University of Iowa Community Credit Union is headquartered in IOWA CITY and is the 2nd largest credit union in the state of Iowa. It is also the 67th largest credit union in the nation. It was established in 1938 and as of December of 2013, it had grown to 267 employees and 111,706 members. University of Iowa Community Credit Union's money market rates are 2X the national average, and it has a B health rating.
Membership is open to anyone living or working in select counties in Iowa. - See Details
While the U of Iowa Credit Union currently has some of the best rates available for their Rewards Checking account, beware of all of the hoops they make you jump through to get that rate. One of the many stipulations is using the account's debit card 12 times a month (a reasonable request). However, I've now been burned twice by slow posting transactions that mysteriously happen at the end of the month. This is blamed on the merchant of course, despite the fact that the credit union processes the funds hold the moment the card is swiped. Their customer service rep actually credited the lost interest to my account the first time this happened about a year ago. Unfortunately, the customer service rep I encountered this time was rude, snappy and lectured me about how the banking system works (thanks, but I have Google too). Therefore I decided to exercise what little power we consumers have and am sharing this experience with you in the hope that it might help someone else. Bottom line if you have a U of I rewards checking account (or two in my case), make sure your 12 transactions have posted prior to the end of the month so your great rate doesn't drop to near zero for that month.
I would give the account 5 stars for the rate, one star for the Byzantine requirements to get that rate and two stars for the sad state of their customer service, which used to be stellar. At least they picked up the phone quickly.
I've been with UICCU ever since I was in school at the University back in '03. The rate on the Rewards Checking has been great, usually the highest I can find anywhere, and I don't feel that what they ask to get the rate is unreasonable. The paperless statements are also less hassle, and the direct deposit was something I wanted anyway. I have been burned by the slow posting transactions before as well, but was given the interest after explaining the situation. The second time, it was simply because I had forgotten to use the card enough times, and I can hardly blame that on them (although I was unaware of the $5 minimum average). I've been MORE than happy with the service that I've received as a customer and have kept my money at UICCU despite the fact that I no longer even live in Iowa City.
5* for still one of the best rates; 0* for innumberable hoops that they make you jump through to get it. Like one other poster, I got burned the first time for late posting of one transaction (they grudgingly made good on the interest that month); the second time I got burned because of one small Debit Card charge; I had 12 ATM Debits > $5 but I didn't realize that the 13th transaction, being of small amount, brought the average of 13 ATM Debit transactions down below $5 ($4.98) (I would have made it if I had done only the twelve transactions!). For crying out loud, I have a Phd in CSE but I cannot keep up with these horrendous requirements and this slow learning-by-getting-burned every month. I may not be able to pull my money out immediately due to their CD bonus rate but this is definitely a royal PITA. The first chance I get I am moving my money out!
Great account! Includes a best Rate Guarantee on CDs too.
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 University of Iowa Community Credit Union had $26.14 million in non-current loans and owned real-estate with $193.03 million in equity and loan loss allowances on hand to cover it. This gives University of Iowa Community Credit Union a Texas Ratio of 13.54% which is above average. Any bank with a Texas Ratio near or greater than 100% is considered at risk.
The Texas Ratio for University of Iowa Community Credit Union increased slightly from 7.76% as of December 31, 2012 to 13.54% as of December 31, 2013, resulting in a negative change of 74.49%. This indicates that the balance sheet and financial strength for University of Iowa Community Credit Union has declined slightly in recent periods.
In the past year, University of Iowa Community Credit Union has increased its total deposits by $282.32 million, resulting in 19.62% 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 University of Iowa Community Credit Union has shown is excellent.
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. University of Iowa Community Credit Union has $2.16 billion in assets with $193.03 million in equity, resulting in a capitalization level of 8.93%, which is average.
|Assets and Liabilities|
|Equity Capital||$180.80 million|
|Loan Loss Allowance||$12.23 million|
|Unbacked Noncurrent Loans||$23.39 million|
|Real Estate Owned||$2.76 million|
|Historic Data - December 2012|
|Equity Capital||$150.03 million|
|Loan Loss Allowance||$8.88 million|
|Unbacked Noncurrent Loans||$23.39 million|
|Real Estate Owned||$1.94 million|
|Profit Margin - Quarterly|
|Net Interest Margin||2.89%|
|Return on Assets||1.42%|
|Return on Equity||17.02%|
|Interest Income||$85.75 million|
Always verify rates and promotions with the bank or credit union. We are not University of Iowa Community Credit Union, we are a rate comparison website and can not provide official rates or promotions.
|0.50%||$100||-||Young Investors CD|
|0.10%||$100||-||Share Savings Account|
|1.00%||$250k||-||Business Premier Money Market|
|1.00%||$250k||-||Premier Money Market|
|0.10%||$500||-||Small Business Checking|
|1.20%||$500||-||49 - 60 Month CD|
|1.20%||$250k||-||22 Month CD Special|
|0.95%||$500||-||37 - 48 Month CD|
|0.75%||$500||-||25 - 36 Month CD|
|0.60%||$500||-||13 - 24 Month CD|
|0.50%||$500||-||7 - 12 Month CD|
|0.30%||$500||-||3 - 6 Month CD|
|1.20%||$100||-||49 - 60 Month IRA (Traditional,Roth,CESA,SEP)|
|1.20%||$250k||-||22 Month IRA Special (Traditional,Roth,CESA,SEP)|
|0.95%||$100||-||37 - 48 Month IRA (Traditional,Roth,CESA,SEP)|
|0.75%||$100||-||25 -36 Month IRA (Traditional,CESA,Roth,SEP)|
|0.60%||$100||-||13 - 24 Month IRA (Traditional,Roth,CESA,SEP)|
|0.50%||$100||-||7 - 12 Month IRA (Traditional,Roth,CESA,SEP)|
|0.30%||$100||-||3 - 6 Month IRA (Traditional,Roth,CESA,SEP)|
|University of Iowa Community Credit Union Locations|
|Branch Office||500 Iowa Ave||Iowa City, IA 52240|
|Branch Office||4728 University Ave Ste B||Cedar Falls, IA 50613|
|Branch Office||2340 Edgewood Rd SW||Cedar Rapids, IA 52404|
|Branch Office||405 S Blairsferry Xing||Hiawatha, IA 52233|
|Branch Office||727 Oakbrook Drive||Marion, IA 52302|
|Branch Office||705 6th Ave||Grinnell, IA 50112|
|Branch Office||825 Mormon Trek Blvd||Iowa City, IA 52246|
|Branch Office||585 W Penn St||North Liberty, IA 52317|
|Branch Office||2525 Muscatine Ave||Iowa City, IA 52240|
|Branch Office||1151 2nd St||Coralville, IA 52241|