Members 1st of NJ FCU
Members 1st of NJ FCU is headquartered in Vineland and is the 45th largest credit union in the state of New Jersey. It is also the 2,319st largest credit union in the nation. It was established in 1938 and as of December of 2013, it had grown to 15 employees and 7,190 members. Members 1st of NJ FCU has a B health rating.
Field of Membership Restrictions
Must be an employee of the Board of Education in Cumberland County, NJ or other select companies. - See Details
Customer Service Needs Improvement
Customer service representatives need a little more training in communications with their customer.
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 of NJ FCU had $353,000 in non-current loans and owned real-estate with $4.18 million in equity and loan loss allowances on hand to cover it. This gives Members 1st of NJ FCU a Texas Ratio of 8.45% 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 of NJ FCU experienced no significant changes from 6.87% as of December 31, 2012 to 8.45% as of December 31, 2013, resulting in a negative change of 22.92%. This indicates that the balance sheet and financial strength for Members 1st of NJ FCU has had no significant changes in recent periods.
Deposit Growth
In the past year, Members 1st of NJ FCU has increased its total deposits by $1.38 million, resulting in 3.33% 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 of NJ FCU has shown is excellent.
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 of NJ FCU has $47.74 million in assets with $4.18 million in equity, resulting in a capitalization level of 8.75%, which is average.
Institution Statistics
| Overall | |
|---|---|
| NCUA # | 2574 |
| Year Chartered | 1938 |
| Employees | 15 |
| Primary Regulator |
| Assets and Liabilities | |
|---|---|
| Assets | $47.74 million |
| Loans | $25.31 million |
| Deposits | $42.94 million |
| Equity Capital | $4.08 million |
| Loan Loss Allowance | $100,000 |
| Unbacked Noncurrent Loans | $353,000 |
| Real Estate Owned | $0 |
| Historic Data - December 2012 | |
|---|---|
| Assets | $45.51 million |
| Equity Capital | $4.01 million |
| Loan Loss Allowance | $212,000 |
| Unbacked Noncurrent Loans | $353,000 |
| Real Estate Owned | $0 |
| Profit Margin - Quarterly | |
|---|---|
| Net Interest Margin | 6.34% |
| Return on Assets | 0.15% |
| Return on Equity | 1.77% |
| Interest Income | $1.82 million |
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Members 1st of NJ FCU Savings Account Rates
| Details | APY | MIN | MAX | PRODUCT |
|---|---|---|---|---|
| 0.25% | $100 | - | IRA Savings | |
| 0.05% | $100 | - | Share Savings | |
| 0.05% | - | - | Christmas Club | |
| 0.05% | - | - | Vacation Club |
Members 1st of NJ FCU Money Market Rates
| Details | APY | MIN | MAX | PRODUCT |
|---|---|---|---|---|
| 0.20% | $25k | - | Money Market Account |
Members 1st of NJ FCU Checking Account Rates
| Details | APY | MIN | MAX | PRODUCT |
|---|---|---|---|---|
| 0.05% | $300 | - | Checking Account |
Members 1st of NJ FCU CD Rates
| Details | APY | MIN | MAX | PRODUCT |
|---|---|---|---|---|
| 1.01% | $1k | - | 60 Month CD | |
| 0.65% | $1k | - | 36 Month CD | |
| 0.55% | $1k | - | 18 Month CD | |
| 0.55% | $1k | - | 24 Month CD | |
| 0.30% | $1k | - | 12 Month CD | |
| 0.20% | $500 | - | 6 Month CD |
Members 1st of NJ FCU IRA Rates
| Details | APY | MIN | MAX | PRODUCT |
|---|---|---|---|---|
| 1.01% | $1k | - | 60 Month IRA | |
| 0.65% | $1k | - | 36 Month IRA | |
| 0.55% | $1k | - | 18 Month IRA | |
| 0.55% | $1k | - | 24 Month IRA | |
| 0.30% | $1k | - | 12 Month IRA | |
| 0.20% | $500 | - | 6 Month IRA |
| Members 1st of NJ FCU Locations | ||
|---|---|---|
| Branch Office | 37 W Landis Ave | Vineland, NJ 08360-8122 |
| Branch Office | 9 N Main St | Woodstown, NJ 08098 |
| Branch Office | 28A Cornwell Dr | Bridgeton, NJ 08302 |