Mutual Savings Credit Union
Mutual Savings Credit Union is headquartered in Birmingham and is the 25th largest credit union in the state of Alabama. It is also the 1,222nd largest credit union in the nation. It was established in 1936 and as of December of 2013, it had grown to 71 employees and 36,526 members. Mutual Savings Credit Union has a C- health rating.
Field of Membership Restrictions
Must live, work, worship or attend school in Shelby, Chilton, Dallas or Jefferson County, 50-mile radius of Alexander City or 30-mile radius of Calera. - See Details
Bad Service
I have not been happy with the service the credit union provides. It is difficult to get anyone on the phone, or get a straight answer to any of my questions. If I could move my loan, I would.
Data for Q4 2013
Institution Health
Texas Ratio
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 Mutual Savings Credit Union had $7.9 million in non-current loans and owned real-estate with $9.76 million in equity and loan loss allowances on hand to cover it. This gives Mutual Savings Credit Union a Texas Ratio of 80.97% which is below average. Any bank with a Texas Ratio near or greater than 100% is considered at risk.
Texas Ratio Trend
The Texas Ratio for Mutual Savings Credit Union increased slightly from 47.97% as of December 31, 2012 to 80.97% as of December 31, 2013, resulting in a negative change of 68.79%. This indicates that the balance sheet and financial strength for Mutual Savings Credit Union has declined slightly in recent periods.
Deposit Growth
In the past year, Mutual Savings Credit Union has decreased its total deposits by -$5.6 million, resulting in -4.97% 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 Mutual Savings Credit Union has shown is below average.
Capitalization
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. Mutual Savings Credit Union has $132.92 million in assets with $9.76 million in equity, resulting in a capitalization level of 7.34%, which is below average.
Institution Statistics
| Overall | |
|---|---|
| NCUA # | 60501 |
| Year Chartered | 1936 |
| Employees | 71 |
| Primary Regulator |
| Assets and Liabilities | |
|---|---|
| Assets | $132.92 million |
| Loans | $94.88 million |
| Deposits | $107.07 million |
| Equity Capital | $8.38 million |
| Loan Loss Allowance | $1.38 million |
| Unbacked Noncurrent Loans | $2.11 million |
| Real Estate Owned | $5.80 million |
| Historic Data - December 2012 | |
|---|---|
| Assets | $152.06 million |
| Equity Capital | $10.08 million |
| Loan Loss Allowance | $1.47 million |
| Unbacked Noncurrent Loans | $2.11 million |
| Real Estate Owned | $4.89 million |
| Profit Margin - Quarterly | |
|---|---|
| Net Interest Margin | 5.23% |
| Return on Assets | -0.99% |
| Return on Equity | -15.64% |
| Interest Income | $5.38 million |
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Mutual Savings Credit Union Savings Account Rates
| Details | APY | MIN | MAX | PRODUCT |
|---|---|---|---|---|
| 0.10% | $25 | - | Membership Share | |
| 0.10% | - | - | Christmas Club | |
| 0.10% | - | - | IRA Club | |
| 0.10% | - | - | Basic Club | |
| 0.10% | $25 | - | Share Savings Account | |
| 0.10% | - | - | Vacation Club | |
| 0.05% | $2,500 | - | Super Saver Club |
Mutual Savings Credit Union Money Market Rates
| Details | APY | MIN | MAX | PRODUCT |
|---|---|---|---|---|
| 0.15% | $25k | - | Select Money Market | |
| 0.15% | $5k | - | Business Money Market | |
| 0.10% | $5k | - | Better Money Market |
Mutual Savings Credit Union Checking Account Rates
| Details | APY | MIN | MAX | PRODUCT |
|---|---|---|---|---|
| 0.25% | - | $25k | Rising Rewards Checking | |
| 0.10% | $20k | - | Vision Business Checking |
Mutual Savings Credit Union CD Rates
| Details | APY | MIN | MAX | PRODUCT |
|---|---|---|---|---|
| 0.95% | - | - | 5 Year Share Certificate | |
| 0.90% | - | - | 13 Month Share Certificate Special | |
| 0.75% | - | - | 3 Year Share Certificate | |
| 0.60% | - | - | 2 Year Share Certificate | |
| 0.50% | - | - | 1 Year Share Certificate | |
| 0.20% | - | - | 6 Month Share Certificate |
Mutual Savings Credit Union IRA Rates
| Details | APY | MIN | MAX | PRODUCT |
|---|---|---|---|---|
| 0.95% | - | - | 5 Year IRA Certificate | |
| 0.90% | - | - | 13 Month IRA Certificate Special | |
| 0.75% | - | - | 3 Year IRA Certificate | |
| 0.60% | - | - | 2 Year IRA Certificate | |
| 0.50% | - | - | 1 Year IRA Certificate | |
| 0.20% | - | - | 6 Month IRA Certificate |
| Mutual Savings Credit Union Locations | ||
|---|---|---|
| Branch Office | 199 Bessemer Super Hwy | Birmingham, AL 35228-2101 |
| Branch Office | 1501 7th St S | Clanton, AL 35045-8785 |
| Branch Office | 3596 Pelham Pkwy | Pelham, AL 35124-2034 |
| Branch Office | 907 Medical Center Pkwy | Selma, AL 36701-6746 |
| Branch Office | 136 Marketplace Cir Ste D | Calera, AL 35040 |
| Branch Office | 1030 Lee St | Alexander City, AL 35010-2655 |
| Branch Office | 2040 Valleydale Rd | Hoover, AL 35244-2006 |