Pioneer Muslim Credit Union
Pioneer Muslim Credit Union is headquartered in Sugar Land and is the 129th largest credit union in the state of Texas. It is also the 1,708th largest credit union in the nation. It was established in 1981 and as of December of 2013, it had grown to 21 employees and 6,812 members. Pioneer Muslim Credit Union's savings rates are 7X the national average, and it boasts a A+ health rating.
Field of Membership Restrictions
Must be a person representing Shia Imami Ismaili Muslim or belong to Momin Community from India, Gujarat Sidhpur district. - See Details
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Data for Q4 2013
Institution Health
Texas Ratio
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 Pioneer Muslim Credit Union had $110,000 in non-current loans and owned real-estate with $16.32 million in equity and loan loss allowances on hand to cover it. This gives Pioneer Muslim Credit Union a Texas Ratio of 0.67% which is excellent. Any bank with a Texas Ratio near or greater than 100% is considered at risk.
Texas Ratio Trend
The Texas Ratio for Pioneer Muslim Credit Union decreased dramatically from 3.19% as of December 31, 2012 to 0.67% as of December 31, 2013, resulting in a positive change of 78.86%.This indicates that the balance sheet and financial strength for Pioneer Muslim Credit Union has improved dramatically in recent periods.
Deposit Growth
In the past year, Pioneer Muslim Credit Union has increased its total deposits by $16.73 million, resulting in 34.92% 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 Pioneer Muslim Credit Union has shown is excellent.
Capitalization
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. Pioneer Muslim Credit Union has $81.2 million in assets with $16.32 million in equity, resulting in a capitalization level of 20.10%, which is excellent.
Institution Statistics
| Overall | |
|---|---|
| NCUA # | 24818 |
| Year Chartered | 1981 |
| Employees | 21 |
| Primary Regulator |
| Assets and Liabilities | |
|---|---|
| Assets | $81.20 million |
| Loans | $52.51 million |
| Deposits | $64.63 million |
| Equity Capital | $16.14 million |
| Loan Loss Allowance | $184,000 |
| Unbacked Noncurrent Loans | $110,000 |
| Real Estate Owned | $0 |
| Historic Data - December 2012 | |
|---|---|
| Assets | $63.46 million |
| Equity Capital | $15.19 million |
| Loan Loss Allowance | $120,000 |
| Unbacked Noncurrent Loans | $110,000 |
| Real Estate Owned | $0 |
| Profit Margin - Quarterly | |
|---|---|
| Net Interest Margin | 5.41% |
| Return on Assets | 1.17% |
| Return on Equity | 5.87% |
| Interest Income | $3.88 million |
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Pioneer Muslim Credit Union Savings Account Rates
| Details | APY | MIN | MAX | PRODUCT |
|---|---|---|---|---|
| 3.55% | - | - | Pioneer Education Savings | |
| 3.03% | - | - | IRA Savings Account | |
| 3.03% | - | - | Roth IRA Savings Account | |
| 3.03% | - | - | Coverdell ESA | |
| 2.52% | $250 | - | Share Savings Account |
Pioneer Muslim Credit Union Checking Account Rates
| Details | APY | MIN | MAX | PRODUCT |
|---|---|---|---|---|
| 0.50% | $100 | - | Share Draft Account |
| Pioneer Muslim Credit Union Locations | ||
|---|---|---|
| Branch Office | 8801 Research Blvd Ste 105 | Austin, TX 78758 |
| Branch Office | 1521 Lake Pointe Pkwy | Sugar Land, TX 77478 |