1 star ratingAverage User Rating:
1 star rating based on 1 review.

Power Financial Credit Union

Power Financial Credit Union Locations
12171 Moody Drive
Homestead, FL 33032
800.548.5465
www.powerfi.org

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 387th largest credit union in the nation. It was established in 1951 and as of September of 2011, it had grown to 124 employees and 43,186 members. Power Financial Credit Union's savings rates are 96% higher than the national average, and it has a 4-star health rating.

Related Posts

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...



Report an Issue
See Rates for: Checking | Savings | Money Market | CD | IRA

Power Financial Credit Union Checking Account Rates

ApyMinMaxProduct
1.01%-$25kCash 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
0.50%$100k-Relationship Money Market
0.50%$2,500-Optimizer Investor Money Market
0.35%$100k-MarketSure Money Market

Power Financial Credit Union CD Rates

ApyMinMaxProduct
1.00%$500-60 Month CD
0.90%$500-48 Month CD
0.80%$500-36 Month CD
0.70%$500-24 Month CD
0.55%$500-18 Month CD
0.45%$500-15 Month CD
0.40%$500-12 Month CD
0.40%$500-12 Month Variable CD
0.35%$500-9 Month CD
0.30%$500-6 Month CD
0.20%$500-3 Month CD

Power Financial Credit Union IRA Rates

ApyMinMaxProduct
1.00%$500-60 Month IRA
1.00%$500-60 Month Roth IRA
1.00%$500-60 Month CESA
0.90%$500-48 Month IRA
0.90%$500-48 Month Roth IRA
0.90%$500-48 Month CESA
0.80%$500-36 Month IRA
0.80%$500-36 Month Roth IRA
0.80%$500-36 Month CESA
0.70%$500-24 Month IRA
0.70%$500-24 Month Roth IRA
0.70%$500-24 Month CESA
0.55%$500-18 Month IRA
0.55%$500-18 Month Roth IRA
0.55%$500-18 Month CESA
0.45%$500-15 Month IRA
0.45%$500-15 Month Roth IRA
0.45%$500-15 Month CESA
0.40%$500-12 Month IRA
0.40%$500-12 Month Variable IRA
0.40%$500-12 Month Roth IRA
0.40%$500-12 Month Variable Roth IRA
0.40%$500-12 Month CESA
0.40%$500-12 Month Variable CESA

Rates updated: 2/11/2012

Data for Q3 2011


Institution Statistics


POWER FINANCIAL
NCUA #68445
BankRate ReportView
Year Established1951
Employees124
Primary Regulator

Assets and Liabilities

Assets$505.58 million
Loans$312.57 million
Deposits$406.99 million
Equity Capital$53.58 million
Loan Loss Allowance$3.96 million
Unbacked Noncurrent Loans$5.21 million
Real Estate Owned$642,000

Historic Data - September 2010

Assets$486.83 million
Equity Capital$54.30 million
Loan Loss Allowance$4.57 million
Unbacked Noncurrent Loans$6.05 million
Real Estate Owned$210,000

Profit Margin - Quarterly

Net Interest Margin3.71%
Return on Assets-0.08%
Return on Equity-0.77%
Interest Income$13.15 million
Non-Interest Income$4.52 million

Institution Health


Overall Score:
4 out of 5
4
Texas Ratio4
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 September 30, 2011 Power Financial Credit Union had $5.85 million in non-current loans and owned real-estate with $57.54 million in equity and loan loss allowances on hand to cover it. This gives Power Financial Credit Union a Texas Ratio of 10.17% which is above average. Any bank with a Texas Ratio near or greater than 100% is considered at risk.
Texas Ratio Trend3
The Texas Ratio for Power Financial Credit Union held steady from 10.63% as of September 30, 2010 to 10.17% as of September 30, 2011, resulting in a positive change of 4.33%.This indicates that the balance sheet and financial strength for Power Financial Credit Union has held steady in recent periods.
Deposit Growth4
In the past year, Power Financial Credit Union has increased its total deposits by $8.87 million, resulting in 2.23% 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 $505.58 million in assets with $57.54 million in equity, resulting in a capitalization level of 11.38%, which is above average.
Write Review

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.

2
 
Featured Savings Account
Nationwide Savings Accounts