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Overview / Commentary
Not Federally Insured
310-374-3436
2304 Artesia Blvd
Redondo Beach, CA 90278

South Bay Credit Union is headquartered in Redondo Beach and is the 167th largest credit union in the state of California. It is also the 1,720th largest credit union in the nation. It was established in 1953 and as of December of 2013, it had grown to 11 employees and 7,008 members. South Bay Credit Union has a C+ health rating.

Field of Membership Restrictions

Any and all persons who live, regularly work, currently attend school or currently worship in the area known as South Bay, California, including those cities/unincorporated areas identified in the following current corresponding zip codes are eligible to join South Bay Credit Union. - See Details

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Health

Data for Q4 2013

Institution Health

C+
Additional Factors: Institutions with a small asset base or a short operating history can represent an instability risk beyond what their financial ratios indicate. South Bay Credit Union has a relatively low asset base.

Texas Ratio

GRADE:
B+

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 South Bay Credit Union had $678,000 in non-current loans and owned real-estate with $5.94 million in equity and loan loss allowances on hand to cover it. This gives South Bay Credit Union a Texas Ratio of 11.41% which is above average. Any bank with a Texas Ratio near or greater than 100% is considered at risk.

Texas Ratio Trend

GRADE:
C+

The Texas Ratio for South Bay Credit Union experienced no significant changes from 10.86% as of December 31, 2012 to 11.41% as of December 31, 2013, resulting in a negative change of 5.02%. This indicates that the balance sheet and financial strength for South Bay Credit Union has had no significant changes in recent periods.

Deposit Growth

GRADE:
B+

In the past year, South Bay Credit Union has increased its total deposits by $973,000, resulting in 1.32% 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 South Bay Credit Union has shown is above average.

Capitalization

GRADE:
C-

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. South Bay Credit Union has $80.55 million in assets with $5.94 million in equity, resulting in a capitalization level of 7.38%, which is below average.

Institution Statistics

Overall
NCUA #95052
Year Chartered1953
Employees11
Primary Regulator
Assets and Liabilities
Assets$80.55 million
Loans$54.89 million
Deposits$74.92 million
Equity Capital$5.32 million
Loan Loss Allowance$627,000
Unbacked Noncurrent Loans$446,000
Real Estate Owned$232,000
Historic Data - December 2012
Assets$79.07 million
Equity Capital$4.81 million
Loan Loss Allowance$576,000
Unbacked Noncurrent Loans$446,000
Real Estate Owned$232,000
Profit Margin - Quarterly
Net Interest Margin3.87%
Return on Assets0.59%
Return on Equity8.99%
Interest Income$2.39 million
Rates

Always verify rates and promotions with the bank or credit union. We are not South Bay Credit Union, we are a rate comparison website and can not provide official rates or promotions.

South Bay Credit Union Savings Account Rates

DetailsAPYMINMAXPRODUCT
0.05%$2,500-Traditional IRA
0.05%$2,500-Roth IRA
0.01%$500-Primary Savings
0.01%$500-Secondary Savings
0.01%$500-Holiday Club

South Bay Credit Union Money Market Rates

DetailsAPYMINMAXPRODUCT
0.08%$100k-Money Market Accounts

South Bay Credit Union Checking Account Rates

DetailsAPYMINMAXPRODUCT
0.01%$2,500-Plus Checking
0.01%$2,500-E-Checking

South Bay Credit Union CD Rates

DetailsAPYMINMAXPRODUCT
0.25%$1k-60 Month CD
0.20%$1k-48 Month CD
0.18%$1k-36 Month CD
0.15%$1k-24 Month CD
0.10%$1k-18 Month CD
0.08%$1k-12 Month CD
0.05%$1k-6 Month CD
0.01%$1k-3 Month CD

South Bay Credit Union IRA Rates

DetailsAPYMINMAXPRODUCT
0.25%$1k-60 Month IRA (Traditional,Roth)
0.20%$1k-48 Month IRA (Traditional,Roth)
0.18%$1k-36 Month IRA (Traditional,Roth)
0.15%$1k-24 Month IRA (Traditional,Roth)
0.10%$1k-3 Month IRA (Traditional,Roth)
0.10%$1k-18 Month IRA (Traditional,Roth)
0.08%$1k-12 Month IRA (Traditional,Roth)
0.05%$1k-6 Month IRA (Traditional,Roth)
Locations


South Bay Credit Union Locations
Branch Office2304 Artesia BlvdRedondo Beach, CA 90278-3114
Branch Office25360 Crenshaw BlvdTorrance, CA 90505
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