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901 Avenue Q
Lubbock, TX 79401

Westex Credit Union is headquartered in Lubbock and is the 164th largest credit union in the state of Texas. It is also the 2,056th largest credit union in the nation. It was established in 1946 and as of March of 2014, it had grown to 17 employees and 6,317 members. Westex Credit Union has a B+ health rating.

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Health

Data for Q1 2014

Institution Health

B+
Additional Factors: Institutions with a small asset base or a short operating history can represent an instability risk beyond what their financial ratios indicate. Westex Credit Union has a relatively low asset base.

Texas Ratio

GRADE:
A+

The Texas Ratio is an indicator of how much capital a bank has available compared to the total value of loans considered at risk. As of March 31, 2014 Westex Credit Union had $129,000 in non-current loans and owned real-estate with $6.6 million in equity and loan loss allowances on hand to cover it. This gives Westex Credit Union a Texas Ratio of 1.95% which is excellent. Any bank with a Texas Ratio near or greater than 100% is considered at risk.

Texas Ratio Trend

GRADE:
C+

The Texas Ratio for Westex Credit Union experienced no significant changes from 0.80% as of March 31, 2013 to 1.95% as of March 31, 2014, resulting in a negative change of 144.88%. This indicates that the balance sheet and financial strength for Westex Credit Union has had no significant changes in recent periods.

Deposit Growth

GRADE:
A

In the past year, Westex Credit Union has increased its total deposits by $2.1 million, resulting in 3.98% 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 Westex Credit Union has shown is excellent.

Capitalization

GRADE:
B+

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. Westex Credit Union has $61.89 million in assets with $6.6 million in equity, resulting in a capitalization level of 10.67%, which is above average.

Institution Statistics

Overall
NCUA #5373
Year Chartered1946
Employees17
Primary Regulator
Assets and Liabilities
Assets$61.89 million
Loans$25.96 million
Deposits$54.90 million
Equity Capital$6.47 million
Loan Loss Allowance$135,000
Unbacked Noncurrent Loans$129,000
Real Estate Owned$0
Historic Data - March 2013
Assets$59.52 million
Equity Capital$6.39 million
Loan Loss Allowance$131,000
Unbacked Noncurrent Loans$129,000
Real Estate Owned$0
Profit Margin - Quarterly
Net Interest Margin1.63%
Return on Assets-0.23%
Return on Equity-2.16%
Interest Income$492,000
Rates

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Locations


Westex Credit Union Locations
Branch Office901 Avenue QLubbock, TX 79401
Branch Office509 Quincy StPlainview, TX 79072
Branch Office7802 Indiana AveLubbock, TX 79423