Premier America Credit Union is headquartered in Chatsworth and is the 21st largest credit union in the state of California. It is also the 117st largest credit union in the nation. It was established in 1957 and as of March of 2014, it had grown to 206 employees and 70,863 members. Premier America Credit Union's money market rates are 36% higher than the national average, and it has a A health rating.
You are immediately eligible to join if: One of your family members is already a Premier America member, or You live, work, worship or attend school in Ventura County, the San Fernando Valley, the Santa Clarita Valley or most other areas of Los Angeles County, or You live, work, worship or attend school within 10 miles of our Westchase branch in Houston, Texas, or You are an employee or member of a participating Sponsor/Company/Select Employer Group, or You may also qualify for membership by joining the Alliance for the Advancement of Arts & Education (AAAE). When you apply for membership, be sure to select "AAAE" on the company listing. Then complete the AAAE application that will be provided during online account opening. Once you are a member of Premier America, your family members - including your mother, father, sons, daughters, in-laws, grandparents, grandchildren, are eligible to join the Credit Union, too! Even if you change jobs, move or graduate from college, you are still a member for life! - See Details
Beware. I have been using Premier bill pay for many years. Recently a check that should have been for $525 was printed for $5525. The party it was written to made me aware immediately as they received it a day early I then immediately phoned my branch to handle the matter. I knew that using bill pay the funds are pulled when the check is issued so I wanted to stop pay or do whatever needed to be done to prevent being overdrawn, as I had a large payment come out the next day. I was told by teller at my Santa Monica branch, that since it was written to an individual and not a business the funds would not be pulled unless the actual check was "negotiated", deposited or cashed. I needed to do nothing further. I trusted the voice at my branch, as he also checked with his manager when I questioned that it did not sound right from my experience. I was assured. 9 days later I find out I am overdrawn since midnight of the day following my call.
It took 3 days of calls and approximately 5 hours of my time and frustration being sent to wrong numbers being promised call backs that never came, etc and the bottom line is....I will not get my money back for 3 to 5 days! No one will fix it. "This is our standard ploicy" regardless that I did everything to prevent this, was given false information by at least 2 employees at the branch. The manager of branch finally said he would honor any paper checks that came through.... great except this account is all debit and electronic use. I believe he in fact was the ultimate source of confirmation that the teller asked when I originally phoned. In the mean time the account is missing $5525 and there is not enough in it to handle affairs. I asked" if this was all the money I had and needed to pay my mortgage, and it meant loosing my home or disqualified me from a refinance or something many people are going through what would happen? "Our policy is it takes 3 to 5 days"....was all the answer I got.
This was not even my error to begin with, and insult to injury it could have been fixed even if I had to suffer the 3 to 5 days in a timely manner. I feel they are keeping my money illegally and could cause me undue irreparable damage. I am completely dissatisfied of the total lack of integrity to correct a mistake that was not mine. If Premier had mistakenly put and extra $5000 in my account and I withdrew it what would happen if I said it will take 3 to 5 days for me to give it back?
I am without trust or any sense of security in what had been a very long relationship.
Where is the integrity?
Feeling abused in LA
There are two reasons I open account at Premier Credit Union:
1. It has a branch and an ATM machine next to my office which is very convinient to me to get cash.
2. It offers Reference Bonus (currently $50) for both old and new members. This bonus is easily surpass the balance of your savings.
Their loans interests are not as low as other credit unions (PenFed, for example). But your mileage may varies.
you can earn 5% on $500 without too much of hassle that is $25 in a year.
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 Premier America Credit Union had $16.51 million in non-current loans and owned real-estate with $172.64 million in equity and loan loss allowances on hand to cover it. This gives Premier America Credit Union a Texas Ratio of 9.56% which is excellent. Any bank with a Texas Ratio near or greater than 100% is considered at risk.
The Texas Ratio for Premier America Credit Union decreased slightly from 12.85% as of March 31, 2013 to 9.56% as of March 31, 2014, resulting in a positive change of 25.57%.This indicates that the balance sheet and financial strength for Premier America Credit Union has improved slightly in recent periods.
