Overview / Commentary
Social Security Credit Union is headquartered in Birmingham and is the 50th largest credit union in the state of Alabama. It is also the 2,834th largest credit union in the nation. It was established in 1947 and as of June of 2020, it had grown to 6 employees and 3,564 members at 1 location. Social Security Credit Union has a B+ health rating.
Field of Membership Restrictions
Social Security Credit Union is open to employees and retirees of the Social Security Administration and other Departments of Health and Human Services offices in Birmingham, Alabama; federal employees in the metro Birmingham area and other Southeastern Program Service Center divisions.
See current membership details
Health
B+
Data as of Q2 2020
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. Social Security Credit Union has a low asset base.
Health Grade Components
| Overall | |
|---|---|
| NCUA # | 61391 |
| Year Chartered | 1947 |
| Employees | 6 |
| Primary Regulator | |
| Profit Margin | |
|---|---|
| Return on Assets - YTD | 0.76% |
| Return on Equity - YTD | 3.69% |
| Annual Interest Income | $602.00K |
| Assets and Liabilities | ||
|---|---|---|
| Assets | Q2 2020vs Q2 2019 | $34.0MM$31.6MM |
| Loans | Q2 2020vs Q2 2019 | $16.0MM$17.0MM |
| Deposits | Q2 2020vs Q2 2019 | $26.9MM$24.8MM |
| Equity Capital | Q2 2020vs Q2 2019 | $6.7MM$6.5MM |
| Loan Loss Allowance | Q2 2020vs Q2 2019 | $95.00K$115.00K |
| Unbacked Noncurrent Loans | Q2 2020vs Q2 2019 | $252.00K$226.00K |
| Real Estate Owned | Q2 2020vs Q2 2019 | $0$0 |