True North Credit Union
True North Credit Union is headquartered in Juneau and is the 6th largest credit union in the state of Alaska. It is also the 1,284th largest credit union in the nation. It was established in 1948 and as of December of 2013, it had grown to 53 employees and 10,883 members. True North Credit Union has a B health rating.
Field of Membership Restrictions
Must be an employee or retiree of the state of Alaska or be an employee of several other companies. Also open to those who live, work, worship or attend school in the Alaska Panhandle, the Northern rural Alaska or the Southeast rural Alaska. - See Details
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 True North Credit Union had $1.1 million in non-current loans and owned real-estate with $9.74 million in equity and loan loss allowances on hand to cover it. This gives True North Credit Union a Texas Ratio of 11.25% 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 True North Credit Union held steady from 11.73% as of December 31, 2012 to 11.25% as of December 31, 2013, resulting in a positive change of 4.06%.This indicates that the balance sheet and financial strength for True North Credit Union has held steady in recent periods.
Deposit Growth
In the past year, True North Credit Union has increased its total deposits by $2.71 million, resulting in 2.43% 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 True North 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. True North Credit Union has $124.69 million in assets with $9.74 million in equity, resulting in a capitalization level of 7.81%, which is below average.
Institution Statistics
| Overall | |
|---|---|
| NCUA # | 5892 |
| Year Chartered | 1948 |
| Employees | 53 |
| Primary Regulator |
| Assets and Liabilities | |
|---|---|
| Assets | $124.69 million |
| Loans | $92.00 million |
| Deposits | $114.19 million |
| Equity Capital | $9.26 million |
| Loan Loss Allowance | $477,000 |
| Unbacked Noncurrent Loans | $1.00 million |
| Real Estate Owned | $93,000 |
| Historic Data - December 2012 | |
|---|---|
| Assets | $121.81 million |
| Equity Capital | $8.85 million |
| Loan Loss Allowance | $500,000 |
| Unbacked Noncurrent Loans | $1.00 million |
| Real Estate Owned | $434,000 |
| Profit Margin - Quarterly | |
|---|---|
| Net Interest Margin | 4.91% |
| Return on Assets | 0.41% |
| Return on Equity | 5.49% |
| Interest Income | $5.10 million |
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True North Credit Union Savings Account Rates
| Details | APY | MIN | MAX | PRODUCT |
|---|---|---|---|---|
| 0.15% | $100 | - | Traditional IRA Share Account | |
| 0.15% | $100 | - | Sep IRA Share Account | |
| 0.15% | $100 | - | Roth IRA Share Account | |
| 0.15% | $100 | - | Education IRA Share Account | |
| 0.10% | - | - | Regular Share Account | |
| 0.10% | $50 | - | Business Share Savings Account |
True North Credit Union Money Market Rates
| Details | APY | MIN | MAX | PRODUCT |
|---|---|---|---|---|
| 0.30% | $100k | - | Money Market Savings | |
| 0.30% | $100k | - | Jumbo Money Market Savings | |
| 0.30% | $100k | - | Business Money Market Savings |
True North Credit Union Checking Account Rates
| Details | APY | MIN | MAX | PRODUCT |
|---|---|---|---|---|
| 0.10% | $2,500 | - | Express Checking Plus Account | |
| 0.10% | $2,500 | - | Business Share Draft Account |
True North Credit Union CD Rates
| Details | APY | MIN | MAX | PRODUCT |
|---|---|---|---|---|
| 1.05% | $500 | - | 36 Month CD | |
| 0.90% | $500 | - | 30 Month CD | |
| 0.80% | $500 | - | 24 Month CD | |
| 0.75% | $50 | $3,300 | 12 Month Youth CD | |
| 0.70% | $500 | - | 24 Month Summit Dual Step CD | |
| 0.65% | $500 | - | 18 Month CD | |
| 0.60% | $500 | - | 18 Month Summit SingleStep CD | |
| 0.55% | $50 | $3,300 | 6 Month Youth CD | |
| 0.50% | $500 | - | 12 Month CD | |
| 0.45% | $500 | - | 12 Month Summit SingleStep CD | |
| 0.45% | $50 | $3,300 | 3 Month Youth CD | |
| 0.30% | $500 | - | 6 Month CD | |
| 0.20% | $500 | - | 3 Month CD | |
| 0.15% | $2,500 | - | 30 Day Short & Sweet CD |
True North Credit Union IRA Rates
| Details | APY | MIN | MAX | PRODUCT |
|---|---|---|---|---|
| 1.10% | $500 | - | 36 Month Traditional IRA (Traditional,Roth,CESA,SEP) | |
| 0.95% | $500 | - | 30 Month Traditional IRA (Traditional,Roth,CESA,SEP) | |
| 0.85% | $500 | - | 24 Month Traditional IRA (Traditional,Roth,CESA,SEP) | |
| 0.70% | $500 | - | 18 Month Traditional IRA (Traditional,Roth,CESA,SEP) | |
| 0.55% | $500 | - | 12 Month Traditional IRA (Traditional,Roth,CESA,SEP) | |
| 0.35% | $500 | - | 6 Month Traditional IRA (Traditional,Roth,CESA,SEP) |
| True North Credit Union Locations | ||
|---|---|---|
| Branch Office | 2777 Postal Way | Juneau, AK 99801 |
| Branch Office | 240 Main St | Juneau, AK 99801-2107 |
| Branch Office | 341 W Tudor Rd Ste 100 | Anchorage, AK 99503-6639 |
| Branch Office | 1211 Cushman St | Fairbanks, AK 99701-4680 |
| Branch Office | 2777 Postal Way | Juneau, AK 99801 |