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Overview / Commentary
708-857-7070
9122 S Kedzie Ave
Evergreen Park, IL 60805

South Division Credit Union is headquartered in Evergreen Park and is the 68th largest credit union in the state of Illinois. It is also the 2,256th largest credit union in the nation. It was established in 1935 and as of December of 2013, it had grown to 17 employees and 7,788 members. South Division Credit Union has a B+ health rating.

Field of Membership Restrictions

South Division Credit Union is a nationwide family community that accepts Members from any U.S. neighborhood of family and friends with a household USPS Zip Code ranging between 01000-99999. Membership is open to ChildrenĀ¹ (Kid's Club), Student's (Student's First Checking and Savings), and Adults (Full line of products and services). - See Details

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Reviews (2)

Be Careful What You Wish For...

I was looking for a better interest rate one evening, and these folks looked like a good bet - WRONG!  As I proceeded to fill out the online app., I read further into the offer and decided against joining.  Backed out all info. and closed the website.  NEVER clicked on a "confirm" or "submit" box of any kind, and DID NOT complete the app.  Two days later I've got paperwork (including what I DIDN'T fill out online) for my "new account" in the mail (so they could "legally open my account"), and my current checking account is being debited for the "initial deposit".  Once again, I NEVER completed, confirmed or submitted the application!  I immediately called South Division, and the representative promised to close the unauthorized account, refund my "deposit", and confirm all via email response to my email (sent minutes later) outlining the problem in writing.  Rec'd nothing.  Called AGAIN a few days later and asked for a supervisor.  He did not answer, so my problem and phone info. were taken with the promise of a phone response the following day, "as soon as he can look at the problem."  Again, NOTHING - NO RESPONSE!  I had to go to my current bank to have the unauthorized ACH transaction initiated by South Division reversed and my money refunded.  BEWARE!! 

Loan Service

Even if you have been with sdcu 10yrs, do not ask for a loan. You are better off getting money from somewhere else. The only benefit I see to this institution is early payroll deposit. I do mean early, like 2 days before payday. That is the only thing that keeps me here.



Health

Data for Q4 2013

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 Division Credit Union has a relatively low asset base.

Texas Ratio

GRADE:
A+

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 Division Credit Union had $347,000 in non-current loans and owned real-estate with $5.72 million in equity and loan loss allowances on hand to cover it. This gives South Division Credit Union a Texas Ratio of 6.06% 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 Division Credit Union decreased dramatically from 16.82% as of December 31, 2012 to 6.06% as of December 31, 2013, resulting in a positive change of 63.96%.This indicates that the balance sheet and financial strength for South Division Credit Union has improved dramatically in recent periods.

Deposit Growth

GRADE:
C-

In the past year, South Division Credit Union has decreased its total deposits by -$1.94 million, resulting in -4.11% 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 Division Credit Union has shown is below average.

Capitalization

GRADE:
A

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 Division Credit Union has $50.56 million in assets with $5.72 million in equity, resulting in a capitalization level of 11.32%, which is excellent.

Institution Statistics

Overall
NCUA #65550
Year Chartered1935
Employees17
Primary Regulator
Assets and Liabilities
Assets$50.56 million
Loans$22.89 million
Deposits$45.26 million
Equity Capital$4.57 million
Loan Loss Allowance$1.15 million
Unbacked Noncurrent Loans$215,000
Real Estate Owned$132,000
Historic Data - December 2012
Assets$52.91 million
Equity Capital$4.93 million
Loan Loss Allowance$1.14 million
Unbacked Noncurrent Loans$215,000
Real Estate Owned$370,000
Profit Margin - Quarterly
Net Interest Margin8.3%
Return on Assets-0.96%
Return on Equity-10.63%
Interest Income$2.21 million
Rates

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

South Division Credit Union Savings Account Rates

DetailsAPYMINMAXPRODUCT
0.08%$50k-Primary Savings
0.08%$50k-Club Savings
0.08%$50k-Student's First Savings
0.08%$50k-Kids Club Savings
0.08%$50k-IRA Accounts

South Division Credit Union Money Market Rates

DetailsAPYMINMAXPRODUCT
0.15%$25k-Money Market Account

South Division Credit Union Checking Account Rates

DetailsAPYMINMAXPRODUCT
0.10%-$25kFreedom Green Checking

South Division Credit Union CD Rates

DetailsAPYMINMAXPRODUCT
0.70%$1k-5 Year CD
0.50%$1k-4 Year CD
0.40%$1k-3 Year CD
0.30%$1k-2 Year CD
0.15%$1k-1 Year CD
0.10%$1k-6 Month CD

South Division Credit Union IRA Rates

DetailsAPYMINMAXPRODUCT
0.70%$500-5 Year IRA
0.50%$500-4 Year IRA
0.40%$500-3 Year IRA
0.30%$500-2 Year IRA
0.15%$500-1 Year IRA
0.10%$500-6 Month IRA
Locations


South Division Credit Union Locations
Branch Office820 S Damen AveChicago, IL 60612-3728
Branch Office14740 Cicero AveMidlothian, IL 60445-3173
Branch Office9122 S Kedzie AveEvergreen Park, IL 60805-1605
Branch Office9059 S Kedzie AveEvergreen Park, IL 608051301