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800-848-5654
P.O. Box 85833
San Diego, CA 92186

North Island Financial Credit Union is headquartered in San Diego and is the 29th largest credit union in the state of California. It is also the 182nd largest credit union in the nation. It was established in 1940 and as of December of 2013, it had grown to 234 employees and 75,907 members. North Island Financial Credit Union has a B+ health rating.

Field of Membership Restrictions

Must live in San Diego County. Also open to active or retired military member or civil service employee. - See Details

Reviews (1)

2.43% Just Ain't Gonna Happen...

2.43% for a 5 year CD  !!!!  Sorry, it is too good to be true.

Depositaccounts.com.  Love ya, but it is totally misleading to say we will receive this interest rate.

A third of your investment may get get that, but it will be watered down by the low interest rate you get on the other 2/3s which are at substantially lower rates.  So what is your blended rate over the 5 year period?  I went to North Island Financial Credit Union yesterday and asked that question.  The associate couldn't tell me nor could his boss.  I am going to try to figure that out on an spreadsheet.

FYI, the other 2/3's must be in a 12 month (@ .4%) and 36 month CD (@1.4%).  Are you required to roll these over with North Island Financial Credit Union when they mature?  I did not get a clear answer but see below.   They said that when the 12 month certificate comes due, you are "expected" to make it a 5 year CD with this credit union. 

Here is what I want to do given what I understand:  put $249K in this account.  $83,333 at 2.43% for 5 years; $83,333 at 1.4% for 3 years and $83,333 at .4% for 12 months.  I know right now that I would not want to renew the 12 month nor the 3 year (why limit my options?).  I would then let the $83,333 get 2.43% for the full 5 years.  Can I do this?  The boss said yes, but the website says this: "If you elect not to renew any certificate within your ladder, the remaining certificates will not be eligible for the ladder rates at maturity."

North Island Federal Credit reps are contradicting the website and I am confused.  What I do know with certainty is that the consumer ain't gonna get 2.43% any way you slice it.

 



Health

Data for Q4 2013

Institution Health

B+

Texas Ratio

GRADE:
B+

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 North Island Financial Credit Union had $12.98 million in non-current loans and owned real-estate with $117.92 million in equity and loan loss allowances on hand to cover it. This gives North Island Financial Credit Union a Texas Ratio of 11.01% which is above average. Any bank with a Texas Ratio near or greater than 100% is considered at risk.

Texas Ratio Trend

GRADE:
C+

The Texas Ratio for North Island Financial Credit Union experienced no significant changes from 10.79% as of December 31, 2012 to 11.01% as of December 31, 2013, resulting in a negative change of 2.02%. This indicates that the balance sheet and financial strength for North Island Financial Credit Union has had no significant changes in recent periods.

Deposit Growth

GRADE:
B

In the past year, North Island Financial Credit Union has increased its total deposits by $2.02 million, resulting in 0.21% 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 North Island Financial Credit Union has shown is above average.

Capitalization

GRADE:
B+

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. North Island Financial Credit Union has $1.1 billion in assets with $117.92 million in equity, resulting in a capitalization level of 10.71%, which is above average.

Institution Statistics

Overall
NCUA #68452
Year Chartered1940
Employees234
Primary Regulator
Assets and Liabilities
Assets$1.10 billion
Loans$686.54 million
Deposits$983.54 million
Equity Capital$103.14 million
Loan Loss Allowance$14.77 million
Unbacked Noncurrent Loans$12.95 million
Real Estate Owned$36,000
Historic Data - December 2012
Assets$1.09 billion
Equity Capital$94.92 million
Loan Loss Allowance$16.77 million
Unbacked Noncurrent Loans$12.95 million
Real Estate Owned$210,000
Profit Margin - Quarterly
Net Interest Margin3.91%
Return on Assets1.11%
Return on Equity11.85%
Interest Income$31.31 million
Rates

Always verify rates and promotions with the bank or credit union. We are not North Island Financial Credit Union, we are a rate comparison website and can not provide official rates or promotions.

