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Overview / Commentary
909-983-1959
1520 N Palmetto Ave
Ontario, CA 91762

Ontario Montclair Schools Credit Union is headquartered in Ontario and is the 159th largest credit union in the state of California. It is also the 1,669th largest credit union in the nation. It was established in 1961 and as of March of 2014, it had grown to 17 employees and 7,118 members. Ontario Montclair Schools Credit Union has a B+ health rating.

Field of Membership Restrictions

All employees (and retirees) of the Ontario-Montclair School District and their immediate family members. - See Details

Reviews (1)

Credit Union Review

Poor experience with this credit union. Routinely, mistakes were made by this bank, both with a teller and via their online banking system. I also found the supervisors and management staff to be most unhelpful. In fact, they acted as if the issues that I was having were none existent. Example: checking balance was off on the online banking, when I went in to the branch I was directed to someone in management who told me they could not find any such inaccuracy. When I checked later, sure enough the matter was corrected, however, I found their unwillingness to admit the mistake to be very dishonest, and frankly it leaves me a little uneasy about their management abilities. This was not the only occurrence, however, I can excuse one mistake, but after several experiences in which I found the staff to be very unprofessional, I am now writing this review.



Health

Data for Q1 2014

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. Ontario Montclair Schools Credit Union has a relatively 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 Ontario Montclair Schools Credit Union had $60,000 in non-current loans and owned real-estate with $8.06 million in equity and loan loss allowances on hand to cover it. This gives Ontario Montclair Schools Credit Union a Texas Ratio of 0.74% 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 Ontario Montclair Schools Credit Union decreased dramatically from 1.97% as of March 31, 2013 to 0.74% as of March 31, 2014, resulting in a positive change of 62.20%.This indicates that the balance sheet and financial strength for Ontario Montclair Schools Credit Union has improved dramatically in recent periods.

Deposit Growth

GRADE:
C+

In the past year, Ontario Montclair Schools Credit Union has decreased its total deposits by $-12,000, resulting in -0.02% 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 Ontario Montclair Schools 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. Ontario Montclair Schools Credit Union has $86.79 million in assets with $8.06 million in equity, resulting in a capitalization level of 9.28%, which is average.

Institution Statistics

Overall
NCUA #14542
Year Chartered1961
Employees17
Primary Regulator
Assets and Liabilities
Assets$86.79 million
Loans$33.43 million
Deposits$78.37 million
Equity Capital$7.80 million
Loan Loss Allowance$260,000
Unbacked Noncurrent Loans$60,000
Real Estate Owned$0
Historic Data - March 2013
Assets$88.10 million
Equity Capital$8.23 million
Loan Loss Allowance$350,000
Unbacked Noncurrent Loans$60,000
Real Estate Owned$0
Profit Margin - Quarterly
Return on Assets0.81%
Return on Equity9.03%
Interest Income$666,000
Rates

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

Ontario Montclair Schools Credit Union Savings Account Rates

DetailsAPYMINMAXPRODUCT
0.15%$25k-Advantage Savings
0.08%$10k-Plus Savings
0.03%--Regular Savings
0.03%--Holiday Account
0.03%--IRA Share Account
0.03%--Roth IRA Share Account
0.03%--Education IRA Share Account

Ontario Montclair Schools Credit Union Money Market Rates

DetailsAPYMINMAXPRODUCT
0.05%$2,500-Money Market Checking

Ontario Montclair Schools Credit Union Checking Account Rates

DetailsAPYMINMAXPRODUCT
0.01%$1k-Checking

Ontario Montclair Schools Credit Union CD Rates

DetailsAPYMINMAXPRODUCT
1.51%$1k-5 Year Share Certificate
1.01%$1k-4 Year Share Certificate
0.80%$1k-3 Year Share Certificate
0.70%$1k-2 Year Share Certificate
0.65%$1k-18 Month Share Certificate
0.60%$1k-1 Year Share Certificate
0.30%$2,500-6 Month Share Certificate
0.10%$5k-3 Month Share Certificate

Ontario Montclair Schools Credit Union IRA Rates

DetailsAPYMINMAXPRODUCT
1.51%$500-60 Month IRA Certificate
1.01%$500-48 Month IRA Certificate
0.80%$500-36 Month IRA Certificate
0.70%$500-24 Month IRA Certificate
0.65%$500-18 Month IRA Certificate
0.60%$500-12 Month IRA Certificate
Locations


Ontario Montclair Schools Credit Union Locations
Branch Office1520 N Palmetto AveOntario, CA 91762