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 2,851st largest credit union in the nation. It was established in 1947 and as of June of 2022, it had grown to 6 employees and 3,366 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 2022
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 | 0.36% |
| Return on Equity - YTD | 1.9% |
| Annual Interest Income | $424.00K |
| Assets and Liabilities | ||
|---|---|---|
| Assets | Q2 2022vs Q2 2021 | $36.3MM$37.1MM |
| Loans | Q2 2022vs Q2 2021 | $13.2MM$15.4MM |
| Deposits | Q2 2022vs Q2 2021 | $29.3MM$30.0MM |
| Equity Capital | Q2 2022vs Q2 2021 | $7.0MM$6.8MM |
| Loan Loss Allowance | Q2 2022vs Q2 2021 | $49.00K$106.00K |
| Unbacked Noncurrent Loans | Q2 2022vs Q2 2021 | $60.00K$66.00K |
| Real Estate Owned | Q2 2022vs Q2 2021 | $0$0 |