I B E W Local 56 Federal Credit Union

Overview / Commentary

814-455-2270

962 West 20th Street
Erie, PA 16502

I B E W Local 56 Federal Credit Union is headquartered in Erie and is the 249^th largest credit union in the state of Pennsylvania. It is also the 4,154^th largest credit union in the nation. It was established in 1961 and as of September of 2019, it had grown to 3 employees and 1,602 members at 1 location. I B E W Local 56 Federal Credit Union has a C+ health rating.

Field of Membership Restrictions

Membership is open to employees of I.B.E.W. Local #56, Advanced Business Systems, Stroehmann Bakery, Birkmire Trucking Co., Advanced Protection Services, Metro Health Center, A-1 Automotive, Furman Enterprises, Inc., AAA West Penn/Erie County, Signal-Tech, West Erie County Democratic Committee members in select counties of Pennsylvania.
See current membership details

Reviews

Write a Review

No reviews have been left for this bank yet. Be the first to review.

Health

C+

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. I B E W Local 56 Federal Credit Union has a very low asset base.

Health Grade Components

Overall
NCUA #	14247
Year Chartered	1961
Employees	3
Primary Regulator

Profit Margin
Return on Assets - YTD	1.03%
Return on Equity - YTD	12.29%
Annual Interest Income	$218.00K

Assets and Liabilities
Assets	Q3 2019vs Q3 2018	$8.6MM$8.5MM
Loans	Q3 2019vs Q3 2018	$4.0MM$4.0MM
Deposits	Q3 2019vs Q3 2018	$7.8MM$7.8MM
Equity Capital	Q3 2019vs Q3 2018	$727.00K$649.00K
Loan Loss Allowance	Q3 2019vs Q3 2018	$12.00K$14.00K
Unbacked Noncurrent Loans	Q3 2019vs Q3 2018	$45.00K$52.00K
Real Estate Owned	Q3 2019vs Q3 2018	$0$0

Rates

Skip to rates for:

Savings
Checking
CD
IRA

Report an Issue

Always verify rates and promotions with the bank or credit union. We are not I B E W Local 56 Federal Credit Union; we are a rate comparison website and cannot provide official rates or promotions.

* The APY shown varies based on the deposit amount. Expand the listing to see APYs for other deposit amounts.

I B E W Local 56 Federal Credit Union Savings Account Rates

APY	MIN	MAX	ACCOUNT NAME
0.68%^*	$50k^*	-	IRA Savings Account
OTHER TIERS: 0.64% → $25 - $10k \| 0.65% → $10k - $50k
0.68%^*	$50k^*	-	Coverdell Educational IRA Savings Account
OTHER TIERS: 0.64% → $25 - $10k \| 0.65% → $10k - $50k
0.15%	-	-	Regular Share Savings Account
0.15%	-	-	Vacation Share Savings Account
0.15%	-	-	Holiday Share Savings Account
0.15%	-	-	Investment Share Savings Account
0.15%	-	-	Christmas Club Savings Account

I B E W Local 56 Federal Credit Union Checking Account Rates

APY	MIN	MAX	ACCOUNT NAME	VIEW DETAILS
0.02%	$25	-	Share Draft Checking Account

I B E W Local 56 Federal Credit Union CD Rates

APY	MIN	MAX	ACCOUNT NAME
1.51%^*	$50k^*	-	36 Month Dividend Paid Monthly Share Certificate
OTHER TIERS: 1.00% → $1k - $5k \| 1.21% → $5k - $25k \| 1.36% → $25k - $50k
1.26%^*	$50k^*	-	24 Month Dividend Paid Monthly Share Certificate
OTHER TIERS: 0.75% → $1k - $5k \| 0.95% → $5k - $25k \| 1.11% → $25k - $50k
0.95%^*	$50k^*	-	12 Month Dividend Paid Monthly Share Certificate
OTHER TIERS: 0.45% → $1k - $5k \| 0.65% → $5k - $25k \| 0.80% → $25k - $50k
0.60%^*	$50k^*	-	6 Month Dividend Paid at Maturity Share Certificate
OTHER TIERS: 0.40% → $5k - $25k \| 0.50% → $25k - $50k

I B E W Local 56 Federal Credit Union IRA Rates

APY	MIN	MAX	ACCOUNT NAME
1.51%^*	$50k^*	-	36 Month IRA Certificate
OTHER TIERS: 1.00% → $1k - $5k \| 1.21% → $5k - $25k \| 1.36% → $25k - $50k
1.26%^*	$50k^*	-	24 Month IRA Certificate
OTHER TIERS: 0.75% → $1k - $5k \| 0.95% → $5k - $25k \| 1.11% → $25k - $50k
0.95%^*	$50k^*	-	12 Month IRA Certificate
OTHER TIERS: 0.45% → $1k - $5k \| 0.65% → $5k - $25k \| 0.80% → $25k - $50k
0.60%^*	$50k^*	-	6 Month IRA Certificate
OTHER TIERS: 0.40% → $5k - $25k \| 0.50% → $25k - $50k

Locations

I B E W Local 56 Federal Credit Union Locations
Branch Office	962 W 20TH ST	Erie, PA 16502-2401

The financial institution, product, and APY (Annual Percentage Yield) data displayed on this website is gathered from various sources and may not reflect all of the offers available in your region. Although we strive to provide the most accurate data possible, we cannot guarantee its accuracy. The content displayed is for general information purposes only; always verify account details and availability with the financial institution before opening an account. Contact [email protected] to report inaccurate info or to request offers be included in this website. We are not affiliated with the financial institutions included in this website.