Wasatch Peaks Credit Union
Wasatch Peaks Credit Union is headquartered in Ogden and is the 10st largest credit union in the state of Utah. It is also the 757th largest credit union in the nation. It was established in 1930 and as of December of 2013, it had grown to 88 employees and 30,585 members. Wasatch Peaks Credit Union has a A+ health rating.
Field of Membership Restrictions
You are eligible for membership, when you meet one of the following: --Live, work, worship, or attend school or volunteer in Weber, Davis or Morgan Counties. --A Family member of an existing Wasatch Peaks Credit Union Member, including: Parent, Spouse, Sibling/Step Child, Grandparent, and Grandchild. A spouse of a person who died while with in our field of membership. - See Details
Former Alliance Member...
It is frustrating to me that since the merge of my credit union with Wasatch Peaks, the service and technology has taken a step backward. There is no way to see pending transactions. I can't even call a branch and find out if a direct deposit will be made within the next 24 hours. I worked in a credit union in 1995 and I could get that information for my members. Was it just lazy service or can they honestly, with all the advancements in the last twenty years, not access that information. I have made it a top priority to close my account with this credit union. As soon as I get my direct deposit changed I will no longer be using this credit union.
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 Wasatch Peaks Credit Union had $1.08 million in non-current loans and owned real-estate with $25.29 million in equity and loan loss allowances on hand to cover it. This gives Wasatch Peaks Credit Union a Texas Ratio of 4.27% which is excellent. Any bank with a Texas Ratio near or greater than 100% is considered at risk.
Texas Ratio Trend
The Texas Ratio for Wasatch Peaks Credit Union decreased dramatically from 11.52% as of December 31, 2012 to 4.27% as of December 31, 2013, resulting in a positive change of 62.92%.This indicates that the balance sheet and financial strength for Wasatch Peaks Credit Union has improved dramatically in recent periods.
Deposit Growth
In the past year, Wasatch Peaks Credit Union has increased its total deposits by $60.13 million, resulting in 35.5% 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 Wasatch Peaks Credit Union has shown is excellent.
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. Wasatch Peaks Credit Union has $260.7 million in assets with $25.29 million in equity, resulting in a capitalization level of 9.70%, which is above average.
Institution Statistics
| Overall | |
|---|---|
| NCUA # | 24780 |
| Year Chartered | 1930 |
| Employees | 88 |
| Primary Regulator |
| Assets and Liabilities | |
|---|---|
| Assets | $260.70 million |
| Loans | $181.74 million |
| Deposits | $229.51 million |
| Equity Capital | $24.18 million |
| Loan Loss Allowance | $1.11 million |
| Unbacked Noncurrent Loans | $686,000 |
| Real Estate Owned | $394,000 |
| Historic Data - December 2012 | |
|---|---|
| Assets | $187.22 million |
| Equity Capital | $16.84 million |
| Loan Loss Allowance | $1.25 million |
| Unbacked Noncurrent Loans | $686,000 |
| Real Estate Owned | $440,000 |
| Profit Margin - Quarterly | |
|---|---|
| Net Interest Margin | 4.4% |
| Return on Assets | 0.53% |
| Return on Equity | 5.67% |
| Interest Income | $9.20 million |
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Wasatch Peaks Credit Union Savings Account Rates
| Details | APY | MIN | MAX | PRODUCT |
|---|---|---|---|---|
| 0.35% | - | $300 | Christmas Club | |
| 0.20% | - | - | School Advantage | |
| 0.05% | $25 | - | Share Savings | |
| 0.05% | - | - | Budgeter Savings | |
| 0.05% | $25 | - | IRA Savings | |
| 0.05% | $25 | - | Roth IRA Savings | |
| 0.05% | $25 | - | Health Savings |
Wasatch Peaks Credit Union Money Market Rates
| Details | APY | MIN | MAX | PRODUCT |
|---|---|---|---|---|
| 0.25% | $250k | - | Money Market Account |
Wasatch Peaks Credit Union Checking Account Rates
| Details | APY | MIN | MAX | PRODUCT |
|---|---|---|---|---|
| 0.05% | $500 | - | Rewards Checking | |
| 0.05% | $500 | - | Simply Free Checking |
Wasatch Peaks Credit Union CD Rates
| Details | APY | MIN | MAX | PRODUCT |
|---|---|---|---|---|
| 1.80% | $500 | - | 60 Month Certificate | |
| 1.10% | $500 | - | 48 Month Certificate | |
| 0.75% | $500 | - | 36 Month Certificate | |
| 0.55% | $500 | - | 30 Month Certificate | |
| 0.45% | $500 | - | 24 Month Certificate | |
| 0.40% | $500 | - | 18 Month Certificate | |
| 0.35% | $500 | - | 12 Month Certificate | |
| 0.30% | $50 | $100k | 1 Year Advantage CD | |
| 0.30% | $500 | - | 1 Year Flex CD | |
| 0.20% | $500 | - | 6 Month Certificate | |
| 0.10% | $500 | - | 3 Month Certificate |
Wasatch Peaks Credit Union IRA Rates
| Details | APY | MIN | MAX | PRODUCT |
|---|---|---|---|---|
| 1.80% | $500 | - | 60 Month IRA Certificate (Traditional,Roth) | |
| 1.10% | $500 | - | 48 Month IRA Certificate (Traditional,Roth) | |
| 0.75% | $500 | - | 36 Month IRA Certificate (Traditional,Roth) | |
| 0.55% | $500 | - | 30 Month IRA Certificate (Traditional,Roth) | |
| 0.45% | $500 | - | 24 Month IRA Certificate (Traditional,Roth) | |
| 0.40% | $500 | - | 18 Month IRA Certificate (Traditional,Roth) | |
| 0.35% | $500 | - | 12 Month IRA Certificate (Traditional,Roth) | |
| 0.20% | $500 | - | 6 Month IRA Certificate (Traditional,Roth) | |
| 0.10% | $500 | - | 3 Month IRA Certificate (Traditional,Roth) |
| Wasatch Peaks Credit Union Locations | ||
|---|---|---|
| Branch Office | 2780 Adams Ave | Ogden, UT 84403 |
| Branch Office | 1588 W 2700 N | Ogden, UT 84404-1224 |
| Branch Office | 975 Washington Blvd | Ogden, UT 84404 |
| Branch Office | 1935 W 4800 S | Roy, UT 84067 |
| Branch Office | 5257 S 500 E | Ogden, UT 84405 |
| Branch Office | 3012 S 1900 W | Ogden, UT 84401 |