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Electel Cooperative Federal Credit Union


Overview / Commentary
electel.org
919-872-2395
3400 Sumner Blvd
Raleigh, NC 27616

Electel Cooperative Federal Credit Union is headquartered in Raleigh and is the 37th largest credit union in the state of North Carolina. It is also the 2,333rd largest credit union in the nation. It was established in 1969 and as of September of 2019, it had grown to 10 employees and 7,487 members at 4 locations. Electel Cooperative Federal Credit Union's money market rates are 2X the national average, and it has a B health rating.

Field of Membership Restrictions

Membership is open to the employees, directors, and officers of the electric and telephone cooperatives in North Carolina, Virginia, Maryland, Delaware, Tennessee, and West Virginia.
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Health
B

Data as of Q3 2019

Learn why bank health matters
Additional 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. Electel Cooperative Federal Credit Union has a low asset base.

Health Grade Components

Overall
NCUA #24819
Year Chartered1969
Employees10
Primary Regulator
Profit Margin
Return on Assets - YTD1.15%
Return on Equity - YTD8.68%
Annual Interest Income$1.7MM
Assets and Liabilities
AssetsQ3 2019vs Q3 2018$49.2MM$51.5MM
LoansQ3 2019vs Q3 2018$32.7MM$33.8MM
DepositsQ3 2019vs Q3 2018$42.3MM$45.3MM
Equity CapitalQ3 2019vs Q3 2018$6.7MM$6.0MM
Loan Loss AllowanceQ3 2019vs Q3 2018$140.00K$182.00K
Unbacked Noncurrent LoansQ3 2019vs Q3 2018$141.00K$211.00K
Real Estate OwnedQ3 2019vs Q3 2018$0$0
Rates
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Electel Cooperative Federal Credit Union Savings Account Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
0.10%$1-Regular Savings Account
0.10%$10-Special Savings Account
0.10%$10-Christmas Club Account
0.10%$10-IRA Savings Account

Electel Cooperative Federal Credit Union Money Market Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
1.00%$500-Money Market Account
1.00%$500-IRA Money Market Account

Electel Cooperative Federal Credit Union Checking Account Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
0.05%$500-Checking Account

Electel Cooperative Federal Credit Union CD Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
2.27%$500-36 Month Share Certificate
2.02%$500-24 Month Share Certificate
1.76%$500-12 Month Share Certificate
0.75%$1k-180 Day Share Certificate
0.50%$1k-90 Day Share Certificate

Electel Cooperative Federal Credit Union IRA Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
2.27%$500-36 Month IRA Share Certificate
2.02%$500-24 Month IRA Share Certificate
1.76%$500-12 Month IRA Share Certificate
0.75%$1k-180 Day IRA Share Certificate
0.50%$1k-90 Day IRA Share Certificate
Locations


Electel Cooperative Federal Credit Union Locations
Branch Office3400 Sumner BlvdRaleigh, NC 27616
Branch Office2500 NC Highway 86 SHillsborough, NC 27278
Branch Office1125 Oxford RdRoxboro, NC 27573
Branch Office300 Rascoe Dameron RdBurlington, NC 27217

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