DNCU Among Healthiest Credit Unions In America

FINANCIAL News:

Del Norte Credit Union is ranked among the Top 200 Healthiest Credit Unions in America.

DepositAccounts has just released the 2015 edition of the Top 200 Healthiest Credit Unions in America and Del Norte Credit Union has made the list for the second straight year, one of only 66 credit unions to do so out of 6,655 total federally insured credit unions.

Del Norte Credit Union stands out in all of the primary evaluation categories, including:

  •  Texas Ratio – The Texas Ratio is an indicator of how much capital a bank has available compared to the total value of loans considered at risk. As of March 31, 2015 Del Norte Credit Union had $1.51 million in non-current loans and owned real-estate with $60.36 million in equity and loan loss allowances on hand to cover it. This gives Del Norte Credit Union a Texas Ratio of 2.50 percent, which is excellent. Any bank with a Texas Ratio near or greater than 100 percent is considered at risk.

The Texas Ratio for Del Norte Credit Union experienced no significant changes from 1.68 percent as of March 31, 2014 to 2.50 percent as of March 31, 2015, resulting in a negative change of 49.50 percent. This indicates that the balance sheet and financial strength for Del Norte Credit Union has had no significant changes in recent periods.

  • Deposit Growth, and Capitalization – In the past year, Del Norte Credit Union has increased its total deposits by $16.48 million, resulting in 3.97 percent growth for the year. A strong track record of growth is an indicator of consumer confidence and the bank’s ability to strengthen its balance sheet. The growth Del Norte Credit Union has shown is excellent.

Both FDIC and NCUA consider capitalization levels of banks and credit unions to be of high importance. Higher capitalization allows for a greater buffer when cover loans that may fail in the future. Del Norte Credit Union has $494.32 million in assets with $60.36 million in equity, resulting in a capitalization level of 12.21 percent, which is excellent.

A more detailed breakdown of Del Norte Credit Union’s score may be found in the health section of its dedicated bank page at www.depositaccounts.com/banks/del-norte-cu.html#health.

Del Norte Credit Union is headquartered in Santa Fe and is the 6th largest credit union in the state of New Mexico. It is also the 485th largest credit union in the nation. It was established in 1954 and as of March of 2015, it had grown to 115 employees and 42,934 members. Del Norte Credit Union has an A+ health rating.

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