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Overview / Commentary
509-484-5650
2002 N Atlantic St
Spokane, WA 99205

Spokane Firefighters Credit Union is headquartered in Spokane and is the 64th largest credit union in the state of Washington. It is also the 2,536th largest credit union in the nation. It was established in 1934 and as of March of 2014, it had grown to 9 employees and 2,004 members. Spokane Firefighters Credit Union's savings rates are 92% higher than the national average, and it has a B health rating.

Field of Membership Restrictions

Must be an active or retired firefighter of the Spokane Fire Department or Spokane Valley Fire Department. - See Details

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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. Spokane Firefighters Credit Union has a 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 Spokane Firefighters Credit Union had $765,000 in non-current loans and owned real-estate with $7.24 million in equity and loan loss allowances on hand to cover it. This gives Spokane Firefighters Credit Union a Texas Ratio of 10.57% which is excellent. Any bank with a Texas Ratio near or greater than 100% is considered at risk.

Texas Ratio Trend

GRADE:
C+

The Texas Ratio for Spokane Firefighters Credit Union experienced no significant changes from 7.27% as of March 31, 2013 to 10.57% as of March 31, 2014, resulting in a negative change of 45.36%. This indicates that the balance sheet and financial strength for Spokane Firefighters Credit Union has had no significant changes in recent periods.

Deposit Growth

GRADE:
C+

In the past year, Spokane Firefighters Credit Union has decreased its total deposits by $-43,000, resulting in -0.12% 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 Spokane Firefighters Credit Union has shown is 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. Spokane Firefighters Credit Union has $41.81 million in assets with $7.24 million in equity, resulting in a capitalization level of 17.31%, which is excellent.

Institution Statistics

Overall
NCUA #68205
Year Chartered1934
Employees9
Primary Regulator
Assets and Liabilities
Assets$41.81 million
Loans$20.85 million
Deposits$34.42 million
Equity Capital$7.05 million
Loan Loss Allowance$181,000
Unbacked Noncurrent Loans$365,000
Real Estate Owned$400,000
Historic Data - March 2013
Assets$41.75 million
Equity Capital$6.82 million
Loan Loss Allowance$147,000
Unbacked Noncurrent Loans$365,000
Real Estate Owned$400,000
Profit Margin - Quarterly
Net Interest Margin1.01%
Return on Assets0.41%
Return on Equity2.44%
Interest Income$298,000
Rates
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Spokane Firefighters Credit Union Savings Account Rates

DetailsAPYMINMAXPRODUCT
1.00%--Platinum IRA
0.90%--Gold IRA
0.75%--Essential and Silver IRA
0.35%$25k-Regular Share Acccounts

Spokane Firefighters Credit Union Checking Account Rates

DetailsAPYMINMAXPRODUCT
0.10%$1k-Share Drafts

Spokane Firefighters Credit Union CD Rates

DetailsAPYMINMAXPRODUCT
1.41%$25k-48 Month CD
1.26%$25k-36 Month CD
1.11%$25k-24 Month CD
0.70%$25k-12 Month CD
0.50%$25k-6 Month CD
Locations


Spokane Firefighters Credit Union Locations
Branch Office2002 N Atlantic StSpokane, WA 99205-4805