Mountain Credit Union is headquartered in Waynesville and is the 16st largest credit union in the state of North Carolina. It is also the 1,107th largest credit union in the nation. It was established in 1963 and as of June of 2013, it had grown to 52 employees and 19,936 members. Mountain Credit Union's savings rates are 2X the national average, and it boasts a A+ health rating.
Anyone who lives, works, worships or attends school in Buncombe, Cherokee, Clay, Graham, Haywood, Henderson, Jackson, Macon, Madison and Swain Counties of North Carolina is eligible to join Mountain Credit Union. Also qualified for membership are all federal employees located in the 20 western counties of North Carolina (Avery, Buncombe, Burke, Cherokee, Caldwell, Clay, Cleveland, Graham, Haywood, Henderson, Jackson, McDowell, Macon, Madison, Mitchell, Polk, Rutherford, Swain, Transylvania, and Yancey). This includes field personnel who are paid from a headquarters office located in the above counties. Additionally, anyone who works or lives on the Cherokee Indian Reservation, and family members of anyone eligible for membership also qualify Mountain Credit Union membership. - See Details
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 June 30, 2013 Mountain Credit Union had $858,000 in non-current loans and owned real-estate with $16.12 million in equity and loan loss allowances on hand to cover it. This gives Mountain Credit Union a Texas Ratio of 5.32% which is excellent. Any bank with a Texas Ratio near or greater than 100% is considered at risk.
The Texas Ratio for Mountain Credit Union decreased dramatically from 9.95% as of June 30, 2012 to 5.32% as of June 30, 2013, resulting in a positive change of 46.52%.This indicates that the balance sheet and financial strength for Mountain Credit Union has improved dramatically in recent periods.
In the past year, Mountain Credit Union has increased its total deposits by $9.54 million, resulting in 7.51% 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 Mountain 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. Mountain Credit Union has $154.04 million in assets with $16.12 million in equity, resulting in a capitalization level of 10.46%, which is above average.
|Assets and Liabilities|
|Equity Capital||$15.59 million|
|Loan Loss Allowance||$528,000|
|Unbacked Noncurrent Loans||$683,000|
|Real Estate Owned||$175,000|
|Historic Data - June 2012|
|Equity Capital||$14.37 million|
|Loan Loss Allowance||$604,000|
|Unbacked Noncurrent Loans||$683,000|
|Real Estate Owned||$270,000|
|Profit Margin - Quarterly|
|Net Interest Margin||2.7%|
|Return on Assets||0.55%|
|Return on Equity||5.48%|
|Interest Income||$2.73 million|
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|1.15%||-||-||Traditional IRA Account|
|1.15%||-||-||Roth IRA Account|
|1.15%||-||-||Education IRA Account|
|1.15%||-||-||Health Savings Account|
|0.40%||$25k||-||Money Maket Account|
|0.50%||$2,500||-||12 Month CD|
|0.45%||$2,500||-||6 Month CD|
|Mountain Credit Union Locations|
|Branch Office||38 Maple St||Waynesville, NC 28786-5764|
|Branch Office||219 Haywood St||Asheville, NC 28801-2618|
|Branch Office||721 N Main St||Waynesville, NC 28786-3821|
|Branch Office||375 Sequoyah Trail||Cherokee, NC 28719|
|Branch Office||5010 Hendersonville Rd||Fletcher, NC 28732-6606|
|Branch Office||746 E Main St||Franklin, NC 28734-2674|
|Branch Office||1453 Sand Hill Rd||Candler, NC 28715|
|Branch Office||30 Highway 107||Sylva, NC 28779|