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Northern Valley Federal Credit Union

Based on 1 review
Overview / Commentary
180-901-2628
3030 Demers Ave
Grand Forks, ND 58201

Northern Valley Federal Credit Union is headquartered in GRAND FORKS and is the 30th largest credit union in the state of North Dakota. It is also the 4,087th largest credit union in the nation. It was established in 1936 and as of December of 2013, it had grown to 3 employees and 1,431 members. Northern Valley Federal Credit Union has a B+ health rating.

Field of Membership Restrictions

We are currently serving residents who live, work, worship, attend school, businesses and other legal entities located in Grand Forks County, ND and Polk County, MN. - See Details

Reviews (1)

Best Credit Union

I like belonging to BN credit union. I'm not a number, they know me by my name when I walk into the credit union. I like that.



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. Northern Valley Federal 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 Northern Valley Federal Credit Union had $15,000 in non-current loans and owned real-estate with $1.4 million in equity and loan loss allowances on hand to cover it. This gives Northern Valley Federal Credit Union a Texas Ratio of 1.07% which is excellent. Any bank with a Texas Ratio near or greater than 100% is considered at risk.

Deposit Growth

GRADE:
A+

In the past year, Northern Valley Federal Credit Union has increased its total deposits by $864,000, resulting in 7.91% 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 Valley Federal Credit Union has shown is excellent.

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. Northern Valley Federal Credit Union has $13.23 million in assets with $1.4 million in equity, resulting in a capitalization level of 10.57%, which is above average.

Institution Statistics

Overall
NCUA #1344
Year Chartered1936
Employees3
Primary Regulator
Assets and Liabilities
Assets$13.23 million
Loans$5.95 million
Deposits$11.79 million
Equity Capital$1.38 million
Loan Loss Allowance$16,000
Unbacked Noncurrent Loans$15,000
Real Estate Owned$0
Historic Data - December 2012
Assets$12.34 million
Equity Capital$1.35 million
Loan Loss Allowance$13,000
Real Estate Owned$0
Profit Margin - Quarterly
Net Interest Margin4.89%
Return on Assets0.2%
Return on Equity1.88%
Interest Income$334,000
Rates
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Northern Valley Federal Credit Union Savings Account Rates

DetailsAPYMINMAXPRODUCT
0.05%$100-Share Savings Account

Northern Valley Federal Credit Union Checking Account Rates

DetailsAPYMINMAXPRODUCT
0.00%$100-Share Draft Checking Account

Northern Valley Federal Credit Union CD Rates

DetailsAPYMINMAXPRODUCT
0.50%$1k-24 Month CD
0.45%$1k-18 Month CD
0.35%$1k-12 Month CD
0.15%$1k-6 Month CD
Locations


Northern Valley Federal Credit Union Locations
Branch Office3030 Demers AveGrand Forks, ND 58201