Softite Community Credit Union

Softite Community Credit Union is headquartered in MARTINS FERRY and is the 189^th largest credit union in the state of Ohio. It is also the 3,948^th largest credit union in the nation. It was established in 1969 and as of December of 2011, it had grown to 9 employees and 2,804 members. Softite Community Credit Union's savings rates are 4X the national average, and it has a 4-star health rating.

Softite Community Credit Union Savings Account Rates

Softite Community Credit Union CD Rates

Data for Q4 2011

Institution Statistics SOFTITE COMMUNITY NCUA # 19433 BankRate Report View Year Chartered 1969 Employees 9 Primary Regulator Assets and Liabilities Assets $15.31 million Loans $10.76 million Deposits $13.53 million Equity Capital $1.76 million Loan Loss Allowance $252,000 Unbacked Noncurrent Loans $272,000 Historic Data - December 2010 Assets $12.54 million Equity Capital $1.56 million Loan Loss Allowance $25,000 Unbacked Noncurrent Loans $106,000 Profit Margin - Quarterly Net Interest Margin 9.26% Return on Assets 1.3% Return on Equity 11.31% Interest Income $1.10 million Non-Interest Income $251,000

Institution Health Overall Score: 4 out of 5 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, 2011 Softite Community Credit Union had $272,000 in non-current loans and owned real-estate with $2.01 million in equity and loan loss allowances on hand to cover it. This gives Softite Community Credit Union a Texas Ratio of 13.53% which is above average. Any bank with a Texas Ratio near or greater than 100% is considered at risk. Texas Ratio Trend The Texas Ratio for Softite Community Credit Union increased slightly from 6.69% as of December 31, 2010 to 13.53% as of December 31, 2011, resulting in a negative change of 102.12%. This indicates that the balance sheet and financial strength for Softite Community Credit Union has declined slightly in recent periods. Deposit Growth In the past year, Softite Community Credit Union has increased its total deposits by $2.58 million, resulting in 23.51% 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 Softite Community Credit Union has shown is excellent. 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. Softite Community Credit Union has $15.31 million in assets with $2.01 million in equity, resulting in a capitalization level of 13.14%, which is excellent.

No reviews have been left for this bank yet. Be the first to review.