North Island Financial Credit Union Savings Account Rates

DetailsAPYMINMAXPRODUCT
0.20%$25k-HSA Savings Account
0.20%$25k-HSA Checking Account
0.15%$50k-Daily IRA Account
0.05%$100-Share Savings Account
0.05%$200-Business Savings Account

North Island Financial Credit Union Money Market Rates

DetailsAPYMINMAXPRODUCT
0.10%$25k-Premium Money Market Account (MMA)
0.10%$25k-Business Money Market Account
0.05%$2,500-Island Money Market Account (MMA)

North Island Financial Credit Union Checking Account Rates

DetailsAPYMINMAXPRODUCT
0.05%$10k-Checking Account

North Island Financial Credit Union CD Rates

DetailsAPYMINMAXPRODUCT
1.51%$100k-60 Month Jumbo Share Certificate
1.51%$100k-60 Month Business Jumbo Certificate
1.46%$10k-60 Month Mini-Jumbo Share Certificate
1.46%$10k-60 Month Business Mini-Jumbo Share Certificate
1.41%$2,500-60 Month Share Certificate
1.41%$2,500-60 Month Business Share Certificate
0.90%$100k-36 Month Jumbo Share Certificate
0.90%$100k-36 Month Business Jumbo Certificate
0.85%$10k-36 Month Business Mini-Jumbo Share Certificate
0.85%$10k-36 Month Mini-Jumbo Share Certificate
0.75%$2,500-36 Month Share Certificate
0.75%$2,500-36 Month Business Share Certificate
0.75%$25-36 Month Saver CD
0.30%$2,500-30 Month Share Certificate
0.30%$10k-30 Month Mini-Jumbo Share Certificate
0.30%$100k-30 Month Jumbo Share Certificate
0.30%$2,500-30 Month Business Share Certificate
0.30%$10k-30 Month Business Mini-Jumbo Share Certificate
0.30%$100k-30 Month Business Jumbo Share Certificate
0.10%$500-12 Month Saver CD
0.10%$2,500-12 Month Business Share Certificate
0.10%$2,500-18 Month Business Share Certificate
0.10%$2,500-24 Month Business Share Certificate
0.10%$10k-12 Month Business Mini-Jumbo Share Certificate
0.10%$10k-18 Month Business Mini-Jumbo Share Certificate
0.10%$10k-24 Month Business Mini-Jumbo Share Certificate
0.10%$100k-12 Month Business Jumbo Certificate
0.10%$100k-18 Month Business Jumbo Certificate
0.10%$100k-24 Month Business Jumbo Certificate
0.10%$2,500-12 Month Share Certificate
0.10%$2,500-18 Month Share Certificate
0.10%$2,500-24 Month Share Certificate
0.10%$10k-12 Month Mini-Jumbo Share Certificate
0.10%$10k-18 Month Mini-Jumbo Share Certificate
0.10%$10k-24 Month Mini-Jumbo Share Certificate
0.10%$100k-12 Month Jumbo Share Certificate
0.10%$100k-18 Month Jumbo Share Certificate
0.10%$100k-24 Month Jumbo Share Certificate

North Island Financial Credit Union IRA Rates

DetailsAPYMINMAXPRODUCT
1.51%$100k-60 Month IRA Certificate (Traditional,Roth)
0.90%$100k-36 Month IRA Certificate (Traditional,Roth)
0.30%$2k-30 Month IRA Certificate (Traditional,Roth)
0.10%$500-6 Month IRA Certificate (Traditional,Roth)
0.10%$2k-12 Month IRA Certificate (Traditional,Roth)
0.10%$2k-18 Month IRA Certificate (Traditional,Roth)
0.10%$2k-24 Month IRA Certificate (Traditional,Roth)
Locations

North Island Financial Credit Union has 11 locations. Click to view all North Island Financial Credit Union locations.