Taylor Credit Union is headquartered in Medford and is the 68th largest credit union in the state of Wisconsin. It is also the 2,280th largest credit union in the nation. It was established in 1951 and as of December of 2013, it had grown to 19 employees and 7,477 members. Taylor Credit Union has a B health rating.
Field of Membership Restrictions
Must live or work in Taylor, Price, Lincoln, Marathon or Clark County or within a 25-mile radius of Medford. - See Details
Works For Me
When I graduated from high school I figured it was time to open both a checking and a savings account (as well as getting a debit card) at a local bank or credit union, I choose Taylor Credit Union, because it was the institution that my older brothers and sisters have always used.
What I like about Taylor Credit Union:
You can use their MOMM system to make banking decisions through your phone, or you can use their DADD system to make banking decision through your computer. I use the MOMM system to check my account balances quite a bit and it comes in very handy.
I feel that they are trustworthy, as I have never had any type of problem with them, and I have never heard of anyone who has.
What I don't like about Taylor Credit Union:
The employees, at least all the ones that I have experienced, are not friendly. That makes visiting the Credit Union uncomfortable.
They do not offer any reward programs, that I know of, for using my debit card.
My conclusion:
Overall, Taylor Credit Union is an okay institution if you live in the area and don't have many options. I don't recommend it, but I don't not recommend it either.
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 Taylor Credit Union had $688,000 in non-current loans and owned real-estate with $6.16 million in equity and loan loss allowances on hand to cover it. This gives Taylor Credit Union a Texas Ratio of 11.18% which is above average. Any bank with a Texas Ratio near or greater than 100% is considered at risk.
Texas Ratio Trend
The Texas Ratio for Taylor Credit Union decreased slightly from 12.83% as of December 31, 2012 to 11.18% as of December 31, 2013, resulting in a positive change of 12.87%.This indicates that the balance sheet and financial strength for Taylor Credit Union has improved slightly in recent periods.
Deposit Growth
In the past year, Taylor Credit Union has increased its total deposits by $727,000, resulting in 1.7% 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 Taylor Credit Union has shown is above 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. Taylor Credit Union has $49.6 million in assets with $6.16 million in equity, resulting in a capitalization level of 12.41%, which is excellent.
Institution Statistics
| Overall | |
|---|---|
| NCUA # | 66388 |
| Year Chartered | 1951 |
| Employees | 19 |
| Primary Regulator |
| Assets and Liabilities | |
|---|---|
| Assets | $49.60 million |
| Loans | $29.50 million |
| Deposits | $43.51 million |
| Equity Capital | $5.92 million |
| Loan Loss Allowance | $240,000 |
| Unbacked Noncurrent Loans | $383,000 |
| Real Estate Owned | $305,000 |
| Historic Data - December 2012 | |
|---|---|
| Assets | $48.57 million |
| Equity Capital | $5.67 million |
| Loan Loss Allowance | $265,000 |
| Unbacked Noncurrent Loans | $383,000 |
| Real Estate Owned | $150,000 |
| Profit Margin - Quarterly | |
|---|---|
| Net Interest Margin | 5.17% |
| Return on Assets | 0.5% |
| Return on Equity | 4.16% |
| Interest Income | $1.75 million |
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Taylor Credit Union Savings Account Rates
| Details | APY | MIN | MAX | PRODUCT |
|---|---|---|---|---|
| 0.20% | - | - | Christmas Club Account | |
| 0.15% | - | - | Primary Saving Account | |
| 0.15% | - | - | Funeral Trust Account |
Taylor Credit Union Money Market Rates
| Details | APY | MIN | MAX | PRODUCT |
|---|---|---|---|---|
| 0.40% | $25k | - | Money Market Account |
Taylor Credit Union Checking Account Rates
| Details | APY | MIN | MAX | PRODUCT |
|---|---|---|---|---|
| 0.10% | - | - | Traditional Share Draft Account | |
| 0.10% | - | - | Traditional checking Account | |
| 0.10% | - | - | Royale Share Draft Account | |
| 0.10% | - | - | Royale Checking Account | |
| 0.10% | - | - | Organization ShareDraft Account | |
| 0.10% | - | - | Business ShareDraft Account | |
| 0.10% | - | - | Organization Checking Account | |
| 0.10% | - | - | Business Checking Account |
Taylor Credit Union CD Rates
| Details | APY | MIN | MAX | PRODUCT |
|---|---|---|---|---|
| 1.41% | $10k | - | 48 Month CD | |
| 1.21% | $10k | - | 36 Month CD | |
| 0.85% | $10k | - | 24 Month CD | |
| 0.55% | $10k | - | 12 Month CD | |
| 0.55% | $10k | - | 18 Month CD | |
| 0.40% | $10k | - | 6 Month CD | |
| 0.20% | $2,500 | - | 3 Month CD |
Taylor Credit Union IRA Rates
| Details | APY | MIN | MAX | PRODUCT |
|---|---|---|---|---|
| 1.41% | $10k | - | 48 Month IRA (Traditional,Roth) | |
| 1.21% | $10k | - | 36 Month IRA (Traditional,Roth) | |
| 1.15% | $500 | - | 48 Month Education IRA | |
| 0.85% | $10k | - | 24 Month IRA (Traditional,Roth) | |
| 0.80% | $500 | - | 36 Month Education IRA | |
| 0.55% | $10k | - | 12 Month IRA (Traditional,Roth) | |
| 0.55% | $500 | - | 24 Month Education IRA | |
| 0.30% | $500 | - | 12 Month Education IRA | |
| 0.25% | - | - | Traditional IRA (Traditional,SEP) | |
| 0.25% | - | - | Roth IRA | |
| 0.25% | - | - | Coverdell Education Share IRA |
| Taylor Credit Union Locations | ||
|---|---|---|
| Branch Office | 825 E Allman St | Medford, WI 54451 |
| Branch Office | 310 S 4th St | Abbotsford, WI 54405 |
| Branch Office | 509 Clark St | Medford, WI 54451 |
| Branch Office | 420 Lincoln St | Medford, WI 54451 |
| Branch Office | 215 S Washington Ave | Medford, WI 54451 |
| Branch Office | 510 W Hemlock St | Abbotsford, WI 54405-9730 |