1.5 star ratingAverage User Rating:
1.5 star rating based on 2 reviews.

South Division Credit Union

South Division Credit Union Locations
9122 S. Kedzie
Evergreen Park, IL 60805
708-857-7070
www.sdcu.org

NCUA


South Division Credit Union is headquartered in Evergreen Park and is the 67th largest credit union in the state of Illinois. It is also the 2,194th largest credit union in the nation. It was established in 1935 and as of March of 2013, it had grown to 20 employees and 7,913 members. South Division Credit Union has a 3-star health rating.

Related Posts

South Division Credit Union Fropped Rate Big Time! (Forum) - 10/7/2010

Credit to: Waterd53; but highlight it here: South Division Credit Union dropped rate drastically from 4.01% to 2% (same cap of $25,000) -- already shown in their website. It seems to be the beginning of the end of Reward Checking, with so many

Newly Updated List of the 5 Best Reward Checking Accounts Available Nationwide - 9/8/2010

I last reviewed the 5 best reward checking accounts in July . Since that time, 2 of the 5 banks have fallen off the list. I thought it would be useful to update the list with the ones that still have ...

Five Best Reward Checking Accounts Available Nationwide - 7/21/2010

High-yield reward checking accounts continue to hold up better than internet savings account in this record low interest rate environment. They may have a harder time as new regulations take effect th ...

High-Yield Reward Checking Account at South Division Credit Union in Illinois - Available Nationwide - 11/4/2009

South Division Credit Union is offering a reward checking account called Freedom Green Checking. The account has the following rates and features if certain monthly requirements are met:4.01% APY on balances up to $25,0000.00% on portion of balances...



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

South Division Credit Union Checking Account Rates

ApyMinMaxProduct
0.10%-$25kFreedom Green Checking

South Division Credit Union Savings Account Rates

ApyMinMaxProduct
0.10%$50k-Primary Savings
0.10%$50k-Club Savings
0.10%$50k-Student's First Savings
0.10%$50k-Kids Club Savings
0.10%$50-IRA Accounts

South Division Credit Union Money Market Rates

ApyMinMaxProduct
0.20%$25k-Money Market Account

South Division Credit Union CD Rates

ApyMinMaxProduct
1.20%$1k-5 Year CD
0.90%$1k-4 Year CD
0.75%$1k-3 Year CD
0.55%$1k-2 Year CD
0.35%$1k-1 Year CD
0.20%$1k-6 Month CD

South Division Credit Union IRA Rates

ApyMinMaxProduct
1.20%$500-5 Year IRA
0.90%$500-4 Year IRA
0.75%$500-3 Year IRA
0.55%$500-2 Year IRA
0.35%$500-1 Year IRA
0.20%$500-6 Month IRA

Rates updated: 6/18/2013

Data for Q1 2013


Institution Statistics


SOUTH DIVISION
NCUA #65550
BankRate ReportView
Year Chartered1935
Employees20
Primary Regulator

Assets and Liabilities

Assets$54.95 million
Loans$27.28 million
Deposits$49.19 million
Equity Capital$4.88 million
Loan Loss Allowance$1.28 million
Unbacked Noncurrent Loans$1.09 million
Real Estate Owned$372,000

Historic Data - March 2012

Assets$55.91 million
Equity Capital$5.37 million
Loan Loss Allowance$906,000
Unbacked Noncurrent Loans$935,000
Real Estate Owned$830,000

Profit Margin - Quarterly

Net Interest Margin1.86%
Return on Assets-0.44%
Return on Equity-4.92%
Interest Income$585,000
Non-Interest Income$363,000

Institution Health


Overall Score:
3 out of 5
3
Texas Ratio3
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 March 31, 2013 South Division Credit Union had $1.46 million in non-current loans and owned real-estate with $6.16 million in equity and loan loss allowances on hand to cover it. This gives South Division Credit Union a Texas Ratio of 23.77% which is average. Any bank with a Texas Ratio near or greater than 100% is considered at risk.
Texas Ratio Trend4
The Texas Ratio for South Division Credit Union decreased slightly from 28.13% as of March 31, 2012 to 23.77% as of March 31, 2013, resulting in a positive change of 15.49%.This indicates that the balance sheet and financial strength for South Division Credit Union has improved slightly in recent periods.
Deposit Growth2
In the past year, South Division Credit Union has decreased its total deposits by $-567,000, resulting in -1.14% 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.
Capitalization4
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 $54.95 million in assets with $6.16 million in equity, resulting in a capitalization level of 11.21%, which is above average.
Write Review

Be Careful What You Wish For...
1 stars - Anonymous - Friday, October 8, 2010 - 8:24 AM

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!! 

4

Loan Service
2 stars - Anonymous - Friday, February 11, 2011 - 7:27 PM

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.

1