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877-642-0128
3840 Pearl Rd
Cleveland, OH 44109

Steel Valley Credit Union is headquartered in CLEVELAND and is the 106th largest credit union in the state of Ohio. It is also the 2,468th largest credit union in the nation. It was established in 1966 and as of December of 2013, it had grown to 28 employees and 9,929 members. Steel Valley Credit Union has a B health rating.

Field of Membership Restrictions

Works at one of our select employee sponsors. Retired from one of our select employee sponsors. Lives and Worships in Cleveland, Lakewood and other community listed in site. - See Details

Reviews (1)

Worst Nightmare From Hell Credit Union I Have Ever Experienced

I believe larry ,curly , and moe have more common sense of how to run a credit union!!!,They cant even get the title transfered right,I wasted multiple trips driving to cleveland, only to find out that I needed to "pay" for a duplicate copy of my title in my own town, because the releasing loan company electronically sends the title to the title office and Steele Valley never had a second power of attorney release signed to take care of that part of the transaction.  (The title office said that that specific loan company "always" does it that way and they should have known that.)  In the mean time I am having to borrow a car to drive to work daily because my 30 day tag expired and I could not get my plates without the title.  My 3 year old could run an office more efficiently.  I wasted a lot of time placing multiple calls only to be ignored, with no answer at all or transferred to another extension leaving a message that was NEVER returned.  The worst is yet to come.  After wasting a month of running around, getting the run around, and paying out more money than I should have had to, I finally got my plates and thought the rest would go as planned.  NOT!!!!!  Now I have received a notice that I have a misse payment and a late fee, when I have direct deposit set up through my employer, which has been taken out faithfully, they are to be deducting the payments automatically, and through their own incompetance, they have NOT paid themselves.  The should be taking out my payments bi-weekly and they are only taking them out monthly, shorting themselves and blaming me and sending me notices of non-payment and late fees. TALK ABOUT STUPIDITY!!!!!  I got this loan to establish credit for myself with this company and now I could be destroying it instead with Steele Valley because of their own stupidity of not paying themselves properly - bi-weekly.  I would not recommend Steele Valley to Satin, this hell would be too much for even him.



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. Steel Valley Credit Union has a 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 Steel Valley Credit Union had $303,000 in non-current loans and owned real-estate with $3.55 million in equity and loan loss allowances on hand to cover it. This gives Steel Valley Credit Union a Texas Ratio of 8.53% 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 Steel Valley Credit Union decreased dramatically from 12.34% as of December 31, 2012 to 8.53% as of December 31, 2013, resulting in a positive change of 30.89%.This indicates that the balance sheet and financial strength for Steel Valley Credit Union has improved dramatically in recent periods.

Deposit Growth

GRADE:
B+

In the past year, Steel Valley Credit Union has increased its total deposits by $564,000, resulting in 1.43% 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 Steel Valley Credit Union has shown is above average.

Capitalization

GRADE:
C

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. Steel Valley Credit Union has $42.66 million in assets with $3.55 million in equity, resulting in a capitalization level of 8.33%, which is average.

Institution Statistics

Overall
NCUA #17555
Year Chartered1966
Employees28
Primary Regulator
Assets and Liabilities
Assets$42.66 million
Loans$38.80 million
Deposits$39.99 million
Equity Capital$2.12 million
Loan Loss Allowance$1.44 million
Unbacked Noncurrent Loans$300,000
Real Estate Owned$3,000
Historic Data - December 2012
Assets$42.81 million
Equity Capital$3.10 million
Loan Loss Allowance$389,000
Unbacked Noncurrent Loans$300,000
Real Estate Owned$167,000
Profit Margin - Quarterly
Net Interest Margin7.9%
Return on Assets-2.39%
Return on Equity-48.27%
Interest Income$3.30 million
Rates
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Steel Valley Credit Union Savings Account Rates

DetailsAPYMINMAXPRODUCT
0.10%$250-Regular Share Account
0.10%$250-Club Account

Steel Valley Credit Union Money Market Rates

DetailsAPYMINMAXPRODUCT
0.40%$50k-Money Market Account
0.40%$50k-IRA Money Market Account

Steel Valley Credit Union CD Rates

DetailsAPYMINMAXPRODUCT
1.26%$500-60 Month CD
0.60%$500-48 Month CD
0.50%$500-36 Month CD
0.35%$500-24 Month CD
0.30%$500-18 Month CD
0.25%$500-12 Month CD
0.20%$500-6 Month CD
0.15%$500-3 Month CD

Steel Valley Credit Union IRA Rates

DetailsAPYMINMAXPRODUCT
1.26%$500-60 Month IRA
0.60%$500-48 Month IRA
0.50%$500-36 Month IRA
0.35%$500-24 Month IRA
0.30%$500-18 Month IRA
0.25%$500-12 Month IRA
0.20%$500-6 Month IRA
0.15%$500-3 Month IRA
Locations


Steel Valley Credit Union Locations
Branch Office2016 McMyler St NWWarren, OH 44485-2615
Branch Office17401 Holland RdBrook Park, OH 44142
Branch Office34900 Lake Shore BlvdEastlake, OH 44095-3575
Branch Office40 Severance CirCleveland Heights, OH 44118-1501
Branch Office3840 Pearl RdCleveland, OH 44109-2751
Branch Office12223 Madison AveLakewood, OH 44107-5029
Branch Office2500 Metrohealth DrCleveland, OH 44109-1900