Overview / Commentary
Diversified Credit Union is headquartered in Minneapolis and is the 62nd largest credit union in the state of Minnesota. It is also the 2,668th largest credit union in the nation. It was established in 1930 and as of September of 2019, it had grown to 8 employees and 3,192 members at 3 locations. Diversified Credit Union's savings rates are 3X the national average, but it has a C health rating.
Field of Membership Restrictions
Diversified Credit Union of Minnesota is open to individuals who live, work, worship, volunteer, or attend school in Anoka, Hennepin, and Waseca Counties, MN. Employees of six Select Employee Groups (including CenterPoint Energy) also qualify for membership, as do the family members of the current Credit Union members.
See current membership details
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Health
C
Data as of Q3 2019
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. Diversified Credit Union has a low asset base.
Health Grade Components
| Overall | |
|---|---|
| NCUA # | 61726 |
| Year Chartered | 1930 |
| Employees | 8 |
| Primary Regulator | |
| Profit Margin | |
|---|---|
| Return on Assets - YTD | 0.19% |
| Return on Equity - YTD | 2.1% |
| Annual Interest Income | $1.8MM |
| Assets and Liabilities | ||
|---|---|---|
| Assets | Q3 2019vs Q3 2018 | $35.9MM$38.6MM |
| Loans | Q3 2019vs Q3 2018 | $32.8MM$36.4MM |
| Deposits | Q3 2019vs Q3 2018 | $32.6MM$35.5MM |
| Equity Capital | Q3 2019vs Q3 2018 | $3.2MM$3.1MM |
| Loan Loss Allowance | Q3 2019vs Q3 2018 | $580.00K$535.00K |
| Unbacked Noncurrent Loans | Q3 2019vs Q3 2018 | $780.00K$805.00K |
| Real Estate Owned | Q3 2019vs Q3 2018 | $0$0 |