Tongass Credit Union

Tongass Credit Union Locations
2000 Tongass Avenue
Ketchikan, AK 99901
1-800-960-8328
www.tongassfcu.com

Tongass Credit Union is headquartered in KETCHIKAN and is the 9th largest credit union in the state of Alaska. It is also the 2,035th largest credit union in the nation. It was established in 1963 and as of December of 2011, it had grown to 27 employees and 6,402 members. Tongass Credit Union has a 4-star health rating.



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See Rates for: Savings | Money Market | CD | IRA

Tongass Credit Union Savings Account Rates

ApyMinMaxProduct
0.30%--IRA Share Account
0.30%--Roth IRA Share Account
0.30%--Coverdell ESA Share Account
0.30%--SEP IRA Share Account
0.20%--Regular Share Savings Account
0.20%--Health Savings Account

Tongass Credit Union Money Market Rates

ApyMinMaxProduct
0.28%$25k-Money Market Account

Tongass Credit Union CD Rates

ApyMinMaxProduct
2.00%$500-60 Month Share Certificate
1.70%$500-48 to 59 Month Share Certificate
1.40%$500-36 to 47 Month Share Certificate
1.10%$500-24 to 35 Month Share Certificate
0.80%-$2,5001 Month Savings Builder Certificate
0.80%$500-12 to 23 Month Share Certificate
0.35%$500-180 - 364 Day Share Certificate
0.25%$500-90 - 179 Day Share Certificate

Tongass Credit Union IRA Rates

ApyMinMaxProduct
2.10%--60 Month IRA
2.10%--60 Month Roth IRA
2.10%--60 Month Coverdell ESA
2.10%--60 Month SEP IRA
1.50%--36 to 59 Month IRA
1.50%--36 to 59 Month Roth IRA
1.50%--36 to 59 Month Coverdell ESA
1.50%--36 to 59 Month SEP IRA
1.20%--24 to 35 Month IRA
1.20%--24 to 35 Month Roth IRA
1.20%--24 to 35 Month Coverdell ESA
1.20%--24 to 35 Month SEP IRA
0.90%--12 to 23 Month IRA
0.90%--12 to 23 Month Roth IRA
0.90%--12 to 23 Month Coverdell ESA
0.90%--12 to 23 Month SEP IRA

Rates updated: 5/26/2012

Data for Q4 2011


Institution Statistics


TONGASS
NCUA #15523
BankRate ReportView
Year Chartered1963
Employees27
Primary Regulator

Assets and Liabilities

Assets$58.59 million
Loans$33.41 million
Deposits$52.76 million
Equity Capital$3.83 million
Loan Loss Allowance$125,000
Unbacked Noncurrent Loans$427,000

Historic Data - December 2010

Assets$52.86 million
Equity Capital$3.65 million
Loan Loss Allowance$97,000
Unbacked Noncurrent Loans$120,000

Profit Margin - Quarterly

Net Interest Margin5.76%
Return on Assets0.31%
Return on Equity4.75%
Interest Income$2.52 million
Non-Interest Income$904,000

Institution Health


Overall Score:
4 out of 5
4
Texas Ratio4
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, 2011 Tongass Credit Union had $427,000 in non-current loans and owned real-estate with $3.95 million in equity and loan loss allowances on hand to cover it. This gives Tongass Credit Union a Texas Ratio of 10.80% which is above average. Any bank with a Texas Ratio near or greater than 100% is considered at risk.
Texas Ratio Trend2
The Texas Ratio for Tongass Credit Union increased slightly from 3.21% as of December 31, 2010 to 10.80% as of December 31, 2011, resulting in a negative change of 236.93%. This indicates that the balance sheet and financial strength for Tongass Credit Union has declined slightly in recent periods.
Deposit Growth5
In the past year, Tongass Credit Union has increased its total deposits by $5.7 million, resulting in 12.12% 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 Tongass Credit Union has shown is excellent.
Capitalization2
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. Tongass Credit Union has $58.59 million in assets with $3.95 million in equity, resulting in a capitalization level of 6.75%, which is below average.
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