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

RiverLand Credit Union is headquartered in New Orleans and is the 13st largest credit union in the state of Louisiana. It is also the 943rd largest credit union in the nation. It was established in 1978 and as of September of 2011, it had grown to 44 employees and 14,720 members. RiverLand Credit Union's savings rates are 6X the national average, and it has a 4-star health rating.

RiverLand Credit Union Routing Number: 265082449

Related Posts

Big Rate Cuts at RiverLand Credit Union (Forum) - 5/12/2010

RiverLand Credit Union slashed its CD rates today from 25 to 50 basis points. The big cuts were on the 60-month CD (3.50% to 3.00% APY) and on the 24-month CD (2.25% to 1.75% APY).

Top CD Rates at RiverLand Credit Union - Easy Membership - 4/29/2010

I came across RiverLand Credit Union today. It's similar to Fort Knox FCU in that it offers very competitive CD rates and has made it easy to join via an association. The CD rates are currently no be ...

4.00% 11-Month CD at a TX/LA/MS Credit Union (RiverLand). - 4/28/2008

Update 5/3/08: The CD special has ended.RiverLand Credit Union is offering a special 4.00% APY 11-month CD. The minimum deposit is $1,000. The credit union's standard certificate rates are also competitive. The yield for terms from 6 months to 24 months...



Report an Issue
See Rates for: Savings | Money Market | CD | IRA

RiverLand Credit Union Savings Account Rates

ApyMinMaxProduct
3.00%--HSA
0.25%$105-Share (Savings)
0.25%$105-Christmas Club

RiverLand Credit Union Money Market Rates

ApyMinMaxProduct
1.50%$100-Money Market IRA
0.50%$1k-Money Market Investment
0.50%$25k-Super Money Market
0.15%--Money Market Checking

RiverLand Credit Union CD Rates

ApyMinMaxProduct
2.00%$1k-60 Month Certificate
1.50%$1k-36 Month Certificate
1.25%$1k-24 Month Certificate
1.10%$1k-18 Month Certificate
1.00%$1k-12 Month Certificate
0.65%$1k-6 Month Certificate
0.60%$1k-3 Month Certificate

RiverLand Credit Union IRA Rates

ApyMinMaxProduct
2.00%$1k-60 Month IRA Certificate
1.50%$1k-36 Month IRA Certificate
1.25%$1k-24 Month IRA Certificate
1.10%$1k-18 Month IRA Certificate
1.00%$1k-12 Month IRA Certificate
0.65%$1k-6 Month IRA Certificate
0.60%$1k-3 Month IRA Certificate

Rates updated: 2/11/2012

Data for Q3 2011


Institution Statistics


RIVERLAND
NCUA #64534
BankRate ReportView
Year Established1978
Employees44
Primary Regulator

Assets and Liabilities

Assets$174.48 million
Loans$153.20 million
Deposits$159.39 million
Equity Capital$12.94 million
Loan Loss Allowance$794,000
Unbacked Noncurrent Loans$1.91 million

Historic Data - September 2010

Assets$171.56 million
Equity Capital$12.05 million
Loan Loss Allowance$658,000
Unbacked Noncurrent Loans$1.41 million

Profit Margin - Quarterly

Net Interest Margin3.84%
Return on Assets0.35%
Return on Equity4.72%
Interest Income$6.02 million
Non-Interest Income$640,000

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 September 30, 2011 RiverLand Credit Union had $1.91 million in non-current loans and owned real-estate with $13.73 million in equity and loan loss allowances on hand to cover it. This gives RiverLand Credit Union a Texas Ratio of 13.89% 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 11.09% as of September 30, 2010 to 13.89% as of September 30, 2011, resulting in a negative change of 25.22%. This indicates that the balance sheet and financial strength for RiverLand Credit Union has held steady in recent periods.
Deposit Growth4
In the past year, RiverLand Credit Union has increased its total deposits by $3.04 million, resulting in 1.94% 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 above average.
Capitalization2
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 $174.48 million in assets with $13.73 million in equity, resulting in a capitalization level of 7.87%, which is below average.
Write Review

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?

25
 
Featured Savings Account
Nationwide Savings Accounts