In the past year, Premier America Credit Union has increased its total deposits by $79.22 million, resulting in 5.89% 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 Premier America Credit Union has shown is excellent.
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. Premier America Credit Union has $1.59 billion in assets with $172.64 million in equity, resulting in a capitalization level of 10.88%, which is above average.
|Assets and Liabilities|
|Equity Capital||$145.87 million|
|Loan Loss Allowance||$26.78 million|
|Unbacked Noncurrent Loans||$14.19 million|
|Real Estate Owned||$2.32 million|
|Historic Data - March 2013|
|Equity Capital||$133.64 million|
|Loan Loss Allowance||$28.38 million|
|Unbacked Noncurrent Loans||$14.19 million|
|Real Estate Owned||$174,000|
|Profit Margin - Quarterly|
|Net Interest Margin||0.93%|
|Return on Assets||0.79%|
|Return on Equity||8.65%|
|Interest Income||$10.96 million|
Always verify rates and promotions with the bank or credit union. We are not Premier America Credit Union, we are a rate comparison website and can not provide official rates or promotions.
|0.15%||-||-||Education IRA Savings|
|0.15%||-||-||Roth IRA Savings|
|0.60%||$100k||-||Gold Star Money Market|
|0.60%||$100k||-||Business Gold Star Money Market|
|0.60%||$100k||-||Gold Star Money Market IRA Account|
|0.60%||$100k||-||Gold Star Money Market Roth IRA Account|
|0.60%||$100k||-||Gold Star Money Market CESA|
|0.45%||$50k||-||Advantage Money Market|
|0.45%||$100k||-||Money Market Savings|
|0.45%||$50k||-||Business Advantage Money Market|
|0.45%||$100k||-||Business Money Market Savings|
|0.45%||$100k||-||IRA Money Market Savings|
|0.45%||$100k||-||Roth IRA Money Market Savings|
|0.45%||$100k||-||Education IRA Money Market Savings|
|0.45%||$50k||-||Advantage Money Market IRA Account|
|0.45%||$50k||-||Advantage Money Market Roth IRA Account|
|0.45%||$50k||-||Advantage Money Market CESA|
|0.40%||$25k||-||Index Plus Money Market|
|0.40%||$25k||-||Business Index Plus Money Market|
|0.40%||$25k||-||Index Plus Money Market IRA Account|
|0.40%||$25k||-||Index Plus Money Market Roth IRA Account|
|0.40%||$25k||-||Index Plus Money Market CESA|
|0.20%||$5k||-||Platinum Business Checking|
|2.05%||$100k||-||60 Month CD|
|2.05%||$100k||-||Business 60 Month CD|
|1.80%||$100k||-||48 Month CD|
|1.80%||$100k||-||Business 48 Month CD|
|1.55%||$100k||-||36 Month CD|
|1.55%||$100k||-||Business 36 Month CD|
|1.30%||$100k||-||24 Month CD|
|1.30%||$100k||-||Business 24 Month CD|
|1.05%||$100k||-||12 Month CD|
|1.05%||$100k||-||18 Month CD|
|1.05%||$100k||-||Business 12 Month CD|
|1.05%||$100k||-||Business 18 Month CD|
|0.55%||$100k||-||6 Month CD|
|0.55%||$100k||-||Business 6 Month CD|
|0.35%||$100k||-||3 Month CD|
|0.35%||$100k||-||Business 3 Month CD|
|2.05%||$100k||-||60 Month IRA|
|1.80%||$100k||-||48 Month IRA|
|1.55%||$100k||-||36 Month IRA|
|1.30%||$100k||-||24 Month IRA|
|1.05%||$100k||-||12 Month IRA|
|1.05%||$100k||-||18 Month IRA|
|0.55%||$100k||-||6 Month IRA|
|0.35%||$100k||-||3 Month IRA|