Dedicated to Deposits: Deals, Data, and Discussion
Featured Savings Rates
Featured Accounts
Overview / Commentary
Not Federally Insured
310-374-3436
2304 Artesia Blvd
Redondo Beach, CA 90278-3114

South Bay Credit Union is headquartered in Redondo Beach and is the 162nd largest credit union in the state of California. It is also the 1,702nd largest credit union in the nation. It was established in 1953 and as of March of 2014, it had grown to 13 employees and 7,078 members. South Bay Credit Union has a B+ 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

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



Health

Data for Q1 2014

Institution Health

B+
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:
A+

The Texas Ratio is an indicator of how much capital a bank has available compared to the total value of loans considered at risk. As of March 31, 2014 South Bay Credit Union had $551,000 in non-current loans and owned real-estate with $7.83 million in equity and loan loss allowances on hand to cover it. This gives South Bay Credit Union a Texas Ratio of 7.04% which is excellent. Any bank with a Texas Ratio near or greater than 100% is considered at risk.

Texas Ratio Trend

GRADE:
A+

The Texas Ratio for South Bay Credit Union decreased dramatically from 12.58% as of March 31, 2013 to 7.04% as of March 31, 2014, resulting in a positive change of 44.08%.This indicates that the balance sheet and financial strength for South Bay Credit Union has improved dramatically in recent periods.

Deposit Growth

GRADE:
C

In the past year, South Bay Credit Union has decreased its total deposits by $-950,000, resulting in -1.23% 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 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 $84.06 million in assets with $7.83 million in equity, resulting in a capitalization level of 9.31%, which is average.

Institution Statistics

Overall
NCUA #95052
Year Chartered1953
Employees13
Primary Regulator
Assets and Liabilities
Assets$84.06 million
Loans$56.06 million
Deposits$76.13 million
Equity Capital$7.20 million
Loan Loss Allowance$635,000
Unbacked Noncurrent Loans$319,000
Real Estate Owned$232,000
Historic Data - March 2013
Assets$82.53 million
Equity Capital$4.90 million
Loan Loss Allowance$592,000
Unbacked Noncurrent Loans$319,000
Real Estate Owned$232,000
Profit Margin - Quarterly
Return on Assets8.93%
Return on Equity104.35%
Interest Income$632,000
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
0.20%$1k-48 Month IRA
0.18%$1k-36 Month IRA
0.15%$1k-24 Month IRA
0.10%$1k-3 Month IRA
0.10%$1k-18 Month IRA
0.08%$1k-12 Month IRA
0.05%$1k-6 Month IRA
Locations


South Bay Credit Union Locations
Branch Office2304 Artesia BlvdRedondo Beach, CA 90278-3114
Branch Office25360 Crenshaw BlvdTorrance, CA 90505
Branch Office1421 N MEADOWWOOD LN STE 130LIBERTY LAKE, WA 99019-7613