Parkside Credit Union is headquartered in LIVONIA and is the 119st largest credit union in the state of Michigan. It is also the 1,773rd largest credit union in the nation. It was established in 1953 and as of December of 2013, it had grown to 23 employees and 13,838 members. Parkside Credit Union's savings rates are 92% higher than the national average, and it has a A health rating.
Must live, work, worship or attend school in Allen Park, Belleville, Canton, Dearborn, Dearborn Heights, Ecorse, Farmington/Farmington Hills, Flat Rock, Franklin/Beverly Hills, Garden City, Inkster, Lincoln Park, Livonia, Melvindale, Milan/Moorville, New Boston, New Hudson, Northville, Novi, Plymouth, Redford, River Rouge, Riverview, Romulus, Saline, South Lyon, Southfield, Southgate, Taylor, Wayne, Westland, Willis or Wixom. - See Details
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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 Parkside Credit Union had $451,000 in non-current loans and owned real-estate with $11.59 million in equity and loan loss allowances on hand to cover it. This gives Parkside Credit Union a Texas Ratio of 3.89% which is excellent. Any bank with a Texas Ratio near or greater than 100% is considered at risk.
The Texas Ratio for Parkside Credit Union experienced no significant changes from 2.81% as of December 31, 2012 to 3.89% as of December 31, 2013, resulting in a negative change of 38.57%. This indicates that the balance sheet and financial strength for Parkside Credit Union has had no significant changes in recent periods.
In the past year, Parkside Credit Union has increased its total deposits by $2.24 million, resulting in 3.57% 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 Parkside Credit Union has shown is excellent.
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. Parkside Credit Union has $76.78 million in assets with $11.59 million in equity, resulting in a capitalization level of 15.10%, which is excellent.
|Assets and Liabilities|
|Equity Capital||$11.12 million|
|Loan Loss Allowance||$471,000|
|Unbacked Noncurrent Loans||$451,000|
|Real Estate Owned||$0|
|Historic Data - December 2012|
|Equity Capital||$10.65 million|
|Loan Loss Allowance||$646,000|
|Unbacked Noncurrent Loans||$451,000|
|Real Estate Owned||$105,000|
|Profit Margin - Quarterly|
|Net Interest Margin||6.42%|
|Return on Assets||1.13%|
|Return on Equity||7.78%|
|Interest Income||$2.52 million|
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|1.00%||-||-||IRA Share Account|
|0.20%||$300||-||Lay-a-way Savings Account|
|0.10%||-||-||Regular Savings Account|
|0.30%||$100k||-||Money Market Account|
|1.26%||$500||-||5 Year Share Certificate|
|1.00%||$500||-||4 Year Share Certificate|
|0.75%||$500||-||3 Year Share Certificate|
|0.65%||$500||-||30 Month Share Certificate|
|0.55%||$500||-||2 Year Share Certificate|
|0.50%||$500||-||18 Month Share Certificate|
|0.45%||$500||-||1 Year Share Certificate|
|0.35%||$500||-||9 Month Share Certificate|
|0.25%||$500||-||182 Day Share Certificate|
|0.20%||$500||-||91 Day Share Certificate|
|1.26%||$500||-||5 Year IRA Certificate|
|1.00%||$500||-||4 Year IRA Certificate|
|0.75%||$500||-||3 Year IRA Certificate|
|0.65%||$500||-||30 Month IRA Certificate|
|0.55%||$500||-||2 Year IRA Certificate|
|0.50%||$500||-||18 Month IRA Certificate|
|0.45%||$500||-||1 Year IRA Certificate|
|0.35%||$500||-||9 Month IRA Certificate|
|0.25%||$500||-||182 Day IRA Certificate|
|0.20%||$500||-||91 Day IRA Certificate|
|Parkside Credit Union Locations|
|Branch Office||36525 PLYMOUTH RD||LIVONIA, MI 48150|
|Branch Office||1747 S NEWBURGH RD||WESTLAND, MI 48186|