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Overview / Commentary
800-822-5903
1270 Giuntoli Ln
Arcata, CA 95521

Northern Redwood Credit Union is headquartered in Arcata and is the 288th largest credit union in the state of California. It is also the 3,749th largest credit union in the nation. It was established in 1955 and as of March of 2014, it had grown to 5 employees and 1,769 members. Northern Redwood Credit Union has a C+ health rating.

Field of Membership Restrictions

Must live or work in Northern Humboldt County. Also open to Simpson employees and members of Teamster's Local # 137 anywhere in California. - See Details

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Health

Data for Q1 2014

Institution Health

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

Texas Ratio

GRADE:
A+

The Texas Ratio is an indicator of how much capital a bank has available compared to the total value of loans considered at risk. As of March 31, 2014 Northern Redwood Credit Union had $24,000 in non-current loans and owned real-estate with $1.45 million in equity and loan loss allowances on hand to cover it. This gives Northern Redwood Credit Union a Texas Ratio of 1.66% 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 Northern Redwood Credit Union experienced no significant changes from 1.61% as of March 31, 2013 to 1.66% as of March 31, 2014, resulting in a negative change of 3.08%. This indicates that the balance sheet and financial strength for Northern Redwood Credit Union has had no significant changes in recent periods.

Deposit Growth

GRADE:
C+

In the past year, Northern Redwood Credit Union has decreased its total deposits by $-98,000, resulting in -0.62% 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 Northern Redwood Credit Union has shown is 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. Northern Redwood Credit Union has $17.26 million in assets with $1.45 million in equity, resulting in a capitalization level of 8.40%, which is average.

Institution Statistics

Overall
NCUA #10362
Year Chartered1955
Employees5
Primary Regulator
Assets and Liabilities
Assets$17.26 million
Loans$8.42 million
Deposits$15.78 million
Equity Capital$1.38 million
Loan Loss Allowance$74,000
Unbacked Noncurrent Loans$7,000
Real Estate Owned$17,000
Historic Data - March 2013
Assets$17.42 million
Equity Capital$1.48 million
Loan Loss Allowance$77,000
Unbacked Noncurrent Loans$7,000
Real Estate Owned$0
Profit Margin - Quarterly
Net Interest Margin1.68%
Return on Assets0.14%
Return on Equity1.74%
Interest Income$154,000
Rates
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Northern Redwood Credit Union Savings Account Rates

DetailsAPYMINMAXPRODUCT
0.15%--IRA Share Account
0.15%$1k-Savings Account
0.15%--Roth IRA Share Account
0.15%--Educational IRA Share Account
0.10%--Christmas Club

Northern Redwood Credit Union Checking Account Rates

DetailsAPYMINMAXPRODUCT
0.01%--Share Drafts Account

Northern Redwood Credit Union CD Rates

DetailsAPYMINMAXPRODUCT
0.50%$1k-3 Year Share Certificate
0.45%$1k-2 Year Share Certificate
0.30%$1k-1 Year Share Certificate

Northern Redwood Credit Union IRA Rates

DetailsAPYMINMAXPRODUCT
0.50%$1k-3 Year IRA Certificate
0.45%$1k-2 Year IRA Certificate
0.30%$1k-1 Year IRA Certificate
Locations


Northern Redwood Credit Union Locations
Branch Office1270 Giuntoli LnArcata, CA 95521-4415