Overview / Commentary
Solutions First Credit Union is headquartered in Enterprise and is the 45th largest credit union in the state of Alabama. It is also the 2,527th largest credit union in the nation. It was established in 1964 and as of December of 2022, it had grown to 13 employees and 4,979 members at 2 locations. Solutions First Credit Union has a B health rating.
Field of Membership Restrictions
Solutions First Credit Union is open to anyone who lives, works, worships, or goes to school in Coffee, Dale, or Houston counties in Alabama. Membership also extends to immediate family of current credit union members.
See current membership details
Health
B
Data as of Q4 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. Solutions First Credit Union has a low asset base.
Health Grade Components
| Overall | |
|---|---|
| NCUA # | 16556 |
| Year Chartered | 1964 |
| Employees | 13 |
| Primary Regulator | |
| Profit Margin | |
|---|---|
| Return on Assets - YTD | 0.09% |
| Return on Equity - YTD | 1.79% |
| Annual Interest Income | $1.7MM |
| Assets and Liabilities | ||
|---|---|---|
| Assets | Q4 2022vs Q4 2021 | $48.6MM$40.6MM |
| Loans | Q4 2022vs Q4 2021 | $31.6MM$19.5MM |
| Deposits | Q4 2022vs Q4 2021 | $45.9MM$37.3MM |
| Equity Capital | Q4 2022vs Q4 2021 | $2.3MM$3.1MM |
| Loan Loss Allowance | Q4 2022vs Q4 2021 | $182.00K$169.00K |
| Unbacked Noncurrent Loans | Q4 2022vs Q4 2021 | $204.00K$70.00K |
| Real Estate Owned | Q4 2022vs Q4 2021 | $0$0 |