Wheatland Credit Union
Wheatland Credit Union is headquartered in Lancaster and is the 107th largest credit union in the state of Pennsylvania. It is also the 2,197th largest credit union in the nation. It was established in 1936 and as of December of 2013, it had grown to 19 employees and 8,536 members. Wheatland Credit Union has a C+ health rating.
Field of Membership Restrictions
Must live, work, worship or attend school in Lancaster County, Pennsylvania. - See Details
A Little Shady???
After being a member for about 7 years, I changed my account to add my husband. He had apparently had an account there two years previous to opening the joint account. He owed money, and when we opened the joint account, no one made mention of this. But two years later they just took the money from our joint account. No notice, no phone call...nothing to tell us that they were taking the money. We are on a limited budget and the money withdrawn put us in the hole. When I contacted the bank, they said there was nothing they could do but they would reprimand the person who opened the joint account for not mentioning the money owed. That did us NO good. This situation was infortunate considering up until that point they had been a good credit union. Now I don't trust them...the account is still open...but NO money goes into it.
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 Wheatland Credit Union had $603,000 in non-current loans and owned real-estate with $4.99 million in equity and loan loss allowances on hand to cover it. This gives Wheatland Credit Union a Texas Ratio of 12.09% which is above average. Any bank with a Texas Ratio near or greater than 100% is considered at risk.
Texas Ratio Trend
The Texas Ratio for Wheatland Credit Union held steady from 10.39% as of December 31, 2012 to 12.09% as of December 31, 2013, resulting in a negative change of 16.40%. This indicates that the balance sheet and financial strength for Wheatland Credit Union has held steady in recent periods.
Deposit Growth
In the past year, Wheatland Credit Union has decreased its total deposits by -$2.11 million, resulting in -4.19% 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 Wheatland Credit Union has shown is below 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. Wheatland Credit Union has $53.21 million in assets with $4.99 million in equity, resulting in a capitalization level of 9.37%, which is average.
Institution Statistics
| Overall | |
|---|---|
| NCUA # | 1658 |
| Year Chartered | 1936 |
| Employees | 19 |
| Primary Regulator |
| Assets and Liabilities | |
|---|---|
| Assets | $53.21 million |
| Loans | $36.64 million |
| Deposits | $48.20 million |
| Equity Capital | $4.88 million |
| Loan Loss Allowance | $110,000 |
| Unbacked Noncurrent Loans | $603,000 |
| Real Estate Owned | $0 |
| Historic Data - December 2012 | |
|---|---|
| Assets | $55.26 million |
| Equity Capital | $4.74 million |
| Loan Loss Allowance | $190,000 |
| Unbacked Noncurrent Loans | $603,000 |
| Real Estate Owned | $0 |
| Profit Margin - Quarterly | |
|---|---|
| Net Interest Margin | 4.55% |
| Return on Assets | 0.26% |
| Return on Equity | 2.83% |
| Interest Income | $1.95 million |
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Wheatland Credit Union Savings Account Rates
| Details | APY | MIN | MAX | PRODUCT |
|---|---|---|---|---|
| 0.25% | - | - | Accumulation IRA | |
| 0.25% | - | - | Accumulation Roth IRA | |
| 0.25% | - | - | Accumulation CESA | |
| 0.20% | - | - | The Wheatland Fund | |
| 0.20% | - | - | Club Grand Account | |
| 0.10% | - | - | Vacation Club | |
| 0.10% | - | - | Holiday Club | |
| 0.10% | - | - | Sharky Savers Account | |
| 0.05% | - | - | Regular Share Account | |
| 0.05% | - | - | Personal Choice Savings Account |
Wheatland Credit Union CD Rates
| Details | APY | MIN | MAX | PRODUCT |
|---|---|---|---|---|
| 0.70% | $500 | - | 36 Month All-Star Rewards Tier 3 Certificate | |
| 0.70% | $500 | - | 36 Month Club Grand Member Certificate | |
| 0.70% | $500 | - | 36 Month All-Star Rewards Tier 4 Certificate | |
| 0.60% | $500 | - | 36 Month Certificate | |
| 0.50% | $500 | - | 24 Month All-Star Rewards Tier 3 Certificate | |
| 0.50% | $500 | - | 24 Month Club Grand Member Certificate | |
| 0.50% | $500 | - | 24 Month All-Star Rewards Tier 4 Certificate | |
| 0.40% | $500 | - | 24 Month Certificate | |
| 0.30% | $500 | - | 12 Month Certificate | |
| 0.20% | $500 | - | 6 Month Certificate |
Wheatland Credit Union IRA Rates
| Details | APY | MIN | MAX | PRODUCT |
|---|---|---|---|---|
| 0.70% | $2k | - | 3 Year IRA Certificate (Traditional,Roth,CESA) | |
| 0.50% | $1k | - | 24 Month IRA Certificate (Traditional,Roth,CESA) | |
| 0.40% | $500 | - | 12 Month IRA Certificate (Traditional,Roth,CESA) |
| Wheatland Credit Union Locations | ||
|---|---|---|
| Branch Office | 625 Robert Fulton Hwy | Quarryville, PA 17566 |
| Branch Office | 625 Robert Fulton Hwy | Quarryville, PA 17566 |
| Branch Office | 611 Centerville RD | Lancaster, PA 17601 |
| Branch Office | 555 Greenfield Rd Ste 111 | Lancaster, PA 17601 |
| Branch Office | 2701 Sheaffer Rd | Elizabethtown, PA 17022 |
| Branch Office | Hempfield High School 200 Stanley Ave | Landisville, PA 17538 |