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Midwest Carpenters & Millwrights Credit Union

Overview / Commentary
800-543-5785
680 N Union St
Hobart, IN 46342-2589

Midwest Carpenters & Millwrights Credit Union is headquartered in Hobart and is the 37th largest credit union in the state of Indiana. It is also the 1,594th largest credit union in the nation. It was established in 1960 and as of March of 2014, it had grown to 10 employees and 19,457 members. Midwest Carpenters & Millwrights Credit Union's savings rates are 4X the national average, and it has a C+ health rating.

Field of Membership Restrictions

Must be a member, pensioner or employee of the Indiana Regional Council of Carpenters & Millwrights. - See Details

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Health

Data for Q1 2014

Institution Health

C+
Additional Factors: Institutions with a small asset base or a short operating history can represent an instability risk beyond what their financial ratios indicate. Midwest Carpenters & Millwrights Credit Union has a relatively low asset base.

Texas Ratio

GRADE:
B

The Texas Ratio is an indicator of how much capital a bank has available compared to the total value of loans considered at risk. As of March 31, 2014 Midwest Carpenters & Millwrights Credit Union had $1.59 million in non-current loans and owned real-estate with $8 million in equity and loan loss allowances on hand to cover it. This gives Midwest Carpenters & Millwrights Credit Union a Texas Ratio of 19.89% which is above average. Any bank with a Texas Ratio near or greater than 100% is considered at risk.

Texas Ratio Trend

GRADE:
C+

The Texas Ratio for Midwest Carpenters & Millwrights Credit Union experienced no significant changes from 14.95% as of March 31, 2013 to 19.89% as of March 31, 2014, resulting in a negative change of 33.10%. This indicates that the balance sheet and financial strength for Midwest Carpenters & Millwrights Credit Union has had no significant changes in recent periods.

Deposit Growth

GRADE:
A

In the past year, Midwest Carpenters & Millwrights Credit Union has increased its total deposits by $2.88 million, resulting in 3.51% 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 Carpenters & Millwrights Credit Union has shown is excellent.

Capitalization

GRADE:
C

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 Carpenters & Millwrights Credit Union has $92.88 million in assets with $8 million in equity, resulting in a capitalization level of 8.61%, which is average.

Institution Statistics

Overall
NCUA #13959
Year Chartered1960
Employees10
Primary Regulator
Assets and Liabilities
Assets$92.88 million
Loans$49.24 million
Deposits$84.77 million
Equity Capital$7.39 million
Loan Loss Allowance$609,000
Unbacked Noncurrent Loans$1.32 million
Real Estate Owned$271,000
Historic Data - March 2013
Assets$89.56 million
Equity Capital$7.05 million
Loan Loss Allowance$630,000
Unbacked Noncurrent Loans$1.32 million
Real Estate Owned$344,000
Profit Margin - Quarterly
Net Interest Margin1.14%
Return on Assets0.31%
Return on Equity3.95%
Interest Income$733,000
Rates

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Midwest Carpenters & Millwrights Credit Union Savings Account Rates

DetailsAPYMINMAXPRODUCT
1.90%--CESA Share
1.00%--IRA Share
1.00%--Roth IRA Share
0.35%$2k-Savings Account

Midwest Carpenters & Millwrights Credit Union Money Market Rates

DetailsAPYMINMAXPRODUCT
0.65%$2,500-Money Market (Savings) Account

Midwest Carpenters & Millwrights Credit Union Checking Account Rates

DetailsAPYMINMAXPRODUCT
0.40%$2,500-Checking (Transaction) Account

Midwest Carpenters & Millwrights Credit Union CD Rates

DetailsAPYMINMAXPRODUCT
1.52%$1k-48 Month CD
1.11%$1k-24 Month CD
0.96%$1k-12 Month CD
0.75%$5k-6 Month CD

Midwest Carpenters & Millwrights Credit Union IRA Rates

DetailsAPYMINMAXPRODUCT
2.00%$5k-5.0 Year IRA
1.50%$5k-2.5 Year IRA
1.15%$5k-12 Month IRA
Locations


Midwest Carpenters & Millwrights Credit Union Locations
Branch Office680 N Union StHobart, IN 46342-2589