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Overview / Commentary
219-763-5640
2832 WILLOWCREEK RD
PORTAGE, IN 46368

Midwest Family Credit Union is headquartered in PORTAGE and is the 82nd largest credit union in the state of Indiana. It is also the 3,129th largest credit union in the nation. It was established in 1962 and as of March of 2014, it had grown to 10 employees and 3,260 members. Midwest Family Credit Union has a C+ health rating.

Field of Membership Restrictions

Must live, work, worship, attend school or volunteer in Porter County, IN. - 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 Family Credit Union has a low asset base.

Texas Ratio

GRADE:
A+

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 Family Credit Union had $40,000 in non-current loans and owned real-estate with $2.1 million in equity and loan loss allowances on hand to cover it. This gives Midwest Family Credit Union a Texas Ratio of 1.90% which is excellent. Any bank with a Texas Ratio near or greater than 100% is considered at risk.

Texas Ratio Trend

GRADE:
A+

The Texas Ratio for Midwest Family Credit Union decreased dramatically from 3.48% as of March 31, 2013 to 1.90% as of March 31, 2014, resulting in a positive change of 45.45%.This indicates that the balance sheet and financial strength for Midwest Family Credit Union has improved dramatically in recent periods.

Deposit Growth

GRADE:
C-

In the past year, Midwest Family Credit Union has decreased its total deposits by $-938,000, resulting in -3.66% 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 Family Credit Union has shown is below average.

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 Family Credit Union has $26.81 million in assets with $2.1 million in equity, resulting in a capitalization level of 7.85%, which is below average.

Institution Statistics

Overall
NCUA #15007
Year Chartered1962
Employees10
Primary Regulator
Assets and Liabilities
Assets$26.81 million
Loans$13.61 million
Deposits$24.67 million
Equity Capital$2.05 million
Loan Loss Allowance$57,000
Unbacked Noncurrent Loans$40,000
Real Estate Owned$0
Historic Data - March 2013
Assets$27.79 million
Equity Capital$2.00 million
Loan Loss Allowance$62,000
Unbacked Noncurrent Loans$40,000
Real Estate Owned$0
Profit Margin - Quarterly
Net Interest Margin1.25%
Return on Assets0.25%
Return on Equity3.32%
Interest Income$201,000
Rates

Always verify rates and promotions with the bank or credit union. We are not Midwest Family Credit Union, we are a rate comparison website and can not provide official rates or promotions.

Midwest Family Credit Union Savings Account Rates

DetailsAPYMINMAXPRODUCT
0.05%--IRA Account
0.04%$500-Regular Shares Account
0.04%$500-Christmas Club Account
0.04%$500-Special Club Account
0.04%$500-Vacation Club Account

Midwest Family Credit Union Money Market Rates

DetailsAPYMINMAXPRODUCT
0.10%$50k-Money Market Account

Midwest Family Credit Union Checking Account Rates

DetailsAPYMINMAXPRODUCT
0.04%$2,500-Share Drafts Account

Midwest Family Credit Union CD Rates

DetailsAPYMINMAXPRODUCT
0.80%$10k-60 Month Share CD
0.65%$10k-48 - 59 Month Share CD
0.55%$10k-36 - 47 Month Share CD
0.25%$10k-24 - 35 Month Share CD
0.15%$10k-12 - 23 Month Share CD
0.10%$10k-6 - 11 Month Share CD

Midwest Family Credit Union IRA Rates

DetailsAPYMINMAXPRODUCT
0.80%$10k-60 Month IRA
0.65%$10k-48 - 59 Month IRA
0.55%$10k-36 - 47 Month IRA
0.25%$10k-24 - 35 Month IRA
0.15%$10k-12 - 23 Month IRA
0.10%$10k-6 - 11 Month IRA
Locations


Midwest Family Credit Union Locations
Branch Office2832 WILLOWCREEK RDPORTAGE, IN 46368