PrimeWay Federal Credit Union is headquartered in Houston and is the 43rd largest credit union in the state of Texas. It is also the 499th largest credit union in the nation. It was established in 1937 and as of September of 2013, it had grown to 116 employees and 48,389 members. PrimeWay Federal Credit Union has a B+ health rating.
You’re eligible if you live, work, worship or attend school in the city of Houston, Washington or Fort Bend counties or most of Harris county. You’re also eligible if you work for one of our select employee groups. - See Details
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.
Having been a customer with Cameron Credit Union, then Texas One and now Primeway for 28 yrs. consecutively I will be running as fast as I can from this bunch of IDIOTS. I was a victim of a purse theft. Without going into laborious detail the bank has now victimized me again by not shutting my account down immediately. I am now left with trying to submit fraud charges to Telecheck and the police because the theives have been writing $2500.00 checks on my account! Any other institution would have taken immediate action but the branch manager couldn't be bothered to meet with me in person ( I was told she was indeed in the building). This is not the way I expect my money and myself to be treated. They have broken a trust.
Make sure you tell the credit union to activate your debit card by phone on their end before you leave the credit union. Stand there and watch them do it. Otherwise you will send your college student living in a different city where there is NO PW credit union a worthless debit card.
They will need to get through a weekend with $10 cash, no gas in their car, and no campus cafeterias open to eat. They will be forced to borrow money from other college students who also have NO MONEY...and hope that someone will kindly feed them. And to rub salt in the wounds PW refused to overnight a fully activated debit card to my son. Why? they don't send debit cards to a PO box. Okay - I get that however I am a long time customer, I eat lunch with the credit union president - they knew my son was away at school. When a student lives on campus in a dorm they will NEVER have a street address.
First off I have had a auto loan since 2008 and now all of a sudden Primeway wants to try to repo my vehicle. I have made all of my payments on time and the only problem on my part is having liability insurance. So they take it upon themselves to start charging me an extra $1000 a year to my account to pay for their insurance that does not even cover me. Ever since Primeway has taken over my auto loan I have had nothing but problems. If you ever get a chance to have another company deal with your account or loan take that offer immediately and stay far away from this crappy company. This place is the biggest joke I have ever come across. I will never do business with these people again.
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, 2013 PrimeWay Federal Credit Union had $2.1 million in non-current loans and owned real-estate with $27.95 million in equity and loan loss allowances on hand to cover it. This gives PrimeWay Federal Credit Union a Texas Ratio of 7.50% which is excellent. Any bank with a Texas Ratio near or greater than 100% is considered at risk.
The Texas Ratio for PrimeWay Federal Credit Union decreased dramatically from 11.19% as of September 30, 2012 to 7.50% as of September 30, 2013, resulting in a positive change of 33.00%.This indicates that the balance sheet and financial strength for PrimeWay Federal Credit Union has improved dramatically in recent periods.
In the past year, PrimeWay Federal Credit Union has increased its total deposits by $14.93 million, resulting in 3.9% 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 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. PrimeWay Federal Credit Union has $429.43 million in assets with $27.95 million in equity, resulting in a capitalization level of 6.51%, which is below average.
|Assets and Liabilities|
|Equity Capital||$26.16 million|
|Loan Loss Allowance||$1.79 million|
|Unbacked Noncurrent Loans||$2.10 million|
|Real Estate Owned||$0|
|Historic Data - September 2012|
|Equity Capital||$28.88 million|
|Loan Loss Allowance||$2.09 million|
|Unbacked Noncurrent Loans||$2.10 million|
|Real Estate Owned||$1.30 million|
|Profit Margin - Quarterly|
|Net Interest Margin||3.27%|
|Return on Assets||-0.03%|
|Return on Equity||-0.53%|
|Interest Income||$10.60 million|
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|0.15%||-||-||Tax Advantaged Savings IRA|
|0.15%||-||-||Tax Advantaged Savings Roth IRA|
|0.15%||-||-||Tax Advantaged Savings CESA|
|0.30%||$75k||-||Money Market Account|
|0.05%||$1k||-||Premier Checking Share Draft|
|0.05%||-||-||Elite Checking Share Draft|
|1.00%||$500||-||60 Month Share Certificate|
|0.75%||$500||-||48 Month Share Certificate|
|0.50%||$500||-||36 Month Share Certificate|
|0.35%||$500||-||24 Month Share Certificate|
|0.35%||$75k||-||12 Month Share Certificate Jumbo|
|0.25%||$500||$75k||12 Month Share Certificate|
|0.25%||$75k||-||6 Month Share Certificate Jumbo|
|0.25%||$250||-||12 Month Youth Club Certificate|
|0.15%||$500||$75k||6 Month Share Certificate|
|1.00%||$500||-||60 Month IRA Share Certificate|
|1.00%||$500||-||60 Month Roth IRA Share Certificate|
|1.00%||$500||-||60 Month CESA Share Certificate|
|0.75%||$500||-||48 Month IRA Share Certificate|
|0.75%||$500||-||48 Month Roth IRA Share Certificate|
|0.75%||$500||-||48 Month CESA Share Certificate|
|0.50%||$500||-||36 Month IRA Share Certificate|
|0.50%||$500||-||36 Month Roth IRA Share Certificate|
|0.50%||$500||-||36 Month CESA Share Certificate|
|0.35%||$500||-||24 Month IRA Share Certificate|
|0.35%||$75k||-||12 Month IRA Share Certificate Jumbo|
|0.35%||$75k||-||12 Month Roth IRA Share Certificate Jumbo|
|0.35%||$500||-||24 Month Roth IRA Share Certificate|
|0.35%||$75k||-||12 Month CESA Share Certificate Jumbo|
|0.35%||$500||-||24 Month CESA Share Certificate|
|0.25%||$500||$75k||12 Month IRA Share Certificate|
|0.25%||$75k||-||6 Month IRA Share Certificate Jumbo|
|0.25%||$75k||-||6 Month Roth IRA Share Certificate Jumbo|
|0.25%||$500||$75k||12 Month Roth IRA Share Certificate|
|0.25%||$75k||-||6 Month CESA Share Certificate Jumbo|
|0.25%||$500||$75k||12 Month CESA Share Certificate|
|0.15%||$500||$75k||6 Month IRA Share Certificate|
|0.15%||$500||$75k||6 Month Roth IRA Share Certificate|
|0.15%||$500||$75k||6 Month CESA Share Certificate|
|PrimeWay Federal Credit Union Locations|
|Branch Office||2503 Bagby St||Houston, TX 77006-1605|
|Branch Office||9828 Blackhawk Blvd||Houston, TX 77075|
|Branch Office||100 Dominion Park Dr||Houston, TX 77090-6716|
|Branch Office||6550 Fannin St Ste 235||Houston, TX 77030-2739|
|Branch Office||3800 Washington Ave||Houston, TX 77007-5822|
|Branch Office||7000 Fannin St Ste 120||Houston, TX 77030|
|Branch Office||5201 Highway 6 Ste 650||Missouri City, TX 77459|
|Branch Office||13611 Skinner Rd Ste 170||Cypress, TX 77429|
|Branch Office||12811 Northwest Fwy||Houston, TX 77040|