1 star ratingAverage User Rating:
1 star rating based on 1 review.

RiverLand Credit Union

RiverLand Credit Union Locations
639 Loyola Ave., Suite 220
New Orleans, LA 70113
504-576-5800
www.riverlandcu.org

NCUA


RiverLand Credit Union is headquartered in New Orleans and is the 13st largest credit union in the state of Louisiana. It is also the 956th largest credit union in the nation. It was established in 1978 and as of December of 2012, it had grown to 48 employees and 14,825 members. RiverLand Credit Union's savings rates are 3X the national average, and it has a 4-star health rating.

RiverLand Credit Union Routing Number: 265082449

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

RiverLand Credit Union Savings Account Rates

ApyMinMaxProduct
1.50%--HSA
1.00%$1k-36 Month HSA Certificate
1.00%$1k-60 Month HSA Certificate
0.85%$1k-24 Month HSA Certificate
0.65%$1k-18 Month HSA Certificate
0.50%$1k-12 Month HSA Certificate
0.35%$1k-6 Month HSA Certificate
0.25%$10k-Share (Savings)
0.25%$105-Christmas Club
0.25%$1k-3 Month HSA Certificate

RiverLand Credit Union Money Market Rates

ApyMinMaxProduct
1.00%$100-Money Market IRA
1.00%$100-Money Market Roth IRA
1.00%$100-Money Market CESA
0.40%$1k-Money Market Investment
0.40%$25k-Super Money Market
0.15%--Money Market Checking

RiverLand Credit Union CD Rates

ApyMinMaxProduct
1.00%$1k-36 Month Certificate
1.00%$1k-60 Month Certificate
0.85%$1k-24 Month Certificate
0.65%$1k-18 Month Certificate
0.50%$1k-12 Month Certificate
0.35%$1k-6 Month Certificate
0.25%$1k-3 Month Certificate

RiverLand Credit Union IRA Rates

ApyMinMaxProduct
1.00%$1k-36 Month IRA Certificate
1.00%$1k-60 Month IRA Certificate
1.00%$1k-36 Month Roth IRA Certificate
1.00%$1k-60 Month Roth IRA Certificate
1.00%$1k-36 Month CESA Certificate
1.00%$1k-60 Month CESA Certificate
0.85%$1k-24 Month IRA Certificate
0.85%$1k-24 Month Roth IRA Certificate
0.85%$1k-24 Month CESA Certificate
0.65%$1k-18 Month IRA Certificate
0.65%$1k-18 Month Roth IRA Certificate
0.65%$1k-18 Month CESA Certificate
0.50%$1k-12 Month IRA Certificate
0.50%$1k-12 Month Roth IRA Certificate
0.50%$1k-12 Month CESA Certificate
0.35%$1k-6 Month IRA Certificate
0.35%$1k-6 Month Roth IRA Certificate
0.35%$1k-6 Month CESA Certificate
0.25%$1k-3 Month IRA Certificate
0.25%$1k-3 Month Roth IRA Certificate
0.25%$1k-3 Month CESA Certificate

Rates updated: 5/24/2013

Data for Q4 2012


Institution Statistics


RIVERLAND
NCUA #64534
BankRate ReportView
Year Chartered1978
Employees48
Primary Regulator

Assets and Liabilities

Assets$183.52 million
Loans$148.18 million
Deposits$167.93 million
Equity Capital$13.94 million
Loan Loss Allowance$895,000
Unbacked Noncurrent Loans$2.02 million

Historic Data - December 2011

Assets$174.66 million
Equity Capital$13.28 million
Loan Loss Allowance$913,000
Unbacked Noncurrent Loans$2.13 million

Profit Margin - Quarterly

Net Interest Margin5.2%
Return on Assets0.42%
Return on Equity5.5%
Interest Income$7.88 million
Non-Interest Income$928,000

Institution Health


Overall Score:
4 out of 5
4
Texas Ratio4
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, 2012 RiverLand Credit Union had $2.02 million in non-current loans and owned real-estate with $14.83 million in equity and loan loss allowances on hand to cover it. This gives RiverLand Credit Union a Texas Ratio of 13.62% which is above average. Any bank with a Texas Ratio near or greater than 100% is considered at risk.
Texas Ratio Trend3
The Texas Ratio for RiverLand Credit Union held steady from 15.02% as of December 31, 2011 to 13.62% as of December 31, 2012, resulting in a positive change of 9.28%.This indicates that the balance sheet and financial strength for RiverLand Credit Union has held steady in recent periods.
Deposit Growth5
In the past year, RiverLand Credit Union has increased its total deposits by $8.13 million, resulting in 5.09% 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 RiverLand Credit Union has shown is excellent.
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. RiverLand Credit Union has $183.52 million in assets with $14.83 million in equity, resulting in a capitalization level of 8.08%, which is average.
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Application Denied After Costly Membership Requirement
1 stars - Saver - Saturday, January 29, 2011 - 3:29 PM

I applied for membership in the RiverLand Credit Union because it has the highest money market rates for IRAs and HSAs.  It is possible to become a member by contributing to the Arts Council of New Orleans.  I made a $10 contribution to the Arts Council and submitted my application to RiverLand.  I received a response from RiverLand that they would have to have proof of my membership in the Arts Council.  That turned out to cost $60.  I became a member because the additional interest income would have exceeded that amount.  Within days, I received a denial from RiverLand.  Couldn't they have let me know in the first letter that they were not intending to approve my application rather than putting me through this costly charade?

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