South Western Credit Union is headquartered in La Habra and is the 132nd largest credit union in the state of California. It is also the 1,228th largest credit union in the nation. It was established in 1937 and as of December of 2013, it had grown to 38 employees and 11,263 members. South Western Credit Union has a B health rating.
Field of Membership Restrictions
Must live, work, attend school or worship in Whittier, Santa Fe Springs, La Habra Heights, Pico Rivera, Los Nietos or selected portion of La Mirada. Also open to employees of several selected employer groups. - See Details
Data for Q4 2013
Institution Health
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, 2013 South Western Credit Union had $461,000 in non-current loans and owned real-estate with $10.41 million in equity and loan loss allowances on hand to cover it. This gives South Western Credit Union a Texas Ratio of 4.43% which is excellent. Any bank with a Texas Ratio near or greater than 100% is considered at risk.
Texas Ratio Trend
The Texas Ratio for South Western Credit Union experienced no significant changes from 3.24% as of December 31, 2012 to 4.43% as of December 31, 2013, resulting in a negative change of 36.83%. This indicates that the balance sheet and financial strength for South Western Credit Union has had no significant changes in recent periods.
Deposit Growth
In the past year, South Western Credit Union has decreased its total deposits by -$3.39 million, resulting in -3.03% 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 Western Credit Union has shown is below average.
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. South Western Credit Union has $131.94 million in assets with $10.41 million in equity, resulting in a capitalization level of 7.89%, which is below average.
Institution Statistics
| Overall | |
|---|---|
| NCUA # | 1955 |
| Year Chartered | 1937 |
| Employees | 38 |
| Primary Regulator |
| Assets and Liabilities | |
|---|---|
| Assets | $131.94 million |
| Loans | $46.11 million |
| Deposits | $108.75 million |
| Equity Capital | $10.13 million |
| Loan Loss Allowance | $276,000 |
| Unbacked Noncurrent Loans | $461,000 |
| Real Estate Owned | $0 |
| Historic Data - December 2012 | |
|---|---|
| Assets | $138.76 million |
| Equity Capital | $11.66 million |
| Loan Loss Allowance | $693,000 |
| Unbacked Noncurrent Loans | $461,000 |
| Real Estate Owned | $0 |
| Profit Margin - Quarterly | |
|---|---|
| Net Interest Margin | 5.22% |
| Return on Assets | -0.48% |
| Return on Equity | -6.28% |
| Interest Income | $4.20 million |
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South Western Credit Union Savings Account Rates
| Details | APY | MIN | MAX | PRODUCT |
|---|---|---|---|---|
| 0.05% | $500 | - | Share Account | |
| 0.05% | $500 | - | IRA | |
| 0.05% | $500 | - | Looney Tunes/Kid Club Savings | |
| 0.05% | $500 | - | First Step Savings | |
| 0.05% | $500 | - | Extra Step Savings | |
| 0.05% | $500 | - | Next Step Savings |
South Western Credit Union Money Market Rates
| Details | APY | MIN | MAX | PRODUCT |
|---|---|---|---|---|
| 0.15% | $50k | - | Money Market |
South Western Credit Union Checking Account Rates
| Details | APY | MIN | MAX | PRODUCT |
|---|---|---|---|---|
| 0.05% | $25 | - | Regular Checking | |
| 0.05% | $25 | - | Direct Deposit Checking | |
| 0.05% | $25 | - | Next Step Checking | |
| 0.05% | $25 | - | First Step Checking | |
| 0.05% | $25 | - | Extra Step Checking |
South Western Credit Union CD Rates
| Details | APY | MIN | MAX | PRODUCT |
|---|---|---|---|---|
| 0.60% | $500 | - | 5 Year CD | |
| 0.60% | $50k | - | 5 Year Jumbo CD | |
| 0.51% | $250 | - | 3 Year Money Tree CD | |
| 0.50% | $500 | - | 3 Year CD | |
| 0.50% | $50k | - | 3 Year Jumbo CD | |
| 0.30% | $500 | - | 2 Year CD | |
| 0.30% | $50k | - | 2 Year Jumbo CD | |
| 0.20% | $500 | - | 1 Year CD | |
| 0.20% | $50k | - | 1 Year Jumbo CD | |
| 0.15% | $500 | - | 6-11 Month CD | |
| 0.15% | $50k | - | 6-11 Month Jumbo CD | |
| 0.10% | $500 | - | 3 Month CD |
South Western Credit Union IRA Rates
| Details | APY | MIN | MAX | PRODUCT |
|---|---|---|---|---|
| 0.60% | $500 | - | 5 Year Traditional IRA (Traditional,Roth) | |
| 0.60% | $100k | - | 5 Year Jumbo IRA (Traditional,Roth) | |
| 0.50% | $500 | - | 3 Year Traditional IRA (Traditional,Roth) | |
| 0.50% | $100k | - | 3 Year Jumbo IRA (Traditional,Roth) | |
| 0.30% | $500 | - | 2 Year Traditional IRA (Traditional,Roth) | |
| 0.30% | $100k | - | 2 Year Jumbo IRA (Traditional,Roth) | |
| 0.20% | $500 | - | 1 Year Traditional IRA (Traditional,Roth) | |
| 0.20% | $100k | - | 1 Year Jumbo IRA (Traditional,Roth) |
| South Western Credit Union Locations | ||
|---|---|---|
| Branch Office | 11749 Whittier Blvd | Whittier, CA 90601-3939 |
| Branch Office | 901 E Whittier Blvd | La Habra, CA 90631 |