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309-766-6001
1 State Farm Plz SB-1
Bloomington, IL 61710-0001

State Farm Credit Union is headquartered in Bloomington and is the 3rd largest credit union in the state of Illinois. It is also the 31st largest credit union in the nation. It was established in 1936 and as of March of 2014, it had grown to 135 employees and 131,510 members. State Farm Credit Union's savings rates are 54% higher than the national average, and it has a A health rating.

Field of Membership Restrictions

Membership in the State Farm Credit Union is open to all U.S. State Farm employees, agents, retirees, and certain members of their immediate families. - See Details

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Health

Data for Q1 2014

Institution Health

A

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 State Farm Credit Union had $2.98 million in non-current loans and owned real-estate with $460.24 million in equity and loan loss allowances on hand to cover it. This gives State Farm Credit Union a Texas Ratio of 0.65% 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 State Farm Credit Union experienced no significant changes from 0.66% as of March 31, 2013 to 0.65% as of March 31, 2014, resulting in a positive change of 2.07%.This indicates that the balance sheet and financial strength for State Farm Credit Union has had no significant changes in recent periods.

Deposit Growth

GRADE:
B+

In the past year, State Farm Credit Union has increased its total deposits by $43.3 million, resulting in 1.25% 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 State Farm Credit Union has shown is above 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. State Farm Credit Union has $3.95 billion in assets with $460.24 million in equity, resulting in a capitalization level of 11.65%, which is excellent.

Institution Statistics

Overall
NCUA #1273
Year Chartered1936
Employees135
Primary Regulator
Assets and Liabilities
Assets$3.95 billion
Loans$841.49 million
Deposits$3.49 billion
Equity Capital$456.05 million
Loan Loss Allowance$4.19 million
Unbacked Noncurrent Loans$2.98 million
Real Estate Owned$0
Historic Data - March 2013
Assets$3.90 billion
Equity Capital$450.45 million
Loan Loss Allowance$3.73 million
Unbacked Noncurrent Loans$2.98 million
Real Estate Owned$0
Profit Margin - Quarterly
Net Interest Margin0.83%
Return on Assets0.52%
Return on Equity4.54%
Interest Income$13.66 million
Rates
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State Farm Credit Union Savings Account Rates

DetailsAPYMINMAXPRODUCT
0.80%--Share Savings Account
0.80%--IRA Savings Account
0.70%--E-Shares
Locations

State Farm Credit Union has 23 locations. Click to view all State Farm Credit Union locations.