Overview of Columbus United Federal Credit Union
Columbus United Federal Credit Union officially got its credit union charter in the year 1990. The credit union falls under the category: community – rural district. In terms of its lending activity, the credit union is mainly engaged in providing auto loans. These loans represent 48% of its total lending. Columbus United Federal Credit Union’s total assets are larger than 59% of credit unions in the United States. 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 22 employees.
Overview of the Credit Union’s Assets and Liabilities
The credit union currently has total assets of $78 million, total deposits of $67 million and net loans outstanding of $56 million. On average its members had a total of $8,538 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 average credit union in Columbus United Federal Credit Union’s peer set has a loan to deposit ratio of approximately 55%. In comparison, Columbus United Federal Credit Union has a loan to deposit ratio of 84% which is clearly higher 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. Lastly, Columbus United Federal Credit Union’s loan portfolio mainly consists of auto loans and mortgages and lines of credit which represent 48% and 39% of its loan book and had outstanding balances of $27 million and $22 million, respectively.
Contact and Other Helpful Information
- Main Office Address: P.O. Box 585, Columbus, NE 68602-0585
- Website: http://www.bankingwithyou.com
- Phone: (402) 563-4597
- Charter Number: 24402
- Charter Year: 1990
- Employees: 22
- Routing Number: 304982196
- Membership: Credit unions in the state of Nebraska have an average membership base of 9,421 compared with Columbus United Federal Credit Union which has total members of 7,836. Over the past three years, the credit union’s total base of members has declined by 0%.
Columbus United Federal Credit Union: Financial Overview
Detailed above is a chart showing the progression of four important balance sheet items over the past year for Columbus United Federal Credit Union. Assets and total loans for the credit union have increased by 5.0% and expanded by 0.3%, respectively. In addition, the company’s auto loans, which as noted earlier is the largest portion of the loan book, has declined by 10.4%. Lastly, the credit union’s deposits have expanded by 9.8%. 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, Columbus United Federal Credit Union’s net worth stands at $7 million. This implies that the credit union has a net worth per member of $934 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 Columbus United Federal Credit Union is below the average credit union in its peer set and over the past year ROA has improved with a total change of 0.13%. Return on assets tells us how productive a company is being with its asset base. 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 Columbus United Federal Credit Union its delinquency rate is below 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 9.4% and has been relatively stable compared with the prior year figure of 9.6%. The credit union is also below its peer group average of 10.2% on this metric. Finally, based on the NCUA guidelines, the company’s net worth ratio would classify it as well capitalized.
In conclusion, when we look at all the various factors and data we give Columbus United Federal Credit Union a 2.1 out of 5.0 rating, which we consider to be below 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.