1 star ratingAverage User Rating:
1 star rating based on 4 reviews.

PrimeWay Federal Credit Union

PrimeWay Federal Credit Union Locations
PO Box 53088
Houston, TX 77052
(800) 554-5690
www.primewayfcu.com



PrimeWay Federal Credit Union is headquartered in Houston and is the 40th largest credit union in the state of Texas. It is also the 489th largest credit union in the nation. It was established in 1937 and as of December of 2011, it had grown to 139 employees and 51,814 members. PrimeWay Federal Credit Union has a 3-star health rating.

Related Posts

2.50% 5-Year CD At Primeway Federal Credit Union In Houston (Forum) - 10/26/2010

PrimeWay's 5-year CD is fairly competitive with a 2.50% APY as of 10/26/2010. Rates on the shorter terms are much less competitive. According to the disclosure, the early withdrawal penalty is 180 days of interest for the terms over 1 year. From the cre

3.80% 60-Month CD Continues at PrimeWay Federal Credit Union in Houston - Local Only - 11/30/2009

PrimeWay Federal Credit Union continues to offer two competitive long-term certificate rates: 3.80% APY for a 5-year term and 3.29% APY for a 4-year term. Minimum deposit is $500. These are also available in an IRA certificate. Elite and Premier Checking...

3.80% 60-Month CD at PrimeWay Federal Credit Union in Houston - Local Only - 9/25/2009

PrimeWay Federal Credit Union is offering two competitive long-term certificate rates: 3.80% APY for a 5-year term and 3.29% APY for a 4-year term. Minimum deposit is $500. These are also available in an IRA certificate. Elite and Premier Checking...

4.32% 6-Month CD at PrimeWay FCU in Houston - 11/10/2008

Update 12/08/08: This CD special seems to have ended early. It's no longer listed at the credit union's website.PrimeWay Federal Credit Union is offering a promotion with two competitive share certificates: 4.32% APY for a 6-month term and 4.06% APY for...

2008




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

PrimeWay Federal Credit Union Checking Account Rates

ApyMinMaxProduct
0.05%$1k-Premier Checking Share Draft
0.05%--Elite Checking Share Draft

PrimeWay Federal Credit Union Savings Account Rates

ApyMinMaxProduct
0.30%--Tax Advantaged Savings IRA
0.30%--Tax Advantaged Savings Roth IRA
0.30%--Tax Advantaged Savings CESA
0.05%$100-Primary Shares
0.05%$100-Christmas Club

PrimeWay Federal Credit Union Money Market Rates

ApyMinMaxProduct
0.40%$75k-Money Market Account

PrimeWay Federal Credit Union CD Rates

ApyMinMaxProduct
1.76%$500-60 Month Share Certificate
1.26%$500-48 Month Share Certificate
1.00%$500-36 Month Share Certificate
0.75%$500-24 Month Share Certificate
0.60%$75k-12 Month Share Certificate Jumbo
0.50%$500$75k12 Month Share Certificate
0.50%$75k-6 Months Share Certificate Jumbo
0.50%$250-12 Month Youth Club Certificate
0.40%$500$75k6 Month Share Certificate

PrimeWay Federal Credit Union IRA Rates

ApyMinMaxProduct
1.76%$500-60 Month IRA Share Certificate
1.76%$500-60 Month Roth IRA Share Certificate
1.76%$500-60 Month CESA Share Certificate
1.26%$500-48 Month IRA Share Certificate
1.26%$500-48 Month Roth IRA Share Certificate
1.26%$500-48 Month CESA Share Certificate
1.00%$500-36 Month IRA Share Certificate
1.00%$500-36 Month Roth IRA Share Certificate
1.00%$500-36 Month CESA Share Certificate
0.75%$500-24 Month IRA Share Certificate
0.75%$500-24 Month Roth IRA Share Certificate
0.75%$500-24 Month CESA Share Certificate
0.60%$75k-12 Month IRA Share Certificate Jumbo
0.60%$75k-12 Month Roth IRA Share Certificate Jumbo
0.60%$75k-12 Month CESA Share Certificate Jumbo
0.50%$500$75k12 Month IRA Share Certificate
0.50%$75k-6 Month IRA Share Certificate Jumbo
0.50%$75k-6 Month Roth IRA Share Certificate Jumbo
0.50%$500$75k12 Month Roth IRA Share Certificate
0.50%$75k-6 Month CESA Share Certificate Jumbo
0.50%$500$75k12 Month CESA Share Certificate
0.40%$500$75k6 Month IRA Share Certificate
0.40%$500$75k6 Month Roth IRA Share Certificate
0.40%$500$75k6 Month CESA Share Certificate

Rates updated: 5/26/2012

Data for Q4 2011


Institution Statistics


PRIMEWAY
NCUA #2131
BankRate ReportView
Year Chartered1937
Employees139
Primary Regulator

