Premier One Credit Union is headquartered in San Jose and is the 90th largest credit union in the state of California. It is also the 628th largest credit union in the nation. It was established in 1968 and as of December of 2013, it had grown to 54 employees and 25,376 members. Premier One Credit Union's savings rates are 6X the national average, and it boasts a A+ health rating.
Field of Membership Restrictions
Live, Work, Worship or Go to School in Santa Clara County? You're Eligible Anyone who lives, works, worships or attends school in Santa Clara County, as well as any businesses, associations or organizations in Santa Clara County are invited to enjoy the benefits PremierOne Credit Union has to offer. - See Details
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Beware National 1St
This regional credit union used to be wider in scope, so their poor service and products do not impact as many customers now.
They have an HSA savings account that used to have a pretty good rate. BUT then they dropped the rates, and capped it, with a max to receive their teaser rate to be $6250 (lower than IRS limits for annual contributions). So subsequent annual contributions will only get .005%. You can do better at dozens of other banks or credit unions.
Lastly, they really do present a "we don't care" attitude. They will probably have to do mergers to grow their business.
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 Premier One Credit Union had $909,000 in non-current loans and owned real-estate with $34.24 million in equity and loan loss allowances on hand to cover it. This gives Premier One Credit Union a Texas Ratio of 2.66% 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 Premier One Credit Union decreased dramatically from 5.97% as of December 31, 2012 to 2.66% as of December 31, 2013, resulting in a positive change of 55.55%.This indicates that the balance sheet and financial strength for Premier One Credit Union has improved dramatically in recent periods.
Deposit Growth
In the past year, Premier One Credit Union has increased its total deposits by $123.1 million, resulting in 68.79% 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 One 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. Premier One Credit Union has $333.75 million in assets with $34.24 million in equity, resulting in a capitalization level of 10.26%, which is above average.
Institution Statistics
| Overall | |
|---|---|
| NCUA # | 68540 |
| Year Chartered | 1968 |
| Employees | 54 |
| Primary Regulator |
| Assets and Liabilities | |
|---|---|
| Assets | $333.75 million |
| Loans | $153.09 million |
| Deposits | $302.04 million |
| Equity Capital | $30.78 million |
| Loan Loss Allowance | $3.46 million |
| Unbacked Noncurrent Loans | $909,000 |
| Real Estate Owned | $0 |
| Historic Data - December 2012 | |
|---|---|
| Assets | $198.16 million |
| Equity Capital | $18.48 million |
| Loan Loss Allowance | $1.39 million |
| Unbacked Noncurrent Loans | $909,000 |
| Real Estate Owned | $0 |
| Profit Margin - Quarterly | |
|---|---|
| Net Interest Margin | 4.61% |
| Return on Assets | 0.4% |
| Return on Equity | 4.29% |
| Interest Income | $9.04 million |
Always verify rates and promotions with the bank or credit union. We are not Premier One Credit Union, we are a rate comparison website and can not provide official rates or promotions.
Premier One Credit Union Savings Account Rates
| Details | APY | MIN | MAX | PRODUCT |
|---|---|---|---|---|
| 3.00% | - | $6,450 | Health Savings Checking Account | |
| 0.30% | $25k | - | IRA Share Account | |
| 0.30% | $25k | - | Roth IRA Share Account | |
| 0.30% | $25k | - | CESA Share Account | |
| 0.05% | $100 | - | Regular Share Account | |
| 0.05% | - | - | Select Savings Maturity Date 11-1 | |
| 0.05% | - | - | Select Savings Maturity Date 6-1 | |
| 0.05% | $50 | - | Additional Share Account | |
| 0.05% | - | - | Kids1st Club | |
| 0.05% | - | - | Teen Savings | |
| 0.05% | - | - | Trust Savings | |
| 0.05% | $50 | - | Business Savings |
Premier One Credit Union Money Market Rates
| Details | APY | MIN | MAX | PRODUCT |
|---|---|---|---|---|
| 0.25% | $250k | - | Premier Money Market |
Premier One Credit Union Checking Account Rates
| Details | APY | MIN | MAX | PRODUCT |
|---|---|---|---|---|
| 1.00% | - | $25k | PremierOne Spend Account | |
| 0.05% | - | - | PremierOne Spend Account |
Premier One Credit Union CD Rates
| Details | APY | MIN | MAX | PRODUCT |
|---|---|---|---|---|
| 1.00% | $1k | - | 60 Month CD | |
| 0.90% | $1k | - | 48 Month CD | |
| 0.70% | $1k | - | 36 Month CD | |
| 0.45% | $1k | - | 24 Month CD | |
| 0.35% | $1k | - | 18 Month CD | |
| 0.30% | $1k | - | 12 Month CD | |
| 0.25% | $1k | - | 6 Month CD | |
| 0.10% | $1k | - | 3 Month CD |
Premier One Credit Union IRA Rates
| Details | APY | MIN | MAX | PRODUCT |
|---|---|---|---|---|
| 1.00% | $1k | - | 60 Month IRA (Traditional,CESA,Roth) | |
| 0.90% | $1k | - | 48 Month IRA (Traditional,CESA,Roth) | |
| 0.70% | $1k | - | 36 Month IRA (Traditional,CESA,Roth) | |
| 0.45% | $1k | - | 24 Month IRA (Traditional,Roth,CESA) | |
| 0.35% | $1k | - | 18 Month IRA (Traditional,Roth,CESA) | |
| 0.30% | $1k | - | 12 Month IRA (Traditional,Roth,CESA) | |
| 0.25% | $1k | - | 6 Month IRA (Traditional,Roth,CESA) | |
| 0.10% | $1k | - | 3 Month IRA (Traditional,Roth,CESA) |
| Premier One Credit Union Locations | ||
|---|---|---|
| Branch Office | 88 S 4th St | San Jose, CA 95112-3582 |
| Branch Office | 5353 ALMADEN EXPY # F-80 | SAN JOSE, CA 95118-3637 |
| Branch Office | 2999 SAN YSIDRO WAY | SANTA CLARA, CA 95051-0604 |
| Branch Office | 140 Asbury St | San Jose, CA 95110 |