Sussex County Credit Union is headquartered in Seaford and is the 3rd largest credit union in the state of Delaware. It is also the 793rd largest credit union in the nation. It was established in 1959 and as of March of 2014, it had grown to 57 employees and 14,839 members. Sussex County Credit Union's savings rates are 2X the national average, and it has a A health rating.
Must live, work, attend school or worship in Sussex County or the City of Milford, Delaware. A business may qualify for membership if it is located in or maintains a facility in Sussex County or the City of Milford. An organization (clubs, associations, teams, etc.) may also qualify. - See Details
The security the bank uses to protect its customers has consistently been lacking. In the past 2 or 3 years both of my parent's credit card's have been stolen from the bank. It was relatively easy to fix but was aggravating that the problem happened in the first place. I do not have a credit card here, so I have had no problem with it being stolen. The bank is also trying to shift to automated banking which I do not like. They do however have a free coin counter in their Millsboro location on Route 24.
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 Sussex County Credit Union had $2.64 million in non-current loans and owned real-estate with $35.55 million in equity and loan loss allowances on hand to cover it. This gives Sussex County Credit Union a Texas Ratio of 7.42% which is excellent. Any bank with a Texas Ratio near or greater than 100% is considered at risk.
The Texas Ratio for Sussex County Credit Union decreased slightly from 9.11% as of March 31, 2013 to 7.42% as of March 31, 2014, resulting in a positive change of 18.56%.This indicates that the balance sheet and financial strength for Sussex County Credit Union has improved slightly in recent periods.
In the past year, Sussex County Credit Union has increased its total deposits by $500,000, resulting in 0.23% 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 Sussex County Credit Union has shown is above average.
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. Sussex County Credit Union has $252.8 million in assets with $35.55 million in equity, resulting in a capitalization level of 14.06%, which is excellent.
|Assets and Liabilities|
|Equity Capital||$33.99 million|
|Loan Loss Allowance||$1.56 million|
|Unbacked Noncurrent Loans||$1.70 million|
|Real Estate Owned||$936,000|
|Historic Data - March 2013|
|Equity Capital||$34.32 million|
|Loan Loss Allowance||$2.07 million|
|Unbacked Noncurrent Loans||$1.70 million|
|Real Estate Owned||$695,000|
|Profit Margin - Quarterly|
|Net Interest Margin||1.22%|
|Return on Assets||1%|
|Return on Equity||7.41%|
|Interest Income||$2.19 million|
Always verify rates and promotions with the bank or credit union. We are not Sussex County Credit Union, we are a rate comparison website and can not provide official rates or promotions.
|1.26%||-||-||Kids Club Account|
|1.14%||-||-||Personal Pension Account|
|0.90%||-||-||Roth IRA Account|
|0.55%||$100k||-||Savings Club Account|
|0.20%||-||-||Prime Share Account|
|0.20%||-||-||Holiday Club Account|
|1.51%||$1k||-||60 Month Share Certificate|
|0.75%||$1k||-||36 Month Share Certificate|
|0.70%||$1k||-||12 Month Checking Relationship Share Certificate|
|0.55%||$1k||-||24 Month Share Certificate|
|0.50%||$1k||-||6 Month Savings Builder Certificate|
|0.45%||$1k||-||12 Month Share Certificate|
|0.25%||$1k||-||6 Month Share Certificate|
|0.25%||$1k||-||9 Month Share Certificate|
|1.51%||$1k||-||60 Month IRA|
|0.75%||$1k||-||36 Month IRA|
|0.70%||$1k||-||12 Month Checking Relationship IRA|
|0.55%||$1k||-||24 Month IRA|
|0.45%||$1k||-||12 Month IRA|
|0.25%||$1k||-||6 Month IRA|
|0.25%||$1k||-||9 Month IRA|
|Sussex County Credit Union Locations|
|Branch Office||34686 Old Postal Ln||Lewes, DE 19958|
|Branch Office||100 Main St||Millsboro, DE 19966|
|Branch Office||140 Aerenson Dr||Milford, DE 19963|
|Branch Office||1941 Bridgeville Hwy||Seaford, DE 19973|