Assets and Liabilities

Assets$398.37 million
Loans$214.66 million
Deposits$363.02 million
Equity Capital$30.11 million
Loan Loss Allowance$2.76 million
Unbacked Noncurrent Loans$6.05 million
Real Estate Owned$886,000

Historic Data - December 2010

Assets$393.99 million
Equity Capital$31.38 million
Loan Loss Allowance$3.19 million
Unbacked Noncurrent Loans$8.57 million

Profit Margin - Quarterly

Net Interest Margin5.87%
Return on Assets-0.1%
Return on Equity-1.37%
Interest Income$16.38 million
Non-Interest Income$7.65 million

Institution Health


Overall Score:
3 out of 5
3
Texas Ratio3
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, 2011 PrimeWay Federal Credit Union had $6.93 million in non-current loans and owned real-estate with $32.87 million in equity and loan loss allowances on hand to cover it. This gives PrimeWay Federal Credit Union a Texas Ratio of 21.09% which is average. Any bank with a Texas Ratio near or greater than 100% is considered at risk.
Texas Ratio Trend3
The Texas Ratio for PrimeWay Federal Credit Union held steady from 24.80% as of December 31, 2010 to 21.09% as of December 31, 2011, resulting in a positive change of 14.98%.This indicates that the balance sheet and financial strength for PrimeWay Federal Credit Union has held steady in recent periods.
Deposit Growth4
In the past year, PrimeWay Federal Credit Union has increased its total deposits by $4.61 million, resulting in 1.28% 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 PrimeWay Federal Credit Union has shown is above average.
Capitalization3
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. PrimeWay Federal Credit Union has $398.37 million in assets with $32.87 million in equity, resulting in a capitalization level of 8.25%, which is average.
Write Review

Deceptive Holds On Checking Account Cause Fees.
1 stars - pissedofftexan - Wednesday, May 16, 2012 - 11:57 AM

I have been a member of Primeway for several years.  Always kept my loans and accounts in good standing.  Things recently have been a little tight.  A hold on some transactions in your checking account will cause an over draft fee, even when your balance shows positive.  The algorithm they use to run the accounts and withdrawals and fees, in my opinion is very deceptive, and is to benefit the credit union to make money off of fees.

3

Close Your Account When Your Finished!!
2 stars - cowgirlcory - Monday, December 12, 2011 - 2:07 PM

I financed my car through PW and everything was fine. Once my car was paid off, they would send me statements about how much was in my acct, $39 and some change. I called them to ask where it came from. Apparently, they put $25 in your account to keep it open throughout your loan, the difference was interest. They take back the $25 when you close. I thought I would leave it open to accrue interest insted of getting a check for $14. Now, almost a year later, they take out $10/mo for a 'non active' fee, then another $4 for a 'below $25' fee! When I tried to call and have them close it, they told me to fax the request, so i did. A month later (yesterday), another statement with the above deducted. I called again today, ready to raise heck, but the service lady was nice and said 'no problem, we will close your acct'. Lets see what next month brings...

3

This Place Is A Joke!
1 stars - kaylap87 - Friday, May 4, 2012 - 10:56 AM

If I could rate this zero stars I would. My husband was member of Texas One for MANY years.. and then Primeway bought them out. We never really had any problems with Texas One. He had a truck financed through them and paid off the truck over 2 years ago. When Primeway took over, they are now reporting on our credit EVERY QUARTER that we are OVER 120 DAYS LATE. Excuse me, but please enlighten me on how we are late on something that has been paid off for two years. Ontop of that, since we are "delinquent" on an account that is paid off, we are not able to use our account to make any purchases. ABSOLUTELY RIDICULOUS. We have repeatedly talked to people about this issue and every time we get the same old "oh my gosh we are so sorry we will take care of this immediately" and then by the time the next quarterly update comes in its the same BS. Definitely closing our account down with them and will NEVER go back to them again. Primeway is a joke.

2

Stauy Away From This Place!!!!
1 stars - a_rowghani - Tuesday, August 9, 2011 - 10:27 AM

My loan was taken over by Prime Way and ever since the customer service is absolutely atrosious!! In the 4 1/2 years ive been paying my loan, I have NEVER been late!!! NOT 1 SINGLE LATE PAYMENT!!! After I lost my job, I was unable to make payments fo a few months. Once I got back on my feet, I was told that they could not waive 1 late fee from my acct. Now I know it is my responsibility to make my payments on time but geezzz!!! Over 55 on time payments and couldnt get 1 single fee waived!! These guys care more about there $22 fee than a lifetime repeat customer!! Once my loan is complete in the next few months, I will NEVER use them or refer anyone to them again!! I would advise anyone thinking of acquiring a loan with them to seriously weigh your options because theyre Customer Service is the poorest Ive ever seen!

2