Overview / Commentary
Northern Redwood Federal Credit Union is headquartered in Arcata and is the 228th largest credit union in the state of California. It is also the 3,174th largest credit union in the nation. It was established in 1955 and as of June of 2023, it had grown to 6 employees and 3,384 members at 2 locations. Northern Redwood Federal Credit Union's CD rates are 4X the national average, and it has a C+ health rating.
Field of Membership Restrictions
Membership in Northern Redwood Federal Credit Union is open to those who live or work in Humboldt County, California, are a member of Teamster No. 137, or work for Simpson Timber Company or one of its subsidiaries.
See current membership details
Health
C+
Data as of Q2 2023
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. Northern Redwood Federal Credit Union has a low asset base.
Health Grade Components
| Overall | |
|---|---|
| NCUA # | 10362 |
| Year Chartered | 1955 |
| Employees | 6 |
| Primary Regulator | |
| Profit Margin | |
|---|---|
| Return on Assets - YTD | 0.22% |
| Return on Equity - YTD | 2.92% |
| Annual Interest Income | $553.00K |
| Assets and Liabilities | ||
|---|---|---|
| Assets | Q2 2023vs Q2 2022 | $24.2MM$24.9MM |
| Loans | Q2 2023vs Q2 2022 | $18.9MM$18.9MM |
| Deposits | Q2 2023vs Q2 2022 | $22.3MM$22.8MM |
| Equity Capital | Q2 2023vs Q2 2022 | $1.9MM$2.0MM |
| Loan Loss Allowance | Q2 2023vs Q2 2022 | $0$69.00K |
| Unbacked Noncurrent Loans | Q2 2023vs Q2 2022 | $90.00K$148.00K |
| Real Estate Owned | Q2 2023vs Q2 2022 | $0$0 |