Introduction to Code Credit Union

The credit union first came into existence in 1940 and has been operating for the last 82 years. Code Credit Union is based in the state of Ohio and is also the 45th largest credit union operating in the state; this is calculated based on its total assets. 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 4 branches and employs a total of 30 employees.

Overview of the Credit Union’s Assets and Liabilities

As previously indicated, the credit union currently has total assets of $159 million, which makes it larger than 72% of credit unions in the United States. Code Credit Union also has net loans outstanding to customers of $87 million and a deposit base of $143 million. The average credit union in Code Credit Union’s peer set has a loan to deposit ratio of approximately 63%. In comparison, Code Credit Union has a loan to deposit ratio of 61% which is clearly lower than the peer set. A lower ratio is generally better as it indicates that the lending activities of a credit union are more comfortably covered by its deposit base. Deposits are often the most cost effective source of funding for banks and credit unions. Moving on to the credit union’s loan portfolio, it mainly consists of the following: auto loans make up 51% of the portfolio and there is a total of $44 million outstanding and mortgages and lines of credit comprises 22% of the loan book and there is a total of $19 million outstanding.

Contact and Other Helpful Information

  • Main Office Address: 355 W Monument Ave, Dayton, OH 45402
  • Website:
  • Phone: (937) 222-8971
  • Charter Number: 66840
  • Charter Year: 1940
  • Employees: 30
  • Routing Number: 242277769
  • Membership: The credit union has a membership base of 12,828 which is smaller than the average credit union operating within the state. Credit unions in Ohio each have on average 14,632 members. Over the past three years, the credit union’s total base of members has declined by 4%.

Code Credit Union: Financial Overview

code credit union-balance-sheet-metrics

The above chart summarizes the trends in key balance sheet items for Code Credit Union. First off, it is noteworthy that across the board, all four items have increased over the past year. The credit union’s assets have increased by 8.4% while its total loans have fallen by 4.1%. In addition, the company’s auto loans have decreased by 10.4% while its deposits have grown by 11.4%. The net worth of a credit union provides us with an idea of how the credit union has performed over the years. It is the total value that the credit union has created for its members since inception. Code Credit Union has a total net worth of $16 million. This implies that the credit union has a net worth per member of $1,262 which is below the national average of $1,606.

Overview of the Credit Union’s Performance Metrics

code credit union-selected-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. If we take a look at Code Credit Union’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 approximately inline with the average comparable credit union and also that over the past year ROA has improved substantially given the year over year change of 0.26%. The delinquency rate is a measure of what percentage of an entity’s loan book has fallen past due i.e. is delinquent. All else equal, a higher rate implies a worse performing loan portfolio. In the case of Code Credit Union its delinquency rate is approximately inline with its peers and over the past 12 months the credit union’s delinquency rate has improved. The net worth ratio for the credit union is 10.2% and has declined compared with the prior year figure of 10.5%. The credit union is also above 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.


After factoring in all the relevant information and data, our final rating for Code Credit Union is 2.7 out of 5.0, which is above average. Importantly, please be aware that none of the information presented is meant to be investment advice or advice of any form. All of the information and views expressed in this note and on this site are purely for informational purposes.