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Minot Area Schools Credit Union

Minot Area Schools Credit Union
Overview / Commentary
215 2nd St SE
Minot, ND 58701

Minot Area Schools Credit Union is headquartered in Minot and is the 31st largest credit union in the state of North Dakota. It is also the 4,387th largest credit union in the nation. It was established in 1953 and as of March of 2014, it had grown to 2 employees and 1,428 members. Minot Area Schools Credit Union has a C+ health rating.

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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. Minot Area Schools 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 Minot Area Schools Credit Union had $0 in non-current loans and owned real-estate with $769,000 in equity and loan loss allowances on hand to cover it. This gives Minot Area Schools Credit Union a Texas Ratio of 0.00% which is excellent. Any bank with a Texas Ratio near or greater than 100% is considered at risk.

Deposit Growth

GRADE:
D

In the past year, Minot Area Schools Credit Union has decreased its total deposits by $-982,000, resulting in -8.87% 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 Minot Area Schools 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. Minot Area Schools Credit Union has $10.88 million in assets with $769,000 in equity, resulting in a capitalization level of 7.07%, which is below average.

Institution Statistics

Overall
NCUA #8943
Year Chartered1953
Employees2
Primary Regulator
Assets and Liabilities
Assets$10.88 million
Loans$4.90 million
Deposits$10.09 million
Equity Capital$744,000
Loan Loss Allowance$25,000
Real Estate Owned$0
Historic Data - March 2013
Assets$11.86 million
Equity Capital$747,000
Loan Loss Allowance$25,000
Real Estate Owned$0
Profit Margin - Quarterly
Net Interest Margin0.69%
Return on Assets-0.15%
Return on Equity-2.15%
Interest Income$39,000
Rates

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Locations


Minot Area Schools Credit Union Locations
Branch Office215 2nd St SEMinot, ND 58701