Mid-Minnesota FCU

13283 Isle Drive
Baxter , MN 56401
(218) 822-2444
www.mmfcu.org
 

Related Blog Posts

2.25% 7-Month CD & 2.35% 13-Month CD at Mid-Minnesota FCU - Local Only - 10/9/2009

Mid-Minnesota FCU is offering three competitive certificate specials: 2.25% APY for 7 months, 2.35% APY for 13 months and 2.50% APY for 25 months. Minimum deposit is $2,500. These specials are listed on the credit union's front page as of 10/09/2009....


Report an Issue
See Rates for: Checking | Savings | CD | IRA

Checking Accounts

ApyMinMaxProduct
1.05%$50k-Business Dividend Checking
0.85%$50k-Simply Free Interest Checking
0.85%$50k-Money Market Checking

Savings Accounts

ApyMinMaxProduct
2.00%$5k-Health Savings Accounts
1.30%$250k-Floating IRA Savings - Education
1.30%$250k-Floating IRA Savings - Traditional
1.30%$250k-Floating IRA Savings - Roth
1.20%$250k-Money Market Savings
1.00%--Estate Savings
0.65%$5k-Super Savers
0.65%$5k-Matrimoney Accounts
0.50%--Regular Shares
0.10%--Floating IRA Savings Employee Distribution IRA

Certificates of Deposit

ApyMinMaxProduct
2.50%$100k-48 Month CD
2.20%$100k-36 Month CD
2.00%--Special 36 Month Fast Forward CD
1.85%$5k-Special 36 Month Bump CD
1.75%$100k-24 Month CD
1.65%$100k-18 Month CD
1.65%$500-Special 36 Month Add-On CD
1.55%$100k-12 Month CD
1.40%$5k-Special 24 Month Bump CD
1.20%$100k-6 Month CD
0.95%$10k-3 Month CD

IRA Accounts

ApyMinMaxProduct
2.50%$100k-48 Month IRA
2.20%$100k-36 Month IRA
1.75%$100k-24 Month IRA
1.65%$100k-18 Month IRA
1.55%$100k-12 Month IRA
1.20%$100k-6 Month IRA
0.95%$10k-3 Month IRA

Institution Statistics


NCUA #20194
BankRate ReportView
Year Established1970
Employees92
Primary Regulator

Assets and Liabilities

Assets$217.66 million
Loans$190.67 million
Deposits$197.66 million
Equity Capital$18.50 million
Loan Loss Allowance$2.57 million
Unbacked Noncurrent Loans$7.11 million
Real Estate Owned$882,000

Historic Data - March 2009

Assets$197.12 million
Equity Capital$18.12 million
Loan Loss Allowance$1.89 million
Unbacked Noncurrent Loans$5.88 million

Profit Margin - Quarterly

Net Interest Margin1.22%
Return on Assets1.86%
Return on Equity21.88%
Interest Income$3.07 million
Non-Interest Income$977,000

Institution Health


Overall Score:
3 out of 5
3
Texas Ratio4
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 March 1, 2010 Mid-Minnesota FCU had $7.99 million in non-current loans and owned real-estate with $21.06 million in equity and loan loss allowances on hand to cover it. This gives Mid-Minnesota FCU a Texas Ratio of 37.92% which is above average. Any bank with a Texas Ratio near or greater than 100% is considered at risk.
Texas Ratio Trend2
The Texas Ratio for Mid-Minnesota FCU increased slightly from 29.38% as of March 1, 2009 to 37.92% as of March 1, 2010, resulting in a negative change of 29.05%. This indicates that the balance sheet and financial strength for Mid-Minnesota FCU has declined slightly in recent periods.
Deposit Growth5
In the past year, Mid-Minnesota FCU has increased it's total deposits by $30.19 million, resulting in 18.03% 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-Minnesota FCU has shown is excellent.
Capitalization2
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-Minnesota FCU has $217.66 million in assets with $21.06 million in equity, resulting in a capitalization level of 9.68%, which is below average.
Write Review

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


 

ad