Members 1St CU (CA)
Members 1St CU (CA) is headquartered in Redding and is the 150th largest credit union in the state of California. It is also the 1,470th largest credit union in the nation. It was established in 1936 and as of December of 2013, it had grown to 48 employees and 16,512 members. Members 1St CU (CA) has a A+ health rating.
Field of Membership Restrictions
Must live, work or worship in Shasta or Tehama County or be a student, government or school employee in Butte, Glenn, Lassen, Modoc, Plumas, Sierra, Siskiyou or Trinity County. - See Details
STAY AWAY!!!
STAY AWAY FROM MEMBERS 1ST IN REDDING!!! I have to start off by saying, the girls that work the counters inside are very nice, I have no problem with them. There customer service as a bank is horrible. To start with their "free" cheeking isn't free. You have to open a savings account and put at least $25 in it that you can't touch. So the free checking is actually $25. No big deal. I open my account and make my first two deposits in the bank. On my third deposit it was a weekend, so they were not open of course and I needed to make my deposit using the ATM. When I tried to make my deposit it would not let me. I waited till Monday morning to go in the bank to find out what was going on. The lady at the counter says, "you can't make ATM deposits for 30 days after opening an account." Mind you this was never stated when I opened my account and my account had been open for over 45 days. To which she said, "oh I guess we forgot to take the hold off of your account." Now fast forward to month number 3. I made a CASH deposit in the ATM and a day latter pay my credit card payments on line. Not only did Members 1st decline all my payments costing me $35 from each of my credit card companies. Members 1st charged me $100 in return fees! When I talked to the manager at the bank about getting the $100 returned, since the money was in my account and it was in cash, so there was no need for any checks to clear, she said "no, we can't return the money. The sign on the ATM states it takes two days for deposits to clear."
All I can say is there customer service is the worst I have ever seen. Especially for a "local" bank. I hope this post saves at least one other person from making the same mistake I did by using this bank.
Data for Q4 2013
Institution Health
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, 2013 Members 1St CU (CA) had $123,000 in non-current loans and owned real-estate with $12.91 million in equity and loan loss allowances on hand to cover it. This gives Members 1St CU (CA) a Texas Ratio of 0.95% which is excellent. Any bank with a Texas Ratio near or greater than 100% is considered at risk.
Texas Ratio Trend
The Texas Ratio for Members 1St CU (CA) decreased dramatically from 2.32% as of December 31, 2012 to 0.95% as of December 31, 2013, resulting in a positive change of 59.01%.This indicates that the balance sheet and financial strength for Members 1St CU (CA) has improved dramatically in recent periods.
Deposit Growth
In the past year, Members 1St CU (CA) has increased its total deposits by $1.12 million, resulting in 1.28% 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 Members 1St CU (CA) has shown is above average.
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. Members 1St CU (CA) has $102.1 million in assets with $12.91 million in equity, resulting in a capitalization level of 12.65%, which is excellent.
Institution Statistics
| Overall | |
|---|---|
| NCUA # | 62677 |
| Year Chartered | 1936 |
| Employees | 48 |
| Primary Regulator |
| Assets and Liabilities | |
|---|---|
| Assets | $102.10 million |
| Loans | $59.01 million |
| Deposits | $88.96 million |
| Equity Capital | $12.37 million |
| Loan Loss Allowance | $543,000 |
| Unbacked Noncurrent Loans | $123,000 |
| Real Estate Owned | $0 |
| Historic Data - December 2012 | |
|---|---|
| Assets | $100.70 million |
| Equity Capital | $12.50 million |
| Loan Loss Allowance | $841,000 |
| Unbacked Noncurrent Loans | $123,000 |
| Real Estate Owned | $0 |
| Profit Margin - Quarterly | |
|---|---|
| Net Interest Margin | 5.31% |
| Return on Assets | 0.19% |
| Return on Equity | 1.54% |
| Interest Income | $3.49 million |
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Members 1St CU (CA) Savings Account Rates
| Details | APY | MIN | MAX | PRODUCT |
|---|---|---|---|---|
| 0.10% | $100 | - | IRA Share Account | |
| 0.10% | $100 | - | Roth IRA Share Account | |
| 0.10% | $100 | - | Educational IRA Share Account | |
| 0.05% | $100 | - | Basic Share Account | |
| 0.05% | - | - | Child Share Account |
Members 1St CU (CA) Money Market Rates
| Details | APY | MIN | MAX | PRODUCT |
|---|---|---|---|---|
| 0.20% | $50k | - | Money Market Account |
Members 1St CU (CA) Checking Account Rates
| Details | APY | MIN | MAX | PRODUCT |
|---|---|---|---|---|
| 0.00% | - | - | Draft Plus Account | |
| 0.00% | - | - | Share Draft Account |
Members 1St CU (CA) CD Rates
| Details | APY | MIN | MAX | PRODUCT |
|---|---|---|---|---|
| 0.50% | $100k | - | 24 Month Share Certificate | |
| 0.40% | $100k | - | 12-17 Month Share Certificate | |
| 0.40% | $100k | - | 18-23 Month Share Certificate | |
| 0.35% | $100k | - | 6-11 Month Share Certificate |
Members 1St CU (CA) IRA Rates
| Details | APY | MIN | MAX | PRODUCT |
|---|---|---|---|---|
| 0.50% | $100k | - | 24 Month IRA Certificate (Traditional,Roth,CESA) | |
| 0.40% | $100k | - | 12-17 Month IRA Certificate (Traditional,Roth,CESA) | |
| 0.40% | $100k | - | 18-23 Month IRA Certificate (Traditional,Roth,CESA) | |
| 0.35% | $100k | - | 6-11 Month IRA Certificate (Traditional,Roth,CESA) |
| Members 1St CU (CA) Locations | ||
|---|---|---|
| Branch Office | 5020 Rhonda Rd | Anderson, CA 96007-9014 |
| Branch Office | 1380 Hilltop Dr | Redding, CA 96003-3805 |
| Branch Office | 1260 Pine St | Redding, CA 96001-0606 |
| Branch Office | 4710 Mountain Lakes Blvd | Redding, CA 96003 |