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Overview / Commentary
907-523-4777
P.O. Box 34157
Juneau, AK 99803

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

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Health

Data for Q4 2013

Institution Health

B

Texas Ratio

GRADE:
B+

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

GRADE:
C+

The Texas Ratio for True North Credit Union experienced no significant changes 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 had no significant changes in recent periods.

Deposit Growth

GRADE:
B+

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

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. 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 Chartered1948
Employees53
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 Margin4.91%
Return on Assets0.41%
Return on Equity5.49%
Interest Income$5.10 million
Rates

Always verify rates and promotions with the bank or credit union. We are not True North Credit Union, we are a rate comparison website and can not provide official rates or promotions.

True North Credit Union Savings Account Rates

DetailsAPYMINMAXPRODUCT
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

DetailsAPYMINMAXPRODUCT
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

DetailsAPYMINMAXPRODUCT
0.10%$2,500-Express Checking Plus Account
0.10%$2,500-Business Share Draft Account

True North Credit Union CD Rates

DetailsAPYMINMAXPRODUCT
1.05%$500-36 Month CD
0.90%$500-30 Month CD
0.80%$500-24 Month CD
0.75%$50$3,30012 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$3,3006 Month Youth CD
0.50%$500-12 Month CD
0.45%$500-12 Month Summit SingleStep CD
0.45%$50$3,3003 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

DetailsAPYMINMAXPRODUCT
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)
Locations


True North Credit Union Locations
Branch Office2777 Postal WayJuneau, AK 99801
Branch Office240 Main StJuneau, AK 99801-2107
Branch Office341 W Tudor Rd Ste 100Anchorage, AK 99503-6639
Branch Office1211 Cushman StFairbanks, AK 99701-4680
Branch Office2777 Postal WayJuneau, AK 99801