Growth

GRADE:
A

In the past year, MCLG Family Credit Union has increased its total deposits by $1.31 million, resulting in 4.01% 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 MCLG Family Credit Union has shown is excellent.

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. MCLG Family Credit Union has $40.1 million in assets with $6.16 million in equity, resulting in a capitalization level of 15.35%, which is excellent.

Institution Statistics

Overall
NCUA #65238
Year Chartered1965
Employees10
Primary Regulator
Assets and Liabilities
Assets$40.10 million
Loans$22.03 million
Deposits$33.96 million
Equity Capital$6.08 million
Loan Loss Allowance$78,000
Unbacked Noncurrent Loans$173,000
Real Estate Owned$0
Historic Data - March 2013
Assets$38.56 million
Equity Capital$5.91 million
Loan Loss Allowance$88,000
Unbacked Noncurrent Loans$173,000
Real Estate Owned$85,000
Profit Margin - Quarterly
Net Interest Margin1.01%
Return on Assets0.46%
Return on Equity3.03%
Interest Income$284,000
Rates
Skip to rates for:

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

MCLG Family Credit Union Savings Account Rates

DetailsAPYMINMAXPRODUCT
0.50%--IRA Account
0.15%$25-Kids Klub Account
0.15%$25-Christmas Club Account
0.01%$25-Share Account

MCLG Family Credit Union CD Rates

DetailsAPYMINMAXPRODUCT
0.75%$1k-36 Month CD
0.50%$1k-24 Month CD

MCLG Family Credit Union IRA Rates

DetailsAPYMINMAXPRODUCT
0.75%$1k-36 Month IRA
0.50%$1k-24 Month IRA
Locations


MCLG Family Credit Union Locations
Branch Office1341 6th St SWMason City, IA 50401-4815
Branch Office1341 6th St SWMason City, IA 50401-4815