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Overview / Commentary
734-525-0700
36525 Plymouth Rd
Livonia, MI 48150

Parkside Credit Union is headquartered in LIVONIA and is the 111st largest credit union in the state of Michigan. It is also the 1,691st largest credit union in the nation. It was established in 1953 and as of March of 2014, it had grown to 23 employees and 13,335 members. Parkside Credit Union's savings rates are 92% higher than the national average, and it has a A health rating.

Field of Membership Restrictions

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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Health

Data for Q1 2014

Institution Health

A
Additional Factors: Institutions with a small asset base or a short operating history can represent an instability risk beyond what their financial ratios indicate. Parkside 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 Parkside Credit Union had $205,000 in non-current loans and owned real-estate with $11.79 million in equity and loan loss allowances on hand to cover it. This gives Parkside Credit Union a Texas Ratio of 1.74% 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 Parkside Credit Union decreased dramatically from 2.91% as of March 31, 2013 to 1.74% as of March 31, 2014, resulting in a positive change of 40.23%.This indicates that the balance sheet and financial strength for Parkside Credit Union has improved dramatically in recent periods.

Deposit Growth

GRADE:
A

In the past year, Parkside Credit Union has increased its total deposits by $2.52 million, resulting in 3.61% 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.

Capitalization

GRADE:
A+

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 $84.89 million in assets with $11.79 million in equity, resulting in a capitalization level of 13.89%, which is excellent.

Institution Statistics

Overall
NCUA #61985
Year Chartered1953
Employees23
Primary Regulator
Assets and Liabilities
Assets$84.89 million
Loans$30.89 million
Deposits$72.47 million
Equity Capital$11.37 million
Loan Loss Allowance$422,000
Unbacked Noncurrent Loans$205,000
Real Estate Owned$0
Historic Data - March 2013
Assets$81.71 million
Equity Capital$10.86 million
Loan Loss Allowance$619,000
Unbacked Noncurrent Loans$205,000
Real Estate Owned$105,000
Profit Margin - Quarterly
Net Interest Margin1.56%
Return on Assets0.75%
Return on Equity5.59%
Interest Income$603,000
Rates
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Parkside Credit Union Savings Account Rates

DetailsAPYMINMAXPRODUCT
1.00%--IRA Share Account
0.20%$300-Lay-a-way Savings Account
0.10%--Regular Savings Account
0.10%--Holiday Club

Parkside Credit Union Money Market Rates

DetailsAPYMINMAXPRODUCT
0.30%$100k-Money Market Account

Parkside Credit Union CD Rates

DetailsAPYMINMAXPRODUCT
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

Parkside Credit Union IRA Rates

DetailsAPYMINMAXPRODUCT
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
Locations


Parkside Credit Union Locations
Branch Office36525 PLYMOUTH RDLIVONIA, MI 48150
Branch Office1747 S NEWBURGH RDWESTLAND, MI 48186