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Overview / Commentary
979-647-4952
P.O. Box 527
Old Ocean, TX 77463

Old Ocean Credit Union is headquartered in Old Ocean and is the 231st largest credit union in the state of Texas. It is also the 3,065th largest credit union in the nation. It was established in 1949 and as of December of 2013, it had grown to 11 employees and 3,218 members. Old Ocean Credit Union has a B+ health rating.

Field of Membership Restrictions

Must live, work or worship in Brazoria County. - 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. Old Ocean 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 Old Ocean Credit Union had $43,000 in non-current loans and owned real-estate with $2.46 million in equity and loan loss allowances on hand to cover it. This gives Old Ocean Credit Union a Texas Ratio of 1.75% which is excellent. Any bank with a Texas Ratio near or greater than 100% is considered at risk.

Texas Ratio Trend

GRADE:
A+

The Texas Ratio for Old Ocean Credit Union decreased dramatically from 4.61% as of December 31, 2012 to 1.75% as of December 31, 2013, resulting in a positive change of 62.06%.This indicates that the balance sheet and financial strength for Old Ocean Credit Union has improved dramatically in recent periods.

Deposit Growth

GRADE:
B+

In the past year, Old Ocean Credit Union has increased its total deposits by $645,000, resulting in 2.71% 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 Old Ocean 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. Old Ocean Credit Union has $27.27 million in assets with $2.46 million in equity, resulting in a capitalization level of 9.01%, which is average.

Institution Statistics

Overall
NCUA #6175
Year Chartered1949
Employees11
Primary Regulator
Assets and Liabilities
Assets$27.27 million
Loans$13.00 million
Deposits$24.48 million
Equity Capital$2.39 million
Loan Loss Allowance$64,000
Unbacked Noncurrent Loans$43,000
Real Estate Owned$0
Historic Data - December 2012
Assets$26.19 million
Equity Capital$2.20 million
Loan Loss Allowance$82,000
Unbacked Noncurrent Loans$43,000
Real Estate Owned$0
Profit Margin - Quarterly
Net Interest Margin6.9%
Return on Assets0.73%
Return on Equity8.31%
Interest Income$1.05 million
Rates
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Old Ocean Credit Union Savings Account Rates

DetailsAPYMINMAXPRODUCT
0.25%$25-Share Savings Account

Old Ocean Credit Union Checking Account Rates

DetailsAPYMINMAXPRODUCT
0.10%$100-Regular Share Draft Account
0.10%$50-Rising Star Share Draft Account
0.10%$50-Silver Star Share Draft Account

Old Ocean Credit Union CD Rates

DetailsAPYMINMAXPRODUCT
0.45%$1k-36 Month CD
0.40%$1k-24 Month CD
0.35%$1k-6 Month CD
0.35%$1k-12 Month CD
0.35%$1k-13 Month CD
0.30%$1k-3 Month CD

Old Ocean Credit Union IRA Rates

DetailsAPYMINMAXPRODUCT
0.35%$1k-12 Month IRA
Locations


Old Ocean Credit Union Locations
Branch OfficePO Box 527Old Ocean, TX 77463