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PriorityONE Credit Union of Florida

Overview / Commentary
954-335-5100
3000 N. University Dr
Sunrise, FL 33322

PriorityONE Credit Union of Florida is headquartered in SUNRISE and is the 68th largest credit union in the state of Florida. It is also the 1,791st largest credit union in the nation. It was established in 1991 and as of December of 2013, it had grown to 26 employees and 9,914 members. PriorityONE Credit Union of Florida has a B+ health rating.

Field of Membership Restrictions

Credit union membership is open to anyone who lives or works in Broward County, Florida. Also eligible are Postal, Federal or Professional Employees, Trade Groups, and Associations who reside within Florida. Immediate family members of anyone eligible are welcome to join, too, even if the eligible person is not a member. - See Details

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Health

Data for Q4 2013

Institution Health

B+
Additional Factors: Institutions with a small asset base or a short operating history can represent an instability risk beyond what their financial ratios indicate. PriorityONE Credit Union of Florida has a relatively low asset base.

Texas Ratio

GRADE:
A+

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 PriorityONE Credit Union of Florida had $374,000 in non-current loans and owned real-estate with $7.72 million in equity and loan loss allowances on hand to cover it. This gives PriorityONE Credit Union of Florida a Texas Ratio of 4.84% which is excellent. Any bank with a Texas Ratio near or greater than 100% is considered at risk.

Texas Ratio Trend

GRADE:
C+

The Texas Ratio for PriorityONE Credit Union of Florida experienced no significant changes from 4.02% as of December 31, 2012 to 4.84% as of December 31, 2013, resulting in a negative change of 20.53%. This indicates that the balance sheet and financial strength for PriorityONE Credit Union of Florida has had no significant changes in recent periods.

Deposit Growth

GRADE:
B+

In the past year, PriorityONE Credit Union of Florida has increased its total deposits by $1.59 million, resulting in 2.44% 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 PriorityONE Credit Union of Florida has shown is above average.

Capitalization

GRADE:
B+

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. PriorityONE Credit Union of Florida has $74.86 million in assets with $7.72 million in equity, resulting in a capitalization level of 10.32%, which is above average.

Institution Statistics

Overall
NCUA #67444
Year Chartered1991
Employees26
Primary Regulator
Assets and Liabilities
Assets$74.86 million
Loans$35.47 million
Deposits$66.87 million
Equity Capital$7.22 million
Loan Loss Allowance$503,000
Unbacked Noncurrent Loans$281,000
Real Estate Owned$93,000
Historic Data - December 2012
Assets$73.36 million
Equity Capital$7.39 million
Loan Loss Allowance$452,000
Unbacked Noncurrent Loans$281,000
Real Estate Owned$0
Profit Margin - Quarterly
Net Interest Margin6.89%
Return on Assets0.24%
Return on Equity2.53%
Interest Income$2.88 million
Rates

Always verify rates and promotions with the bank or credit union. We are not PriorityONE Credit Union of Florida, we are a rate comparison website and can not provide official rates or promotions.

PriorityONE Credit Union of Florida Savings Account Rates

DetailsAPYMINMAXPRODUCT
0.25%--IRA Share Account
0.25%--Roth IRA Share Account
0.25%--Education IRA Share Account
0.10%--Regular Share Savings Account
0.10%$2,500-Prestige Savings Account
0.10%$25-Student Savings
0.10%--Club Share Account

PriorityONE Credit Union of Florida Money Market Rates

DetailsAPYMINMAXPRODUCT
0.45%$100k-Elite Money Market Account
0.25%$50k-First Class Money Market Account

PriorityONE Credit Union of Florida Checking Account Rates

DetailsAPYMINMAXPRODUCT
2.00%-$25ki-Net Checking
1.00%-$25kGo Green Checking
0.10%--i-Net Checking

PriorityONE Credit Union of Florida CD Rates

DetailsAPYMINMAXPRODUCT
1.50%$1k-60 Month Term Certificate
0.90%$1k-48 Month Term Certificate
0.80%$1k-36 Month Term Certificate
0.60%$1k-24 Month Term Certificate
0.40%$1k-12 Month Term Certificate
0.20%$1k-6 Month Term Certificate
0.10%$1k-3 Month Term Certificate

PriorityONE Credit Union of Florida IRA Rates

DetailsAPYMINMAXPRODUCT
1.50%$500-60 Month IRA Certificate (Traditional,Roth,CESA)
0.90%$500-48 Month IRA Certificate (Traditional,Roth,CESA)
0.80%$500-36 Month IRA Certificate (Traditional,Roth,CESA)
0.60%$500-24 Month IRA Certificate (Traditional,Roth,CESA)
0.40%$500-12 Month IRA Certificate (Traditional,Roth,CESA)
Locations


PriorityONE Credit Union of Florida Locations
Branch Office1900 W Oakland Park BlvdFort Lauderdale, FL 33310
Branch Office3000 N University DrSunrise, FL 33322-1611
Branch Office1700 N University Dr Ste 100Coral Springs, FL 33071-8970