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Overview / Commentary
626-440-7000
100 W. Walnut Street
Pasadena, CA 91124

Parsons Credit Union is headquartered in Pasadena and is the 102nd largest credit union in the state of California. It is also the 830th largest credit union in the nation. It was established in 1975 and as of December of 2013, it had grown to 21 employees and 7,035 members. Parsons Credit Union has a B+ health rating.

Field of Membership Restrictions

Must work at Parsons Corporation, it's wholly owned subsidiary or several related companies. - See Details

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Health

Data for Q4 2013

Institution Health

B+

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 Parsons Credit Union had $26,000 in non-current loans and owned real-estate with $23.82 million in equity and loan loss allowances on hand to cover it. This gives Parsons Credit Union a Texas Ratio of 0.11% 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 Parsons Credit Union decreased dramatically from 0.32% as of December 31, 2012 to 0.11% as of December 31, 2013, resulting in a positive change of 65.53%.This indicates that the balance sheet and financial strength for Parsons Credit Union has improved dramatically in recent periods.

Deposit Growth

GRADE:
D

In the past year, Parsons Credit Union has decreased its total deposits by -$17.43 million, resulting in -7.84% 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 Parsons Credit Union has shown is below average.

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. Parsons Credit Union has $229.91 million in assets with $23.82 million in equity, resulting in a capitalization level of 10.36%, which is above average.

Institution Statistics

Overall
NCUA #22141
Year Chartered1975
Employees21
Primary Regulator
Assets and Liabilities
Assets$229.91 million
Loans$47.38 million
Deposits$204.96 million
Equity Capital$23.61 million
Loan Loss Allowance$214,000
Unbacked Noncurrent Loans$26,000
Real Estate Owned$0
Historic Data - December 2012
Assets$247.95 million
Equity Capital$25.18 million
Loan Loss Allowance$716,000
Unbacked Noncurrent Loans$26,000
Real Estate Owned$0
Profit Margin - Quarterly
Net Interest Margin4.12%
Return on Assets0.91%
Return on Equity8.85%
Interest Income$5.27 million
Rates
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Parsons Credit Union Savings Account Rates

DetailsAPYMINMAXPRODUCT
0.31%--IRA Account
0.31%--Roth IRA Account
0.16%--Holiday Club Account
0.15%$10k-Primary Savings

Parsons Credit Union Checking Account Rates

DetailsAPYMINMAXPRODUCT
0.08%--Checking Accounts

Parsons Credit Union CD Rates

DetailsAPYMINMAXPRODUCT
2.25%$10k-5 Year Fixed-Term Annuity Share Certificate
2.25%$10k-10 Year Fixed-Term Annuity Share Certificate
2.25%$10k-15 Year Fixed-Term Annuity Share Certificate
2.25%$10k-20 Year Fixed-Term Annuity Share Certificate
0.90%$5k-5 Year CD Variable
0.90%$5k-5 Year CD Fixed
0.60%$2k-3 Year CD Variable
0.60%$2k-3 Year CD Fixed
0.45%$1k-2 Year CD Variable
0.45%$1k-2 Year CD Fixed
0.25%$500-1 Year CD Variable
0.25%$500-1 Year CD Fixed
0.20%$500-6 Month CD Fixed
0.15%$100-3 Months CD Fixed

Parsons Credit Union IRA Rates

DetailsAPYMINMAXPRODUCT
0.90%$5k-5 Year Fixed IRA (Traditional,Roth)
0.60%$2k-3 Year Fixed IRA (Traditional,Roth)
0.45%$1k-2 Year Fixed IRA (Traditional,Roth)
0.40%$2k-18 Month Fixed IRA (Traditional,Roth)
0.25%$500-1 Year Fixed IRA (Traditional,Roth)
0.20%$500-6 Month Fixed IRA (Traditional,Roth)
0.15%$100-3 Months Fixed IRA (Traditional,Roth)
Locations


Parsons Credit Union Locations
Branch Office6330 West Loop SBellaire, TX 77401-2928
Branch Office75 N Fair Oaks AvePasadena, CA 91103-3651