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1 star rating based on 1 review.

Power Financial Credit Union

Power Financial Credit Union Locations
2020 NW 150th Avenue
Pembroke Pines, FL 33028
(954) 538-4400
www.powerfi.org

NCUA

Power Financial Credit Union is headquartered in Pembroke Pines and is the 21st largest credit union in the state of Florida. It is also the 412st largest credit union in the nation. It was established in 1951 and as of December of 2012, it had grown to 120 employees and 39,701 members. Power Financial Credit Union's savings rates are 96% higher than the national average, and it boasts a 5-star health rating.

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3.01% Reward Checking at a South Florida CU (Power Financial) - 8/5/2007

Update 4/11/09: The top yield has fallen to 3.01% APY. Refer to the bottom of the post for the rate history.Power Financial Credit Union has just started a reward checking account it calls Cash Back Checking. It pays 3.01% APY on balances up to $25K...



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See Rates for: Checking | Savings | Money Market | CD | IRA

Power Financial Credit Union Checking Account Rates

ApyMinMaxProduct
0.75%-$15kCash Back Checking
0.25%$10k-Premier Checking
0.00%$20-Free Checking
0.00%$20-Cha-Ching Teen Checking
0.00%$20-Business Checking

Power Financial Credit Union Savings Account Rates

ApyMinMaxProduct
1.02%$100-Health Savings Account
0.35%$50k-CESA Savings
0.35%$50k-Roth IRA Savings
0.35%$50k-SEP IRA Savings
0.35%$50k-IRA Savings
0.25%$100k-Savings Accounts
0.25%$100k-Club Accounts

Power Financial Credit Union Money Market Rates

ApyMinMaxProduct
0.40%$2,500-Optimizer Investor Money Market
0.30%$100k-MarketSure Money Market
0.30%$100k-Relationship Money Market

Power Financial Credit Union CD Rates

ApyMinMaxProduct
0.90%$500-60 Month CD
0.75%$500-48 Month CD
0.60%$500-36 Month CD
0.55%$500-24 Month CD
0.40%$500-15 Month CD
0.40%$500-18 Month CD
0.35%$500-12 Month CD
0.35%$500-12 Month Variable CD
0.30%$500-9 Month CD
0.25%$500-6 Month CD
0.15%$500-3 Month CD

Power Financial Credit Union IRA Rates

ApyMinMaxProduct
0.90%$500-60 Month IRA
0.90%$500-60 Month Roth IRA
0.90%$500-60 Month CESA
0.75%$500-48 Month IRA
0.75%$500-48 Month Roth IRA
0.75%$500-48 Month CESA
0.60%$500-36 Month IRA
0.60%$500-36 Month Roth IRA
0.60%$500-36 Month CESA
0.55%$500-24 Month IRA
0.55%$500-24 Month Roth IRA
0.55%$500-24 Month CESA
0.40%$500-15 Month IRA
0.40%$500-18 Month IRA
0.40%$500-15 Month Roth IRA
0.40%$500-18 Month Roth IRA
0.40%$500-15 Month CESA
0.40%$500-18 Month CESA
0.35%$500-12 Month IRA
0.35%$500-12 Month Variable IRA
0.35%$500-12 Month Roth IRA
0.35%$500-12 Month Variable Roth IRA
0.35%$500-12 Month CESA
0.35%$500-12 Month Variable CESA

Rates updated: 5/20/2013

Data for Q4 2012


Institution Statistics


POWER FINANCIAL
NCUA #68445
BankRate ReportView
Year Chartered1951
Employees120
Primary Regulator

Assets and Liabilities

Assets$500.79 million
Loans$302.76 million
Deposits$401.74 million
Equity Capital$51.54 million
Loan Loss Allowance$3.01 million
Unbacked Noncurrent Loans$3.24 million
Real Estate Owned$529,000

Historic Data - December 2011

Assets$491.73 million
Equity Capital$53.59 million
Loan Loss Allowance$3.89 million
Unbacked Noncurrent Loans$5.39 million
Real Estate Owned$904,000

Profit Margin - Quarterly

Net Interest Margin4.64%
Return on Assets0.16%
Return on Equity1.59%
Interest Income$15.69 million
Non-Interest Income$5.91 million

Institution Health


Overall Score:
5 out of 5
5
Texas Ratio5
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, 2012 Power Financial Credit Union had $3.76 million in non-current loans and owned real-estate with $54.55 million in equity and loan loss allowances on hand to cover it. This gives Power Financial Credit Union a Texas Ratio of 6.90% which is excellent. Any bank with a Texas Ratio near or greater than 100% is considered at risk.
Texas Ratio Trend4
The Texas Ratio for Power Financial Credit Union decreased slightly from 10.94% as of December 31, 2011 to 6.90% as of December 31, 2012, resulting in a positive change of 36.94%.This indicates that the balance sheet and financial strength for Power Financial Credit Union has improved slightly in recent periods.
Deposit Growth4
In the past year, Power Financial Credit Union has increased its total deposits by $8.44 million, resulting in 2.14% 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 Power Financial Credit Union has shown is above average.
Capitalization4
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. Power Financial Credit Union has $500.79 million in assets with $54.55 million in equity, resulting in a capitalization level of 10.89%, which is above average.
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Poor Service.....Out Of Touch With The Real World
1 stars - jgm99 - Wednesday, December 28, 2011 - 10:53 AM

I have used then several times as a service proveder for my Massachusetts Credit Union.  We used the branch on route 1 in North palm Beach.  Each time the service got worse.  It takes more than 15 minutes to cash a check.  Each teller has different rules they operate by.  Branch management doesn't care about different standards....and defends their inconsistant practices.  I can only speak for this branch.  They are out of touch with the 21st century with their archaic check cashing procedures and documentation requirements and verification do-loops.  Lines are long for obvious reasons. Some tellers are lackadaisical and sometimes arrogant.  Branch management can be outright rude.  We will not use them again.  Customers deserve better than this branch offers.

3
 
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