MinnCO Credit Union is headquartered in Cambridge and is the 18st largest credit union in the state of Minnesota. It is also the 914st largest credit union in the nation. It was established in 1935 and as of September of 2013, it had grown to 62 employees and 25,278 members. MinnCO Credit Union has a B+ health rating.
Membership in Minnco Credit Union is comprised of members of Federated Co-ops, Inc., a Minnesota corporation, as well as persons who live, work, worship, volunteer in, attend school in, businesses and other legal entities located in Isanti, Chisago, Anoka, Sherburne, Benton and Mille Lacs counties. In addition, the spouse of a member, the blood or adoptive relative of either of them and their spouses may also be members. - See Details
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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 September 30, 2013 MinnCO Credit Union had $3.47 million in non-current loans and owned real-estate with $21.34 million in equity and loan loss allowances on hand to cover it. This gives MinnCO Credit Union a Texas Ratio of 16.26% which is above average. Any bank with a Texas Ratio near or greater than 100% is considered at risk.
The Texas Ratio for MinnCO Credit Union held steady from 17.66% as of September 30, 2012 to 16.26% as of September 30, 2013, resulting in a positive change of 7.95%.This indicates that the balance sheet and financial strength for MinnCO Credit Union has held steady in recent periods.
In the past year, MinnCO Credit Union has increased its total deposits by $10.98 million, resulting in 6.54% 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 MinnCO Credit Union has shown is excellent.
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. MinnCO Credit Union has $199.96 million in assets with $21.34 million in equity, resulting in a capitalization level of 10.67%, which is above average.
|Assets and Liabilities|
|Equity Capital||$19.21 million|
|Loan Loss Allowance||$2.13 million|
|Unbacked Noncurrent Loans||$2.13 million|
|Real Estate Owned||$1.34 million|
|Historic Data - September 2012|
|Equity Capital||$17.89 million|
|Loan Loss Allowance||$1.85 million|
|Unbacked Noncurrent Loans||$2.13 million|
|Real Estate Owned||$2.09 million|
|Profit Margin - Quarterly|
|Net Interest Margin||3.67%|
|Return on Assets||0.73%|
|Return on Equity||7.59%|
|Interest Income||$5.14 million|
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|0.40%||-||-||IRA Share Savings|
|0.40%||-||-||Roth IRA Share Savings|
|0.15%||$100k||-||Business Plus Checking|
|1.10%||$500||-||60 Month Share Certificate|
|1.00%||$500||-||48 Month Share Certificate|
|0.70%||$500||-||36 Month Share Certificate|
|0.60%||$500||-||30 Month Share Certificate|
|0.50%||$500||-||24 Month Share Certificate|
|0.35%||$1k||-||18 Month Share Certificate|
|0.25%||$1,500||-||12 Month Share Certificate|
|0.18%||$5k||-||6 Month Share Certificate|
|0.10%||$10k||-||3 Month Share Certificate|
|1.10%||$500||-||60 Month IRA Certificate|
|1.10%||$500||-||60 Month Roth IRA Certificate|
|1.00%||$500||-||48 Month IRA Certificate|
|1.00%||$500||-||48 Month Roth IRA Certificate|
|0.70%||$500||-||36 Month IRA Certificate|
|0.70%||$500||-||36 Month Roth IRA Certificate|
|0.50%||$500||-||24 Month IRA Certificate|
|0.50%||$500||-||24 Month Roth IRA Certificate|
|0.25%||$1,500||-||12 Month IRA Certificate|
|0.25%||$1,500||-||12 Month Roth IRA Certificate|
|MinnCO Credit Union Locations|
|Branch Office||235 1st Ave W||Cambridge, MN 55008|
|Branch Office||100 Opportunity Blvd N||Cambridge, MN 55008|
|Branch Office||2121 Station Pkwy NW||Andover, MN 55304|
|Branch Office||236 2nd Ave SW||Cambridge, MN 55008|
|Branch Office||38807 9th Ave||North Branch, MN 55056|
|Branch Office||311 Credit Union Dr||Isanti, MN 55040|