Wellby is headquartered in Houston and is the 12th largest credit union in the state of Texas. It is also the 173rd largest credit union in the nation. It was established in 1961 and as of June of 2023, it had grown to 390 employees and 126,150 members at 21 locations. Wellby's CD rates are 5X the national average, and it has an A health rating.
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ACH Limitations
I was going to open a 4 year CD for $150,000 but they have a ACH limit of $100,000. So I will have to take my money elsewhere !! The new bank I am depositing with has an ACH limit of $250,000
OH Well !!
Great FCU
Wellby-JSU-FCU is an exceptional Credit Union that operates with a lot of integrity, especially their Seabrook Branch Management Mr. Tim Bradbury and Ms. Heather Crenshaw and their entire staff who truly seem to care about the Customer and delivering true Customer Service by helping me the customer make the best banking / financial choices for my business and myself. Loans are a very easy, including starting the processes via a phone, including the signing of all loan docs through email after approval. In summary, the entire Seabrook Branch and the Main branch has a can-do attitude, and I highly recommend the Wellby-JSU-FCU, especially the Seabrook Branch who deserve Kudos
Nothing But Crickets
I applied to open a deposit account with Wellby. Nothing but the sound of Crickets. No word at all, no wonder the ratings for them are bad. It was a big waste of time completing the application and uploading all of the documents requested.
Not the best
The hours of operation at this credit union are not good. There is no way to make a deposit at the ATM like with regular banks so if you can't get there when they are open, you are out of luck. They charge $25. if you over draft your account which I was unfortunate enough to do and was charged for nine transactions. It was a clear mistake when we opened two accounts but they only refunded a couple of them even though they saw the error was not intentional. The web banking is difficult to sign into and takes a two or three step security measure. The bill pay is not as fast as regular banks either. I will be leaving as soon as my child support is over in a few weeks, since I do want to switch my direct deposit this late in the game.
Health Grade Components
| Overall | |
|---|---|
| NCUA # | 14762 |
| Year Chartered | 1961 |
| Employees | 390 |
| Primary Regulator | |
| Profit Margin | |
|---|---|
| Return on Assets - YTD | 0.63% |
| Return on Equity - YTD | 6.27% |
| Annual Interest Income | $50.8MM |
| Assets and Liabilities | ||
|---|---|---|
| Assets | Q2 2023vs Q2 2022 | $2.55B$2.55B |
| Loans | Q2 2023vs Q2 2022 | $1.78B$1.47B |
| Deposits | Q2 2023vs Q2 2022 | $2.26B$2.25B |
| Equity Capital | Q2 2023vs Q2 2022 | $260.4MM$263.4MM |
| Loan Loss Allowance | Q2 2023vs Q2 2022 | $10.4MM$7.6MM |
| Unbacked Noncurrent Loans | Q2 2023vs Q2 2022 | $10.8MM$9.3MM |
| Real Estate Owned | Q2 2023vs Q2 2022 | $0$0 |
