Schofield Credit Union is headquartered in WAHIAWA and is the 39th largest credit union in the state of Hawaii. It is also the 2,677th largest credit union in the nation. It was established in 1951 and as of December of 2013, it had grown to 8 employees and 2,349 members. Schofield Credit Union's savings rates are 25% higher than the national average, and it has a B health rating.
Field of Membership Restrictions
Who Can Join? Ø Civilian and military personnel whose permanent duty station is at Schofield Barracks, Hawaii and their families. Ø Members of the U.S. Armed Forces, active or retired, and their families. Ø Students attending Leilehua High School in Wahiawa, Hawaii. Ø For other eligibility requirements, please call the Credit Union Note : Immediate family members and persons living in the same household are also eligible to join. (Immediate family consists of husband, wife and all children up to 18 years of age.) - See Details
Data for Q4 2013
Institution Health
Texas Ratio
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 Schofield Credit Union had $229,000 in non-current loans and owned real-estate with $4.74 million in equity and loan loss allowances on hand to cover it. This gives Schofield Credit Union a Texas Ratio of 4.83% which is excellent. Any bank with a Texas Ratio near or greater than 100% is considered at risk.
Texas Ratio Trend
The Texas Ratio for Schofield Credit Union experienced no significant changes from 0.41% as of December 31, 2012 to 4.83% as of December 31, 2013, resulting in a negative change of 1,069.95%. This indicates that the balance sheet and financial strength for Schofield Credit Union has had no significant changes in recent periods.
Deposit Growth
In the past year, Schofield Credit Union has decreased its total deposits by -$1.46 million, resulting in -4.39% 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 Schofield Credit Union has shown is below average.
Capitalization
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. Schofield Credit Union has $36.69 million in assets with $4.74 million in equity, resulting in a capitalization level of 12.93%, which is excellent.
Institution Statistics
| Overall | |
|---|---|
| NCUA # | 7423 |
| Year Chartered | 1951 |
| Employees | 8 |
| Primary Regulator |
| Assets and Liabilities | |
|---|---|
| Assets | $36.69 million |
| Loans | $11.05 million |
| Deposits | $31.79 million |
| Equity Capital | $4.70 million |
| Loan Loss Allowance | $46,000 |
| Unbacked Noncurrent Loans | $229,000 |
| Real Estate Owned | $0 |
| Historic Data - December 2012 | |
|---|---|
| Assets | $38.28 million |
| Equity Capital | $4.56 million |
| Loan Loss Allowance | $46,000 |
| Unbacked Noncurrent Loans | $229,000 |
| Real Estate Owned | $0 |
| Profit Margin - Quarterly | |
|---|---|
| Net Interest Margin | 2.97% |
| Return on Assets | 0.82% |
| Return on Equity | 6.41% |
| Interest Income | $853,000 |
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Schofield Credit Union Savings Account Rates
| Details | APY | MIN | MAX | PRODUCT |
|---|---|---|---|---|
| 0.65% | - | - | IRA Share | |
| 0.40% | $100k | - | Share Account |
Schofield Credit Union Checking Account Rates
| Details | APY | MIN | MAX | PRODUCT |
|---|---|---|---|---|
| 0.10% | - | - | Share Draft Account |
Schofield Credit Union CD Rates
| Details | APY | MIN | MAX | PRODUCT |
|---|---|---|---|---|
| 0.50% | $500 | - | 12 Month Share Certificate |
Schofield Credit Union IRA Rates
| Details | APY | MIN | MAX | PRODUCT |
|---|---|---|---|---|
| 1.00% | $500 | - | 12 Month IRA Certificate |
| Schofield Credit Union Locations | ||
|---|---|---|
| Branch Office | 2200 Kamehameha Hwy Ste 203 | HONOLULU, HI 96819 |
| Branch Office | PO Box 860669 | Wahiawa, HI 96786-0669 |