Overview / Commentary
Wellspring Credit Union is headquartered in Bridge City and is the 162nd largest credit union in the state of Texas. It is also the 2,040th largest credit union in the nation. It was established in 1958 and as of June of 2023, it had grown to 29 employees and 8,316 members at 4 locations. Wellspring Credit Union's CD rates are 3X the national average, and it has a B health rating.
Field of Membership Restrictions
Membership in Wellspring Credit Union is open to those who live, work, worship, or attend school in the Texas counties of Hardin, Jefferson, Newton, or Orange. Immediate family members of current Wellspring Credit Union members are also eligible to join.
See current membership details
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Health
B
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. Wellspring Credit Union has a relatively low asset base.
Health Grade Components
| Overall | |
|---|---|
| NCUA # | 12181 |
| Year Chartered | 1958 |
| Employees | 29 |
| Primary Regulator | |
| Profit Margin | |
|---|---|
| Return on Assets - YTD | 0.32% |
| Return on Equity - YTD | 3.82% |
| Annual Interest Income | $1.8MM |
| Assets and Liabilities | ||
|---|---|---|
| Assets | Q2 2023vs Q2 2022 | $80.5MM$64.0MM |
| Loans | Q2 2023vs Q2 2022 | $66.7MM$46.4MM |
| Deposits | Q2 2023vs Q2 2022 | $72.2MM$57.3MM |
| Equity Capital | Q2 2023vs Q2 2022 | $6.9MM$5.6MM |
| Loan Loss Allowance | Q2 2023vs Q2 2022 | $0$342.00K |
| Unbacked Noncurrent Loans | Q2 2023vs Q2 2022 | $812.00K$228.00K |
| Real Estate Owned | Q2 2023vs Q2 2022 | $0$0 |