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 247th largest credit union in the state of Pennsylvania. It is also the 4,151st largest credit union in the nation. It was established in 1961 and as of March of 2019, it had grown to 3 employees and 1,582 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

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Health
C+
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 Chartered1961
Employees3
Primary Regulator
Profit Margin
Return on Assets - YTD0.81%
Return on Equity - YTD10.64%
Annual Interest Income$70.00K
Assets and Liabilities
AssetsQ1 2019vs Q1 2018$8.9MM$8.7MM
LoansQ1 2019vs Q1 2018$4.1MM$4.2MM
DepositsQ1 2019vs Q1 2018$8.2MM$8.1MM
Equity CapitalQ1 2019vs Q1 2018$677.00K$633.00K
Loan Loss AllowanceQ1 2019vs Q1 2018$16.00K$10.00K
Unbacked Noncurrent LoansQ1 2019vs Q1 2018$53.00K$63.00K
Real Estate OwnedQ1 2019vs Q1 2018$0$0
Rates
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* 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

APYMINMAXACCOUNT NAMEVIEW DETAILS
0.66%*$50k*-IRA Savings Account
OTHER TIERS: 0.63% $25 - $10k | 0.64% $10k - $50k
0.66%*$50k*-Coverdell Educational IRA Savings Account
OTHER TIERS: 0.63% $25 - $10k | 0.64% $10k - $50k
0.13%--Regular Share Savings Account
0.13%--Vacation Share Savings Account
0.13%--Holiday Share Savings Account
0.13%--Investment Share Savings Account
0.13%--Christmas Club Savings Account

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

APYMINMAXACCOUNT NAMEVIEW DETAILS
0.02%$25-Share Draft Checking Account

I B E W Local 56 Federal Credit Union CD Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
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

APYMINMAXACCOUNT NAMEVIEW DETAILS
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 Office962 W 20TH STErie, PA 16502-2401

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