Introduction to Oakdale Credit Union
Oakdale Credit Union officially got its credit union charter in the year 1953. The credit union falls under the category: state charter. In terms of its lending activity, the credit union is mainly engaged in providing mortgages and lines of credit. These loans represent 49% of its total lending. Oakdale Credit Union’s total assets are larger than 65% 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 3 branches and employs a total of 23 employees.
Details on the Credit Union’s Balance Sheet
The credit union currently has total assets of $104 million, total deposits of $96 million and net loans outstanding of $59 million. On average its members had a total of $8,596 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. In addition, the credit union has a loan to deposit ratio of 62%, which is lower than its peer group average of 63%. 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. Taking a closer look at the credit union’s loan portfolio, we see that mortgages and lines of credit represent 49% of the total and currently stands at $29 million, while there is $21 million of loans outstanding from auto loans which represents 35% of the credit union’s loan portfolio.
Contact and Other Helpful Information
- Main Office Address: P.O. Box 115, Oakdale, WI 54649
- Website: http://oakdalecu.coop
- Phone: (608) 372-3939
- Charter Number: 67200
- Charter Year: 1953
- Employees: 23
- Routing Number: 275980926
- Membership: Oakdale Credit Union has a membership base of 11,153 which is significantly smaller than the average credit union operating in the state of Wisconsin. The average credit union in the state has 30,757 members. Over the past three years, the credit union’s total base of members has increased by 2%.
Oakdale Credit Union: Financial Overview
The above chart summarizes the trends in key balance sheet items for Oakdale 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 grown by 20.5% while its total loans have grown by 3.4%. In addition, the company’s mortgages and lines of credit have increased by 3.4% while its deposits have expanded by 24.5%. 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. Oakdale Credit Union has a total net worth of $8 million. This implies that the credit union has a net worth per member of $707 which is below the national average of $1,606.
Overview of the Credit Union’s Performance Metrics
In the above chart we have displayed three statistics that are important in evaluating a credit union’s performance and shown how Oakdale Credit Union compares on these metrics, in addition to detailing how the credit union performed on each metric in the prior year. Starting with the company’s return on assets, on this metric Oakdale Credit Union is below the average credit union in its peer set and over the past year ROA has declined with a total change of 0.23%. 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 Oakdale 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 7.6% and has declined compared with the prior year figure of 8.6%. The credit union is also below 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.
Conclusion
Overall, we believe Oakdale Credit Union deserves a rating of 2.0 out of 5.0, which is below average. As a final note, please remember that our rating is the product of a proprietary scoring methodology which uses nationwide data for credit unions and our survey work. Importantly, none of the work presented herein is intended to be investment advice or advice of any sort and is presented purely for informational purposes.