Miami Postal Service Credit Union is headquartered in Miami and is the 56th largest credit union in the state of Florida. It is also the 1,360th largest credit union in the nation. It was established in 1991 and as of December of 2013, it had grown to 45 employees and 14,336 members. Miami Postal Service Credit Union's savings rates are 2X the national average, and it has a A health rating.
Field of Membership Restrictions
In addition to postal employees and retirees, membership is open to everyone who lives, works or worships within a 15 mile radius of the three credit union branches. Membership is also open to Federal Government employees and their families. - See Details
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1/24 - New Special 9-Month CD Rate at Miami Postal Service Credit Union - Local Only
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 Miami Postal Service Credit Union had $628,000 in non-current loans and owned real-estate with $12.97 million in equity and loan loss allowances on hand to cover it. This gives Miami Postal Service Credit Union a Texas Ratio of 4.84% 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 Miami Postal Service Credit Union held steady from 4.48% as of December 31, 2012 to 4.84% as of December 31, 2013, resulting in a negative change of 8.08%. This indicates that the balance sheet and financial strength for Miami Postal Service Credit Union has held steady in recent periods.
Deposit Growth
In the past year, Miami Postal Service Credit Union has decreased its total deposits by $-397,000, resulting in -0.39% 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 Miami Postal Service Credit Union has shown is 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. Miami Postal Service Credit Union has $115.1 million in assets with $12.97 million in equity, resulting in a capitalization level of 11.27%, which is excellent.
Institution Statistics
| Overall | |
|---|---|
| NCUA # | 67330 |
| Year Chartered | 1991 |
| Employees | 45 |
| Primary Regulator |
| Assets and Liabilities | |
|---|---|
| Assets | $115.10 million |
| Loans | $46.35 million |
| Deposits | $101.99 million |
| Equity Capital | $12.09 million |
| Loan Loss Allowance | $880,000 |
| Unbacked Noncurrent Loans | $628,000 |
| Real Estate Owned | $0 |
| Historic Data - December 2012 | |
|---|---|
| Assets | $116.09 million |
| Equity Capital | $12.78 million |
| Loan Loss Allowance | $855,000 |
| Unbacked Noncurrent Loans | $628,000 |
| Real Estate Owned | $0 |
| Profit Margin - Quarterly | |
|---|---|
| Net Interest Margin | 6.09% |
| Return on Assets | 0.22% |
| Return on Equity | 2.1% |
| Interest Income | $3.94 million |
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Miami Postal Service Credit Union Savings Account Rates
| Details | APY | MIN | MAX | PRODUCT |
|---|---|---|---|---|
| 1.26% | - | - | IRA Savings Account | |
| 1.26% | - | - | Roth IRA Savings | |
| 1.26% | - | - | CESA Savings | |
| 0.40% | - | - | Regular Share | |
| 0.40% | - | - | Youth Share | |
| 0.40% | - | - | Club Account |
Miami Postal Service Credit Union CD Rates
| Details | APY | MIN | MAX | PRODUCT |
|---|---|---|---|---|
| 1.91% | $1k | - | 60 Month CD | |
| 1.00% | $1k | - | 36 Month CD | |
| 0.75% | $25k | - | 9 Month Super Jumbo CD | |
| 0.65% | $5k | - | 9 Month Jumbo CD | |
| 0.65% | $1k | - | 24 Month CD | |
| 0.50% | $1k | - | 9 Month CD | |
| 0.50% | $1k | - | 12 Month CD | |
| 0.50% | $1k | - | 18 Month CD | |
| 0.45% | $1k | - | 6 Month CD |
Miami Postal Service Credit Union IRA Rates
| Details | APY | MIN | MAX | PRODUCT |
|---|---|---|---|---|
| 1.91% | $1k | - | 60 Month IRA (Traditional,Roth,CESA) | |
| 1.00% | $1k | - | 36 Month IRA (Traditional,Roth,CESA) | |
| 0.75% | $25k | - | 9 Month Super Jumbo IRA (Traditional,CESA,Roth) | |
| 0.65% | $5k | - | 9 Month Jumbo IRA (Traditional,Roth,CESA) | |
| 0.65% | $1k | - | 24 Month IRA (Traditional,Roth,CESA) | |
| 0.50% | $1k | - | 9 Month IRA (Traditional,Roth,CESA) | |
| 0.50% | $1k | - | 12 Month IRA (Traditional,Roth,CESA) | |
| 0.50% | $1k | - | 18 Month IRA (Traditional,Roth,CESA) | |
| 0.45% | $1k | - | 6 Month IRA (Traditional,Roth,CESA) |
| Miami Postal Service Credit Union Locations | ||
|---|---|---|
| Branch Office | 12685 S Dixie Hwy Southpark Center | Pinecrest, FL 33156-5958 |
| Branch Office | 6171 NW 183rd St | Hialeah, FL 33015-6030 |
| Branch Office | 2190 NW 72nd Ave | Miami, FL 33122-1824 |