Introduction to Grfcu

First established in 1999, Grfcu is a credit union based in the state of Minnesota and also one of the largest credit unions in the country. It is the 25th largest credit union operating in the state of Minnesota as measured by total assets. The credit union falls under the category: multiple group – other. Unlike banks, credit unions like Grfcu are not insured by the Federal Deposit Insurance Corporation (FDIC) but instead receive deposit insurance from the National Credit Union Administration (NCUA), which operates in a similar fashion to the FDIC. The company has a total of 7 branches and employs a total of 71 employees.

Discussion of the Credit Union’s Operations

The credit union currently has total assets of $250 million, total deposits of $226 million and net loans outstanding of $175 million. On average its members had a total of $13,986 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 77% which is higher than credit unions of comparable size. Grfcu’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. Moving on to the credit union’s loan portfolio, it mainly consists of the following: mortgages and lines of credit make up 48% of the portfolio and there is a total of $84 million outstanding and auto loans comprises 22% of the loan book and there is a total of $39 million outstanding.

Contact and Other Helpful Information

  • Main Office Address: 1532 W Saint Germain, Saint Cloud, MN 56301-4129
  • Website:
  • Phone: (320) 252-5393
  • Charter Number: 24632
  • Charter Year: 1999
  • Employees: 71
  • Routing Number: 291975672
  • Membership: The credit union has a membership base of 16,186 which is significantly smaller than the average credit union operating within the state. Credit unions in Minnesota each have on average 21,297 members. Over the past three years, the credit union’s total base of members has increased by 9%.

Grfcu: Financial Overview


Detailed above is a chart showing the progression of four important balance sheet items over the past year for Grfcu. Assets and total loans for the credit union have expanded by 12.3% and increased by 13.3%, 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 48.1%. Lastly, the credit union’s deposits have increased by 17.0%. 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. Grfcu has a total net worth of $21 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 $1,325 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. Beginning with Grfcu’s return on assets (aka ROA), on this statistic the credit union performs approximately inline with the average comparable credit union. When we look at the year over year trends, we can see that ROA has improved given the 0.15% change. A credit union’s ROA is a good way of assessing how well the entity is using its assets to generate returns. 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. Grfcu 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. Finally, the net worth ratio for the credit union is 8.6% which is below its peer group average of 9.7%. This metric has declined on a year over year basis and stood at 9.0% a year ago. Based on the NCUA guidelines, the credit union is considered to be well capitalized.


Overall, we believe Grfcu deserves a rating of 3.1 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.