Institution Statistics
| WEST MICHIGAN | | NCUA # | 62347 | | BankRate Report | View | | Year Chartered | 1956 | | Employees | 21 | | Primary Regulator | |
Assets and Liabilities | | Assets | $122.18 million | | Loans | $37.58 million | | Deposits | $102.17 million | | Equity Capital | $18.94 million | | Loan Loss Allowance | $464,000 | | Unbacked Noncurrent Loans | $336,000 |
Historic Data - December 2010 | | Assets | $112.33 million | | Equity Capital | $17.99 million | | Loan Loss Allowance | $476,000 | | Unbacked Noncurrent Loans | $367,000 |
Profit Margin - Quarterly | | Net Interest Margin | 6.46% | | Return on Assets | 0.78% | | Return on Equity | 5.03% | | Interest Income | $3.85 million | | Non-Interest Income | $1.61 million |
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Institution Health
Overall Score:
5 out of 5 
| 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, 2011 West Michigan Credit Union had $336,000 in non-current loans and owned real-estate with $19.4 million in equity and loan loss allowances on hand to cover it. This gives West Michigan Credit Union a Texas Ratio of 1.73% 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 West Michigan Credit Union held steady from 1.99% as of December 31, 2010 to 1.73% as of December 31, 2011, resulting in a positive change of 12.88%.This indicates that the balance sheet and financial strength for West Michigan Credit Union has held steady in recent periods. | | Deposit Growth | | | In the past year, West Michigan Credit Union has increased its total deposits by $8.81 million, resulting in 9.44% 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 West Michigan 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. West Michigan Credit Union has $122.18 million in assets with $19.4 million in equity, resulting in a capitalization level of 15.88%, which is excellent. |
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