Mid American Credit Union
Mid American Credit Union is headquartered in Wichita and is the 8th largest credit union in the state of Kansas. It is also the 857th largest credit union in the nation. It was established in 1936 and as of December of 2013, it had grown to 71 employees and 31,074 members. Mid American Credit Union's CD rates are 11% higher than the national average, and it has a B+ health rating.
Field of Membership Restrictions
Eligible members are those who live, work or worship in one of many counties in Kansas. Members of Consumers United Program and family members of Mid American Credit Union members (spouse, parent, stepparent, grandparent, child, step-child, sibling, grandchild or former spouse) are also eligible to join. - See Details
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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 Mid American Credit Union had $2.31 million in non-current loans and owned real-estate with $21.19 million in equity and loan loss allowances on hand to cover it. This gives Mid American Credit Union a Texas Ratio of 10.89% 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 Mid American Credit Union held steady from 11.71% as of December 31, 2012 to 10.89% as of December 31, 2013, resulting in a positive change of 7.02%.This indicates that the balance sheet and financial strength for Mid American Credit Union has held steady in recent periods.
Deposit Growth
In the past year, Mid American Credit Union has increased its total deposits by $23.84 million, resulting in 15.32% 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 Mid American Credit Union 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. Mid American Credit Union has $219.6 million in assets with $21.19 million in equity, resulting in a capitalization level of 9.65%, which is above average.
Institution Statistics
| Overall | |
|---|---|
| NCUA # | 65378 |
| Year Chartered | 1936 |
| Employees | 71 |
| Primary Regulator |
| Assets and Liabilities | |
|---|---|
| Assets | $219.60 million |
| Loans | $201.61 million |
| Deposits | $179.47 million |
| Equity Capital | $20.12 million |
| Loan Loss Allowance | $1.07 million |
| Unbacked Noncurrent Loans | $1.89 million |
| Real Estate Owned | $414,000 |
| Historic Data - December 2012 | |
|---|---|
| Assets | $196.27 million |
| Equity Capital | $18.38 million |
| Loan Loss Allowance | $1.06 million |
| Unbacked Noncurrent Loans | $1.89 million |
| Real Estate Owned | $506,000 |
| Profit Margin - Quarterly | |
|---|---|
| Net Interest Margin | 3.91% |
| Return on Assets | 0.79% |
| Return on Equity | 8.66% |
| Interest Income | $9.50 million |
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Mid American Credit Union Savings Account Rates
| Details | APY | MIN | MAX | PRODUCT |
|---|---|---|---|---|
| 0.50% | - | - | Preferred Youth Savings | |
| 0.30% | $1m | - | IRA Savings | |
| 0.30% | $1m | - | Roth IRA Savings | |
| 0.30% | $1m | - | Health Savings Account | |
| 0.30% | $1m | - | CESA Savings | |
| 0.30% | $500 | - | Payroll Plus Savings | |
| 0.30% | $500 | - | Payroll Plus IRA Savings | |
| 0.30% | $500 | - | Payroll Plus Roth IRA Savings | |
| 0.15% | - | - | Christmas Club Savings | |
| 0.15% | - | - | Vacation Savings | |
| 0.03% | $100 | - | Basic Membership Savings | |
| 0.03% | - | - | Life Insurance Savings | |
| 0.03% | - | - | Vacation Fund | |
| 0.03% | - | - | Business Basic Savings |
Mid American Credit Union Money Market Rates
| Details | APY | MIN | MAX | PRODUCT |
|---|---|---|---|---|
| 0.30% | $1m | - | Money Market Account | |
| 0.30% | $1m | - | Business Money Market |
Mid American Credit Union Checking Account Rates
| Details | APY | MIN | MAX | PRODUCT |
|---|---|---|---|---|
| 0.50% | - | $1k | e-Checking - Qualifying | |
| 0.50% | - | $1k | Business e-Checking | |
| 0.15% | - | - | Preferred Youth Checking Account | |
| 0.15% | - | - | Freedom Youth Checking | |
| 0.15% | - | - | FirstStep Youth Checking Account | |
| 0.05% | $500 | - | Checking Plus |
Mid American Credit Union CD Rates
| Details | APY | MIN | MAX | PRODUCT |
|---|---|---|---|---|
| 1.50% | $1k | - | 5 Year CD | |
| 1.50% | $1k | - | 5 Year HSA | |
| 1.10% | $1k | - | 4 Year CD | |
| 1.10% | $1k | - | 4 Year HSA | |
| 1.00% | $100 | - | Pay Day Certificate | |
| 1.00% | $500 | - | 3 Year Market Index Certificate | |
| 1.00% | $500 | - | 5 Year Market Index Certificate | |
| 1.00% | $500 | - | 6 Year Market Index Certificate | |
| 0.90% | $1k | - | 3 Year CD | |
| 0.90% | $1k | - | 3 Year HSA | |
| 0.70% | $1k | - | 2 Year CD | |
| 0.70% | $1k | - | 2 Year HSA | |
| 0.60% | $1k | - | 18 Month CD | |
| 0.60% | $1k | - | 18 Month HSA | |
| 0.50% | $100 | - | 12 Month Youth Add On CD | |
| 0.50% | $1k | - | 1 Year CD | |
| 0.50% | $1k | - | 1 Year HSA | |
| 0.30% | $1k | - | 6 Month CD | |
| 0.30% | $1k | - | 6 Month HSA |
Mid American Credit Union IRA Rates
| Details | APY | MIN | MAX | PRODUCT |
|---|---|---|---|---|
| 1.50% | $1k | - | 5 Year IRA (Traditional,Roth,SEP) | |
| 1.50% | $500 | - | 5 Year CESA | |
| 1.10% | $1k | - | 4 Year IRA (Traditional,Roth,SEP) | |
| 1.10% | $500 | - | 4 Year CESA | |
| 1.00% | $100 | - | Pay Day Certificate IRA (Traditional,Roth) | |
| 0.90% | $1k | - | 3 Year IRA (Traditional,Roth,SEP) | |
| 0.90% | $500 | - | 3 Year CESA | |
| 0.70% | $1k | - | 2 Year IRA (Traditional,Roth,SEP) | |
| 0.70% | $500 | - | 2 Year CESA | |
| 0.60% | $1k | - | 18 Month IRA (Traditional,Roth,SEP) | |
| 0.60% | $500 | - | 18 Month CESA | |
| 0.50% | $1k | - | 1 Year IRA (Traditional,Roth,SEP) | |
| 0.50% | $500 | - | 1 Year CESA | |
| 0.30% | $1k | - | 6 Month IRA (Traditional,Roth,SEP) | |
| 0.30% | $500 | - | 6 Month CESA |
| Mid American Credit Union Locations | ||
|---|---|---|
| Branch Office | 8404 W Kellogg Dr | Wichita, KS 67209-1845 |
| Branch Office | 525 N Main St | Wichita, KS 67203-3703 |
| Branch Office | 114 W 5th St | Larned, KS 67550-3043 |
| Branch Office | 1610 N Summit St | Arkansas City, KS 670053917 |
| Branch Office | 2993 N Webb Rd | Wichita, KS 67226 |