Linn Area Credit Union is headquartered in Cedar Rapids and is the 10th largest credit union in the state of Iowa. It is also the 649th largest credit union in the nation. It was established in 1935 and as of June of 2021, it had grown to 95 employees and 24,804 members at 5 locations. Linn Area Credit Union's money market rates are 48% higher than the national average, and it has an A health rating.
Field of Membership Restrictions
Membership in Linn Area Credit Union is open to those who live or work in Benton, Black Hawk, Bremer, Buchanan, Cedar, Clayton, Clinton, Delaware, Dubuque, Fayette, Iowa, Jackson, Johnson, Jones, Keokuk, Linn, Louisa, Muscatine, Poweshiek, Scott, Tama or Washington in Iowa. Anyone whose family member is a current member of the credit union is also eligible to join.
See current membership details
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High yield earns me big $$
I have multiple checking accounts with this credit union, as well as a savings account, and an organization I work for has their business account with them, which I'm a signer on. I've had nothing but good experiences with them, and their products. The high-yield checking account is awesome, with ATM fee refunds and interest earned that's much better than I'd get on most accounts, plus they don't charge me fees like most places do. It's not an option with the business account, but that's not a big deal for me.
They just got a mobile app too, finally, but I know they're smaller than the big places, so I'm sure it takes time to do that kind of stuff. It's really nice to be able to use my phone to check balances, transfer money, etc. I don't feel like I'm missing out on anything provided by a big bank, but I get way better service, pay less (or nothing) for fees, and always have super nice people to work with if I ever need anything!
I'm Very Upset That LACU Lowered Their HYC Rate To 4%
I'm very upset that LACU lowered their HYC rate to 4%. I moved my money to CRBT and have been very pleased to earn 5% there instead.
Data as of Q2 2021
Learn why bank health mattersHealth Grade Components
| Overall | |
|---|---|
| NCUA # | 63602 |
| Year Chartered | 1935 |
| Employees | 95 |
| Primary Regulator | |
| Profit Margin | |
|---|---|
| Return on Assets - YTD | 1.17% |
| Return on Equity - YTD | 12.11% |
| Annual Interest Income | $9.7MM |
| Assets and Liabilities | ||
|---|---|---|
| Assets | Q2 2021vs Q2 2020 | $545.7MM$481.9MM |
| Loans | Q2 2021vs Q2 2020 | $467.8MM$408.1MM |
| Deposits | Q2 2021vs Q2 2020 | $461.2MM$408.5MM |
| Equity Capital | Q2 2021vs Q2 2020 | $52.2MM$46.5MM |
| Loan Loss Allowance | Q2 2021vs Q2 2020 | $1.7MM$1.7MM |
| Unbacked Noncurrent Loans | Q2 2021vs Q2 2020 | $852.00K$2.4MM |
| Real Estate Owned | Q2 2021vs Q2 2020 | $40.00K$175.00K |