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Overview / Commentary
Not Federally Insured
831-647-1000
P.O. Box 3288
Monterey, CA 93942

Monterey Credit Union is headquartered in MONTEREY and is the 107th largest credit union in the state of California. It is also the 889th largest credit union in the nation. It was established in 1968 and as of December of 2013, it had grown to 71 employees and 19,395 members. Monterey Credit Union has a A+ health rating.

Field of Membership Restrictions

Membership is available to anyone who lives or works in the counties of Monterey, Santa Cruz, San Benito, San Luis Obispo, or Santa Clara counties. Members who move out of the area do not lose their Credit Union standing - you are a member for life! If you do move out of the area, our remote banking services will allow you to continue to bank with us and continue to receive worldclass member service!!! - See Details

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Health

Data for Q4 2013

Institution Health

A+

Texas Ratio

GRADE:
A+

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 December 31, 2013 Monterey Credit Union had $712,000 in non-current loans and owned real-estate with $29.96 million in equity and loan loss allowances on hand to cover it. This gives Monterey Credit Union a Texas Ratio of 2.38% which is excellent. Any bank with a Texas Ratio near or greater than 100% is considered at risk.

Texas Ratio Trend

GRADE:
C+

The Texas Ratio for Monterey Credit Union experienced no significant changes from 2.37% as of December 31, 2012 to 2.38% as of December 31, 2013, resulting in a negative change of 0.24%. This indicates that the balance sheet and financial strength for Monterey Credit Union has had no significant changes in recent periods.

Deposit Growth

GRADE:
B+

In the past year, Monterey Credit Union has increased its total deposits by $2.13 million, resulting in 1.23% 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 Monterey Credit Union has shown is above average.

Capitalization

GRADE:
A+

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. Monterey Credit Union has $207.88 million in assets with $29.96 million in equity, resulting in a capitalization level of 14.41%, which is excellent.

Institution Statistics

Overall
NCUA #97071
Year Chartered1968
Employees71
Primary Regulator
Assets and Liabilities
Assets$207.88 million
Loans$111.84 million
Deposits$175.02 million
Equity Capital$27.99 million
Loan Loss Allowance$1.97 million
Unbacked Noncurrent Loans$712,000
Real Estate Owned$0
Historic Data - December 2012
Assets$205.50 million
Equity Capital$28.15 million
Loan Loss Allowance$2.39 million
Unbacked Noncurrent Loans$712,000
Real Estate Owned$0
Profit Margin - Quarterly
Net Interest Margin5.97%
Return on Assets0.83%
Return on Equity6.15%
Interest Income$8.58 million
Rates

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Monterey Credit Union Savings Account Rates

DetailsAPYMINMAXPRODUCT
0.20%$250k-Platinum Savings
0.10%$10k-High Rate Savings
0.10%$50k-Christmas Club
0.05%--Market IRA
0.05%--Market Roth IRA
0.05%--Market CESA
0.01%--Share Savings

Monterey Credit Union Money Market Rates

DetailsAPYMINMAXPRODUCT
0.10%$50k-Money Market

Monterey Credit Union Checking Account Rates

DetailsAPYMINMAXPRODUCT
0.01%$250-Market Checking

Monterey Credit Union CD Rates

DetailsAPYMINMAXPRODUCT
0.35%$50k-24 Month CD
0.30%$50k-18 Month CD
0.25%$50k-12 Month CD
0.15%$1k-6 Month CD
0.10%$1k-3 Month CD
0.10%$100k-30 Day Jumbo CD
0.10%$100k-60 Day Jumbo CD

Monterey Credit Union IRA Rates

DetailsAPYMINMAXPRODUCT
0.35%$50k-24 Month IRA (Traditional,Roth,CESA)
0.30%$50k-18 Month IRA (Traditional,Roth,CESA)
0.25%$50k-12 Month IRA (Traditional,Roth,CESA)
0.15%$1k-6 Month IRA (Traditional,Roth,CESA)
0.10%$100k-30 Day Jumbo IRA (Traditional,Roth,CESA)
0.10%$100k-60 Day Jumbo IRA (Traditional,Roth,CESA)
0.10%$1k-3 Month IRA (Traditional,Roth,CESA)
Locations


Monterey Credit Union Locations
Branch Office1566 N Main StSalinas, CA 93906
Branch Office2600 Garden Rd Ste 115MONTEREY, CA 93940-5321
Branch Office501 E FRANKLIN STMONTEREY, CA 93940
Branch Office915 Playa Ave Ste BSand City, CA 93955
Branch Office161 Fountain AvePacific Grove, CA 93950
Branch Office1760 Airline Hwy Ste H2Hollister, CA 95023
Branch Office2750 41st Ave Ste FSoquel, CA 95073
Branch Office26135 Carmel Rancho Blvd Ste B5Carmel, CA 93923