Overview / Commentary
1st Resource Credit Union is headquartered in Birmingham and is the 44th largest credit union in the state of Alabama. It is also the 2,496th largest credit union in the nation. It was established in 1940 and as of June of 2020, it had grown to 9 employees and 2,407 members at 2 locations. 1st Resource Credit Union's money market rates are 3X the national average, and it has a B+ health rating.
Field of Membership Restrictions
Membership in 1st Resource Credit Union is open to those who live, work, or worship in Montgomery or Jefferson Counties in Alabama.
See current membership details
Health
B+
Data as of Q2 2020
Learn why bank health mattersAdditional Factors: Institutions with a small asset base, a short operating history, or negative return on assets can represent an instability risk beyond what their financial ratios indicate. 1st Resource Credit Union has a low asset base.
Health Grade Components
| Overall | |
|---|---|
| NCUA # | 64232 |
| Year Chartered | 1940 |
| Employees | 9 |
| Primary Regulator | |
| Profit Margin | |
|---|---|
| Return on Assets - YTD | 0.1% |
| Return on Equity - YTD | 0.98% |
| Annual Interest Income | $968.00K |
| Assets and Liabilities | ||
|---|---|---|
| Assets | Q2 2020vs Q2 2019 | $46.7MM$38.4MM |
| Loans | Q2 2020vs Q2 2019 | $33.3MM$26.6MM |
| Deposits | Q2 2020vs Q2 2019 | $42.1MM$33.7MM |
| Equity Capital | Q2 2020vs Q2 2019 | $4.5MM$4.6MM |
| Loan Loss Allowance | Q2 2020vs Q2 2019 | $311.00K$187.00K |
| Unbacked Noncurrent Loans | Q2 2020vs Q2 2019 | $125.00K$142.00K |
| Real Estate Owned | Q2 2020vs Q2 2019 | $0$87.00K |