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Overview / Commentary
650-366-5522
510 Veterans Blvd Ste B
Redwood City, CA 94063

My Credit Union is headquartered in Redwood City and is the 234th largest credit union in the state of California. It is also the 2,728th largest credit union in the nation. It was established in 1963 and as of December of 2013, it had grown to 5 employees and 3,390 members. My Credit Union has a B health rating.

Field of Membership Restrictions

Must live, work, worship or attend school in San Mateo County. Also open to employees of several sponsor groups. - See Details

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Health

Data for Q4 2013

Institution Health

B
Additional Factors: Institutions with a small asset base or a short operating history can represent an instability risk beyond what their financial ratios indicate. My Credit Union has a low asset base.

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 My Credit Union had $90,000 in non-current loans and owned real-estate with $3.11 million in equity and loan loss allowances on hand to cover it. This gives My Credit Union a Texas Ratio of 2.89% which is excellent. Any bank with a Texas Ratio near or greater than 100% is considered at risk.

Texas Ratio Trend

GRADE:
B+

The Texas Ratio for My Credit Union decreased slightly from 3.54% as of December 31, 2012 to 2.89% as of December 31, 2013, resulting in a positive change of 18.32%.This indicates that the balance sheet and financial strength for My Credit Union has improved slightly in recent periods.

Deposit Growth

GRADE:
B+

In the past year, My Credit Union has increased its total deposits by $565,000, resulting in 1.81% 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 My Credit Union has shown is above 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. My Credit Union has $35.14 million in assets with $3.11 million in equity, resulting in a capitalization level of 8.85%, which is average.

Institution Statistics

Overall
NCUA #68446
Year Chartered1963
Employees5
Primary Regulator
Assets and Liabilities
Assets$35.14 million
Loans$17.39 million
Deposits$31.82 million
Equity Capital$2.86 million
Loan Loss Allowance$247,000
Unbacked Noncurrent Loans$90,000
Real Estate Owned$0
Historic Data - December 2012
Assets$34.47 million
Equity Capital$3.08 million
Loan Loss Allowance$283,000
Unbacked Noncurrent Loans$90,000
Real Estate Owned$0
Profit Margin - Quarterly
Net Interest Margin4.53%
Return on Assets-0.63%
Return on Equity-7.75%
Interest Income$981,000
Rates
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My Credit Union Savings Account Rates

DetailsAPYMINMAXPRODUCT
0.05%--Adventures Club Account
0.05%$15-Java Club Account
0.02%$50-Regular Share Account
0.02%--Regular IRA Share Account
0.02%--Roth IRA Share Account
0.02%--Educational IRA Share Account

My Credit Union Money Market Rates

DetailsAPYMINMAXPRODUCT
0.05%$100k$250kMoney Market Account

My Credit Union CD Rates

DetailsAPYMINMAXPRODUCT
0.40%$10k-3 Year CD
0.23%$10k-2 Year CD
0.12%$10k-1 Year CD
0.12%$95k-6 Month CD
0.10%$100-6 Month to 1 Year Adventure Club CD
0.10%$100-6 Month to 1 Year Java Club CD

My Credit Union IRA Rates

DetailsAPYMINMAXPRODUCT
0.40%$10k-3 Year IRA
0.23%$10k-2 Year IRA
0.12%$10k-1 Year IRA
0.12%$95k-6 Month IRA
Locations


My Credit Union Locations
Branch Office510 Veterans Blvd Ste BRedwood City, CA 94063
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