Overview of First Service Credit Union

First Service Credit Union has been operating for 45 years, having first been established in the year 1977. The credit union mainly focuses on the provision of auto loans which represent 58% of its loans outstanding. In terms of its overall asset base, First Service Credit Union is larger than 90% of credit unions in the country. First Service Credit Union’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 First Service Credit Union’s operations. The company has a total of 11 branches and employs a total of 194 employees.

Details on the Credit Union’s Balance Sheet

The credit union has total assets of $848 million. It has a deposit base of $737 million which works out to $10,817 of deposits per member compared with the state-wide average of $12,257 and national average of $13,595. First Service Credit Union also has net loans outstanding of $706 million. In addition, the credit union has a loan to deposit ratio of 96%, which is higher than its peer group average of 74%. Generally speaking, a lower loan to deposit ratio is better as it implies that the credit union is funding more of its lending activities with deposits. Moving on to the credit union’s loan portfolio, it mainly consists of the following: auto loans make up 58% of the portfolio and there is a total of $409 million outstanding and mortgages and lines of credit comprises 21% of the loan book and there is a total of $151 million outstanding.

Contact and Other Helpful Information

  • Main Office Address: Po Box 941914, Houston, TX 77094
  • Website: https://www.fscu.com
  • Phone: (713) 676-4344
  • Charter Number: 68605
  • Charter Year: 1977
  • Employees: 194
  • Routing Number: 313090561
  • Membership: On average, credit unions in Texas each have 22,703 members while across the United States the equivalent figure is 25,779. By comparison, First Service Credit Union has total members of 68,150 which is significantly larger than the average credit union in the state. Over the past two years, the credit union’s total membership has increased by 4%.

First Service Credit Union: Financial Overview

first service credit union-balance-sheet-metrics

As shown in the above chart, First Service Credit Union’s assets have expanded by 7.9% over the past year, while its auto loans – which is its largest category of lending – have decreased by 1.8% over the past year. Furthermore, the company’s deposits have expanded by 9.4% while its total loans have expanded by 9.8%. 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. First Service Credit Union has a total net worth of $89 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 $1,307 which is below the national average of $1,606.

Overview of the Credit Union’s Performance Metrics

first service 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. Starting with the company’s return on assets, on this metric First Service Credit Union is well above the average credit union in its peer set and over the past year ROA has improved substantially with a total change of 0.68%. Return on assets tells us how productive a company is being with its asset base. 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 approximately inline with 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. The net worth ratio for the credit union is 10.5% and has improved substantially compared with the prior year figure of 9.9%. The credit union is also well above its peer group average of 9.8% on this metric. Finally, based on the NCUA guidelines, the company’s net worth ratio would classify it as well capitalized.


Ultimately, after considering all of the relevant factors we rate First Service Credit Union 2.7 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.