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Silver State Schools Family Credit Union

Silver State Schools Family Credit Union Locations
P.O. Box 12037
Las Vegas, NV 891120037
www.silverstatecu.com

Silver State Schools Family Credit Union is headquartered in Las Vegas and is the 2nd largest credit union in the state of Nevada. It is also the 304th largest credit union in the nation. It was established in 1951 and as of December of 2011, it had grown to 190 employees and 60,117 members. Silver State Schools Family Credit Union has a 1-star health rating.

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Largest Privately-Insured Credit Union Finally Releases Q4 Results (Forum) - 3/15/2011

From the Credit Union Times: Perhaps now the last credit union in the nation to file its year-end call reports, the long ailing Silver State Schools Credit Union of Las Vegas reported late Wednesday an improvement in its financial condition, but it still



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

Silver State Schools Family Credit Union Checking Account Rates

ApyMinMaxProduct
0.05%$1k-Regular Checking

Silver State Schools Family Credit Union Savings Account Rates

ApyMinMaxProduct
0.25%--IRA Savings
0.25%--Roth IRA Savings
0.25%--CESA Savings
0.05%--Regular Savings
0.05%--Junior Savings
0.05%--MY Account Savings
0.05%--Secondary Savings

Silver State Schools Family Credit Union Money Market Rates

ApyMinMaxProduct
0.30%$100k-Insured Money Market Plus
0.15%$25k-Insured Money Market

Silver State Schools Family Credit Union CD Rates

ApyMinMaxProduct
1.70%$500-60 Month CD
1.10%$500-48 - 59 Month CD
1.00%$100k-36 Month Jumbo CD
0.95%$500-36 - 47 Month CD
0.55%$100k-24 - 35 Month Jumbo CD
0.50%$500-24 - 35 Month CD
0.45%$100k-12 - 23 Month Jumbo CD
0.40%$500-12 - 23 Month CD
0.30%$100k-6 - 11 Month Jumbo CD
0.25%$500-6 - 11 Month CD
0.15%$500-3 - 5 Month CD

Silver State Schools Family Credit Union IRA Rates

ApyMinMaxProduct
1.70%$500-60 Month IRA
1.70%$500-60 Month Roth IRA
1.70%$500-60 Month CESA
1.10%$500-48 - 59 Month IRA
1.10%$500-48 - 59 Month Roth IRA
1.10%$500-48 - 59 Month CESA
0.95%$500-36 - 47 Month IRA
0.95%$500-36 - 47 Month Roth IRA
0.95%$500-36 - 47 Month CESA
0.55%$100k-24 Month Jumbo IRA
0.55%$100k-24 Month Jumbo Roth IRA
0.55%$100k-24 Month Jumbo CESA
0.50%$500-24 - 35 Month IRA
0.50%$500-24 - 35 Month Roth IRA
0.50%$500-24 - 35 Month CESA
0.45%$100k-12 Month Jumbo IRA
0.45%$100k-12 Month Jumbo Roth IRA
0.45%$100k-12 Month Jumbo CESA
0.40%$500-12 - 23 Month IRA
0.40%$500-12 - 23 Month Roth IRA
0.40%$500-12 - 23 Month CESA

Rates updated: 5/27/2012

Data for Q4 2011


Institution Statistics


SILVER STATE SCHOOLS FAMILY
NCUA #97085
BankRate ReportView
Year Chartered1951
Employees190
Primary Regulator

Assets and Liabilities

Assets$653.53 million
Loans$540.95 million
Deposits$622.79 million
Equity Capital$25.79 million
Loan Loss Allowance$31.98 million
Unbacked Noncurrent Loans$52.19 million
Real Estate Owned$4.18 million

Historic Data - December 2010

Assets$723.42 million
Equity Capital$34.20 million
Loan Loss Allowance$19.13 million
Unbacked Noncurrent Loans$46.06 million
Real Estate Owned$9.55 million

Profit Margin - Quarterly

Net Interest Margin5.79%
Return on Assets-1.28%
Return on Equity-32.51%
Interest Income$31.72 million
Non-Interest Income$14.90 million

Institution Health


Overall Score:
1 out of 5
1
Texas Ratio1
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, 2011 Silver State Schools Family Credit Union had $56.37 million in non-current loans and owned real-estate with $57.77 million in equity and loan loss allowances on hand to cover it. This gives Silver State Schools Family Credit Union a Texas Ratio of 97.58% which is poor. Any bank with a Texas Ratio near or greater than 100% is considered at risk.
Texas Ratio Trend3
The Texas Ratio for Silver State Schools Family Credit Union held steady from 104.27% as of December 31, 2010 to 97.58% as of December 31, 2011, resulting in a positive change of 6.41%.This indicates that the balance sheet and financial strength for Silver State Schools Family Credit Union has held steady in recent periods.
Deposit Growth1
In the past year, Silver State Schools Family Credit Union has decreased its total deposits by -$43.15 million, resulting in -6.48% 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 Silver State Schools Family Credit Union has shown is poor.
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. Silver State Schools Family Credit Union has $653.53 million in assets with $57.77 million in equity, resulting in a capitalization level of 8.84%, which is average.
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Awful Credit Union.
1 stars - cabrerajohn - Thursday, December 1, 2011 - 10:36 AM

Customer service is horrible, new fees popping up everywhere, tellers are undereducated and bank has no respect for long time members. I have stayed with this credit union becuase of convenience due to the fact that they are part of the CU service network and have been a member for 11 years! Finally closed my account and am so happy! P.O.S. customer service supervisor treated me as if I was a 10 year old child, when in fact he was a smarmy, little jerk that hung up on me! They nickle and dime you to death and act as if they are trying to be Chase or Bank of America, but sadly they are not.  Goodbye and goodriddance!

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