Overview of Alta Vista Credit Union
First established in 1973, Alta Vista Credit Union is a credit union based in the state of California and also one of the largest credit unions in the country. It is the 116th largest credit union operating in the state of California as measured by total assets. The credit union falls under the category: state charter. Credit unions are regulated by the National Credit Union Administration (NCUA), which is an independent agency that was created by the U.S. government in 1970. The NCUA also insures customer deposits at credit unions in the country. The company has a total of 2 branches and employs a total of 40 employees.
Overview of the Credit Union’s Assets and Liabilities
The credit union currently has total assets of $224 million, total deposits of $203 million and net loans outstanding of $93 million. On average its members had a total of $15,325 deposited with the credit union – this is a helpful metric to monitor as it provides us with an idea of the level of engagement of the credit union’s membership base. Furthermore, the credit union has a loan to deposit ratio of 46% which is lower than credit unions of comparable size. Alta Vista Credit Union’s peer set of credit unions have a loan to deposit ratio of approximately 63%. A lower ratio is better since it means that a credit union’s lending activities are more comfortably covered by its deposit base. Taking a closer look at the credit union’s loan portfolio, we see that auto loans represent 44% of the total and currently stands at $41 million, while there is $31 million of loans outstanding from mortgages and lines of credit which represents 33% of the credit union’s loan portfolio.
Contact and Other Helpful Information
- Main Office Address: 1425 W Lugonia Ave, Redlands, CA 92374
- Website: http://www.altavistacu.org
- Phone: (909) 809-3838
- Charter Number: 64531
- Charter Year: 1973
- Employees: 40
- Routing Number: 322282580
- Membership: Credit unions in the state of California have an average membership base of 47,657 compared with Alta Vista Credit Union which has total members of 13,258. Over the past three years, the credit union’s total base of members has declined by 9%.
Alta Vista Credit Union: Financial Overview
Detailed above is a chart showing the progression of four important balance sheet items over the past year for Alta Vista Credit Union. Assets and total loans for the credit union have increased by 10.7% and declined by 18.7%, respectively. In addition, the company’s auto loans, which as noted earlier is the largest portion of the loan book, has decreased by 26.3%. Lastly, the credit union’s deposits have expanded by 14.8%. We like to look at a credit union’s net worth to get a sense of the performance of the entity over the years for its members. Alta Vista Credit Union has a total net worth of $16 million while the average credit union in the United States has a net worth of $41 million. This implies that the credit union has a net worth per member of $1,204 which is below the national average of $1,606.
Overview of the Credit Union’s Performance Metrics
The above chart shows some of the important metrics we look at when assessing a credit union, and compares these to the average credit union of comparable size. It also shows how these metrics have fared over the past year. Starting with the company’s return on assets, on this metric Alta Vista Credit Union is below the average credit union in its peer set and over the past year ROA has been relatively stable with a total change of 0.03%. Return on assets tells us how productive a company is being with its asset base. We look at the delinquency rate within a loan portfolio as a way to assess the performance and quality of a credit union’s loan book. A lower delinquency rate indicates a better performing portfolio. Alta Vista Credit Union has a delinquency rate that is below its peer group average and when compared with the prior year, we can see that it has improved substantially. The net worth ratio for the credit union is 7.1% and has been relatively stable compared with the prior year figure of 7.3%. The credit union is also below its peer group average of 9.7% on this metric. Finally, based on the NCUA guidelines, the company’s net worth ratio would classify it as well capitalized.
Overall, we believe Alta Vista Credit Union deserves a rating of 2.9 out of 5.0, which is above average. Finally, please note that the rating information presented is based on our proprietary scoring system. None of the work presented is intended to be investment advice or advice of any sort and is presented purely for informational purposes.