Westminster Credit Union is headquartered in Westminster and is the 51st largest credit union in the state of Colorado. It is also the 2,849th largest credit union in the nation. It was established in 1960 and as of December of 2013, it had grown to 8 employees and 3,894 members. Westminster Credit Union has a B+ health rating.
Field of Membership Restrictions
Must be a volunteer, full-time or part-time employee for the cities of Westminster, Arvada or Wheat Ridge, Colorado. Also open to members of the Consumers United Association. - See Details
My Review Of WFCU
I've been a member for about 18 years and never had a single problem. This credit union and it's friendly employees are the best I've ever experienced! All of the employees have always treated me like I am the "Customer of the Year". I have always recommended this credit unon to others and always will. A special "Thank you" goes out to all employees and a special "Thanks" goes to John, the credit union president! I wish other banks could do half of what these special people do!
Jim Everett
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 Westminster Credit Union had $108,000 in non-current loans and owned real-estate with $3.38 million in equity and loan loss allowances on hand to cover it. This gives Westminster Credit Union a Texas Ratio of 3.19% 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 Westminster Credit Union decreased dramatically from 8.25% as of December 31, 2012 to 3.19% as of December 31, 2013, resulting in a positive change of 61.30%.This indicates that the balance sheet and financial strength for Westminster Credit Union has improved dramatically in recent periods.
Deposit Growth
In the past year, Westminster Credit Union has increased its total deposits by $227,000, resulting in 0.8% 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 Westminster Credit Union has shown is above average.
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. Westminster Credit Union has $31.86 million in assets with $3.38 million in equity, resulting in a capitalization level of 10.61%, which is above average.
Institution Statistics
| Overall | |
|---|---|
| NCUA # | 13842 |
| Year Chartered | 1960 |
| Employees | 8 |
| Primary Regulator |
| Assets and Liabilities | |
|---|---|
| Assets | $31.86 million |
| Loans | $20.91 million |
| Deposits | $28.63 million |
| Equity Capital | $3.20 million |
| Loan Loss Allowance | $187,000 |
| Unbacked Noncurrent Loans | $108,000 |
| Real Estate Owned | $0 |
| Historic Data - December 2012 | |
|---|---|
| Assets | $31.58 million |
| Equity Capital | $3.12 million |
| Loan Loss Allowance | $265,000 |
| Unbacked Noncurrent Loans | $108,000 |
| Real Estate Owned | $0 |
| Profit Margin - Quarterly | |
|---|---|
| Net Interest Margin | 5.13% |
| Return on Assets | 0.25% |
| Return on Equity | 2.5% |
| Interest Income | $1.24 million |
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Westminster Credit Union Savings Account Rates
| Details | APY | MIN | MAX | PRODUCT |
|---|---|---|---|---|
| 0.25% | - | - | Education IRA | |
| 0.20% | - | - | Roth IRA | |
| 0.15% | - | - | Traditional IRA | |
| 0.09% | - | - | Youth Savings | |
| 0.07% | - | - | Christmas Savings | |
| 0.07% | - | - | Vacation Savings | |
| 0.05% | - | - | Share Savings |
Westminster Credit Union Money Market Rates
| Details | APY | MIN | MAX | PRODUCT |
|---|---|---|---|---|
| 0.14% | $50k | - | Money Market Accounts |
Westminster Credit Union Checking Account Rates
| Details | APY | MIN | MAX | PRODUCT |
|---|---|---|---|---|
| 0.05% | - | - | Checking Account |
Westminster Credit Union CD Rates
| Details | APY | MIN | MAX | PRODUCT |
|---|---|---|---|---|
| 0.80% | $10k | - | 36 Month CD Jumbo CD | |
| 0.75% | $1k | - | 36 Month CD | |
| 0.50% | $1k | - | 24 Month CD | |
| 0.45% | $10k | - | 12 Month CD Jumbo CD | |
| 0.40% | $1k | - | 12 Month CD | |
| 0.25% | $500 | - | 6 Month CD | |
| 0.15% | $500 | - | 3 Month CD |
Westminster Credit Union IRA Rates
| Details | APY | MIN | MAX | PRODUCT |
|---|---|---|---|---|
| 1.30% | - | - | 5 Year IRA CD | |
| 0.90% | - | - | 3 Year IRA CD | |
| 0.55% | - | - | 2 Year IRA CD | |
| 0.45% | - | - | 1 Year IRA CD |
| Westminster Credit Union Locations | ||
|---|---|---|
| Branch Office | 9053 Harlan St Ste 10 | Westminster, CO 80031-2908 |
| Branch Office | 4800 W 92nd Ave | Westminster, CO 80031-6387 |