Average User Rating:
1 star rating based on 1 review.

MidWest America Federal Credit Union

1104 Medical Park Drive
Fort Wayne, IN 46825
(260) 482-3334
www.mwafcu.org

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MidWest America Federal Credit Union is headquartered in Fort Wayne and is the 12^st largest credit union in the state of Indiana. It is also the 429^th largest credit union in the nation. It was established in 1936 and as of March of 2013, it had grown to 165 employees and 64,035 members. MidWest America Federal Credit Union has a 5-star health rating.

Midwest America FCU Quietly Dropped APY From 2.310% To 2.01% On 8/1 (Forum) - 8/1/2012

They might have even dropped the rate earlier, the description for last month's interest was listed as "split rate deposit". Reward Checking Daily 1.99% $0 to $15,000.00 Monthly 2.01%

Midwest America FCU Reward Checking Down To 2.11% (From 2.31%) (Forum) - 6/1/2012

At least it didn't go down too much. 2.11% APY Bonus rate on balances up to $15,000* 0.53% APY Overage rate on balances over $15,000 0.06% Base rate

Midwest America FCU Raises Reward Checking Rate To 2.51% (From 2.41%) But Cuts Cap To $15K (From $25K). (Forum) - 3/1/2011

Not a big jump, but we need more banks to raise their RCA rates! I sure miss the 7.01% that we started with.

3.05% 18-Month CD at MidWest America Federal Credit Union in IN, KY & IL - 3/9/2009

MidWest America Federal Credit Union is offering a special 21-month certificate with a rate of 3.05% APY. Minimum deposit is $500. It's available as both a share and IRA certificate. Unfortunately, you can't be a new member to qualify for this deal. The...

2008

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See Rates for: Checking | Savings | Money Market | CD | IRA

MidWest America Federal Credit Union Checking Account Rates

Apy	Min	Max	Product
1.66%	-	$15k	Reward Checking
0.34%	$75k	-	Advanced Business Checking
0.34%	-	-	Association Checking
0.26%	$5k	-	Advantage Checking

MidWest America Federal Credit Union Savings Account Rates

Apy	Min	Max	Product
0.34%	$50k	-	Liquid Gold
0.26%	$10k	-	Health Savings Account
0.26%	-	-	Traditional Rate Share IRA
0.26%	-	-	Conversion Roth IRA
0.26%	-	-	Education Roth IRA
0.26%	-	-	Contribution Roth IRA
0.10%	$200	-	Regular Shares
0.10%	$200	-	Business Share Savings
0.05%	-	-	"You Name It" Savings
0.05%	-	-	Kids Club Account

MidWest America Federal Credit Union Money Market Rates

	Apy	Min	Max	Product
	0.38%	$250k	-	Business Gold Money Market

MidWest America Federal Credit Union CD Rates

Apy	Min	Max	Product
1.15%	$10k	-	60 Month CD
1.05%	$10k	-	48 Month CD
0.80%	$10k	-	36 Month CD
0.65%	$10k	-	30 Month CD
0.55%	$10k	-	24 Month CD
0.35%	$10k	-	18 Month CD
0.25%	$10k	-	12 Month CD
0.15%	$10k	-	182 Days CD
0.10%	$500	-	91 Days CD
0.03%	$10k	-	1 Week CD
0.03%	$10k	-	4 Week CD

MidWest America Federal Credit Union IRA Rates

Apy	Min	Max	Product
1.15%	$10k	-	60 Month IRA
1.15%	$10k	-	60 Month Roth IRA
1.15%	$10k	-	60 Month CESA
1.05%	$10k	-	48 Month IRA
1.05%	$10k	-	48 Month Roth IRA
1.05%	$10k	-	48 Month CESA
0.80%	$10k	-	36 Month IRA
0.80%	$10k	-	36 Month Roth IRA
0.80%	$10k	-	36 Month CESA
0.65%	$10k	-	30 Month IRA
0.65%	$10k	-	30 Month Roth IRA
0.65%	$10k	-	30 Month CESA
0.55%	$10k	-	24 Month IRA
0.55%	$10k	-	24 Month Roth IRA
0.55%	$10k	-	24 Month CESA
0.35%	$10k	-	18 Month IRA
0.35%	$10k	-	18 Month Roth IRA
0.35%	$10k	-	18 Month CESA
0.25%	$10k	-	12 Month IRA
0.25%	$10k	-	12 Month Roth IRA
0.25%	$10k	-	12 Month CESA
0.15%	$10k	-	182 Days IRA
0.15%	$10k	-	182 Days Roth IRA
0.15%	$10k	-	182 Days CESA
0.10%	$500	-	91 Days IRA
0.10%	$500	-	91 Days Roth IRA
0.10%	$500	-	91 Days CESA
0.03%	$10k	-	1 Week IRA
0.03%	$10k	-	4 Week IRA
0.03%	$10k	-	1 Week Roth IRA
0.03%	$10k	-	4 Week Roth IRA
0.03%	$10k	-	1 Week CESA
0.03%	$10k	-	4 Week CESA

Rates updated: 6/19/2013

Data for Q1 2013

Institution Statistics

MIDWEST AMERICA
NCUA #	1427
BankRate Report	View
Year Chartered	1936
Employees	165
Primary Regulator
Assets and Liabilities
Assets	$500.69 million
Loans	$326.47 million
Deposits	$433.88 million
Equity Capital	$59.15 million
Loan Loss Allowance	$2.31 million
Unbacked Noncurrent Loans	$1.03 million
Historic Data - March 2012
Assets	$490.29 million
Equity Capital	$55.58 million
Loan Loss Allowance	$2.83 million
Unbacked Noncurrent Loans	$1.75 million
Real Estate Owned	$8,000
Profit Margin - Quarterly
Net Interest Margin	0.94%
Return on Assets	0.82%
Return on Equity	6.92%
Interest Income	$3.92 million
Non-Interest Income	$1.79 million

Institution Health

Overall Score:

5 out of 5

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 March 31, 2013 MidWest America Federal Credit Union had $1.03 million in non-current loans and owned real-estate with $61.45 million in equity and loan loss allowances on hand to cover it. This gives MidWest America Federal Credit Union a Texas Ratio of 1.68% 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 MidWest America Federal Credit Union decreased significantly from 3.01% as of March 31, 2012 to 1.68% as of March 31, 2013, resulting in a positive change of 44.23%.This indicates that the balance sheet and financial strength for MidWest America Federal Credit Union has improved significantly in recent periods.
Deposit Growth
In the past year, MidWest America Federal Credit Union has increased its total deposits by $5.42 million, resulting in 1.27% 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 MidWest America Federal Credit Union 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. MidWest America Federal Credit Union has $500.69 million in assets with $61.45 million in equity, resulting in a capitalization level of 12.27%, which is excellent.

Closed My Account And Will Never Bank With Them Again.
1 stars

- Anonymous - Thursday, July 14, 2011 - 3:31 PM

They wanted to add over $1900 to my loan balance if I didn't continue to jump through their hoops. I had to go to my local bank to get a lien to pay them off, and they still wanted to add the $1900+ to my balance ( that was zero at that time ).