Overview of Amucu
Amucu officially got its credit union charter in the year 1952. The credit union falls under the category: multiple group – other. In terms of its lending activity, the credit union is mainly engaged in providing mortgages and lines of credit. These loans represent 35% of its total lending. Amucu’s total assets are larger than 82% of credit unions in the United States. Amucu’s deposits are insured by the National Credit Union Administration (NCUA), which operates very similarly to the Federal Deposit Insurance Corporation, except with a focus on credit unions. The NCUA also regulates and supervises Amucu’s operations. The company has a total of 11 branches and employs a total of 97 employees.
Overview of the Credit Union’s Assets and Liabilities
The credit union currently has total assets of $350 million, total deposits of $311 million and net loans outstanding of $252 million. On average its members had a total of $12,544 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. The credit union also has a loan to deposit ratio of 81% which is higher than the average credit union of similar size. The loan to deposit ratio is a good way to assess how liquid a bank or credit union’s balance sheet is. Taking a closer look at the credit union’s loan portfolio, we see that mortgages and lines of credit represent 35% of the total and currently stands at $87 million, while there is $78 million of loans outstanding from auto loans which represents 31% of the credit union’s loan portfolio.
Contact and Other Helpful Information
- Main Office Address: 2687 W 7800 S, West Jordan, UT 84088
- Website: http://www.americanunitedcu.org
- Phone: (801) 359-9600
- Charter Number: 8187
- Charter Year: 1952
- Employees: 97
- Routing Number: 324078640
- Membership: Credit unions in the state of Utah have an average membership base of 55,182 compared with Amucu which has total members of 24,771. Over the past three years, the credit union’s total base of members has increased by 17%.
Amucu: Financial Overview
Detailed above is a chart showing the progression of four important balance sheet items over the past year for Amucu. Assets and total loans for the credit union have expanded by 11.2% and grown by 10.1%, respectively. In addition, the company’s mortgages and lines of credit, which as noted earlier is the largest portion of the loan book, has expanded by 43.6%. Lastly, the credit union’s deposits have grown by 22.8%. A credit union’s net worth is a good proxy for the value that a credit union has accrued over time. Based on the latest available information, Amucu’s net worth stands at $39 million. This implies that the credit union has a net worth per member of $1,591 which is approximately inline with the national average of $1,606.
Overview of the Credit Union’s Performance Metrics
The chart above compares Amucu’s performance on three metrics to credit unions in its peer group and also shows the credit union’s performance on each metric in the prior year. These are some of the important measures for a credit union’s performance that we look at. If we take a look at Amucu’s return on assets – which is usually a good measure of how efficiently a company is using its assets to produce profits – we see that the credit union is above the average comparable credit union and also that over the past year ROA has improved substantially given the year over year change of 0.29%. Moving on to the credit union’s delinquency rate, which tells us how much of a credit union’s loan book is delinquent, the credit union is well above its peer group on this metric and compared with the prior year it has improved. Keep in mind that a higher delinquency rate indicates a lower performing loan book so a declining rate is a favorable trend. Finally, the net worth ratio for the credit union is 11.3% which is well above its peer group average of 9.7%. This metric has declined on a year over year basis and stood at 11.9% a year ago. Based on the NCUA guidelines, the credit union is considered to be well capitalized.
Ultimately, after considering all of the relevant factors we rate Amucu 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.