Tag: Credit Union

October 2017: California State & Federal Employees’ Credit Union #20, Eureka, California has earned a coveted 5-Star rating from BauerFinancial, the Nation’s Premier Bank and Credit Union Rating Firm. (A five-star rating indicates this credit union excels in areas of capital adequacy, profitability, asset quality and much more.) California State & Federal Employees’ Credit Union #20 …

October 2017: California State & Federal Employees’ Credit Union #20, Eureka, California has earned a coveted 5-Star rating from BauerFinancial, the Nation’s Premier Bank and Credit Union Rating Firm. (A five-star rating indicates this credit union excels in areas of capital adequacy, profitability, asset quality and much more.) California State & Federal Employees’ Credit Union #20 has earned and maintained this top 5-Star rating for 30 consecutive quarters, and that deserves recognition.

“By earning Bauer’s highest 5-Star rating, California State & Federal Employees’ Credit Union #20 proves to its members and the field of prospective members that it is not only committed to their needs but also to financial discipline,” notes Karen L. Dorway, president of BauerFinancial. “As times change, so do members’ needs. Institutions like California State & Federal Employees’ Credit Union #20 excel at finding ways to meet these ever-changing needs while maintaining financial discipline and prudent underwriting.”

California State & Federal Employees’ Credit Union #20 was established in 1951, and has been providing personal service to its membership for the 66 years since. Today it operates through a conveniently located office on Wabash Avenue in Eureka and can also be found on the internet at www.csfecu20.com.

California State & Federal Employees’ Credit Union #20: “Your 5-Star Credit Union”

Member of the NCUA and an Equal Housing Lender.

BauerFinancial, Inc., Coral Gables, Florida, the nation’s leading independent bank and credit union rating and research firm, has been reporting on and analyzing the performance of U.S. banks and credit unions since 1983. No institution can pay for or opt out of a BauerFinancial rating. Star-ratings are all available for free at bauerfinancial.com.

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BauerFinancial, Inc. P.O. Box 143520, Coral Gables, FL 33114.

Don’t move—improve!

April 6, 2017May 2, 2020

With the cost of real estate these days, moving can be prohibitively expensive. But does that mean you need to settle for an old kitchen, dated bathroom or too-few bedrooms?

Not at all! Rather than moving, more and more people are choosing to improve the home they currently own. And a CSFECU Home Equity Loan or Home Equity Line of Credit can help make that improvement a reality.

Our fixed term, fixed-rate Home Equity Loans have terms from 5 to 15 years, so whether the project is large or larger, you can be comfortable knowing exactly how much you’ll be paying each month in principal and interest. Perfect when you know exactly how much your project will cost.

A Home Equity Line of Credit is a versatile option, with variable rate and flexible draw amounts and timeframes, so you borrow just what you need at any given time and pay interest on only the outstanding balance.

CSFECU Home Equity Loans and Lines of Credit are priced competitively, and come with the personal service you expect from us. Call or visit us today!

Maximize your tax refund

April 6, 2017May 2, 2020

April is the month when Americans get one of two bits of news. We write a check to pay our taxes, or we get a check written to us in the form of a tax refund. If you’re one of the nearly 80% of Americans who receive a refund on your federal income taxes, congratulations! Now, what to do with the unexpected windfall?

Start or increase your emergency fund

It’s not sexy, it’s not glamorous, but an emergency fund is essential. The days of working 40 years for the same company are behind us, so an emergency fund is a vital tool to manage a job loss or to cover an unexpected medical or home expense.

Pay off high-interest debt

Maybe you didn’t have an emergency fund when you needed it…and you had to finance day-to-day living on high-interest loans or credit cards. Use your tax refund to pay down or pay off that debt. Dollars used today to pay down high-interest debt can save you thousands of dollars in the future.

Start or increase your retirement fund

Every day, you are inching closer to retirement. So, what’s your plan? If the answer is “Social Security,” or, “Not sure,” well, put your refund to work on a retirement fund. At CSFECU, Roth or Traditional IRA Certificates can be opened with as little as $100.

Save for something

Seeing a pattern here? Deferred gratification. Put some of your tax refund away for that new car, new computer, self-improvement classes…

Do something for yourself

We aren’t heartless! Yes, if all the basics are covered, take some of your refund and do something for yourself, for today.

Happy tax day!

27 Straight 5-Star Ratings for CSFECU

January 23, 2017May 2, 2020

Recognized as One of the Strongest CUs in the Nation

January 2017: BauerFinancial, the Nation’s Premier Bank and Credit Union Rating Firm congratulates California State & Fed Emp #20 Credit Union, Eureka, California for ringing-in 2017 with its highest 5-Star Superior rating. California State & Federal Employees #20 Credit Union (CSFECU) is no newcomer to Bauer’s 5-Star Rating. In fact, CSFECU has earned this top honor for 27 consecutive quarters.

BauerFinancial has been analyzing and reporting on the nation’s banks and credit unions since 1983… providing ratings you can trust. Earning a 5-Star rating from Bauer indicates that CSFECU is one of the strongest credit unions in the nation. Some of the areas in which it excels are:

Capital – much more than is required by regulators;
Loan Quality – delinquent loan levels are manageable;
Profitability – while not-for-profit, credit unions must consistently remain in the black to ensure continued success.

Karen L. Dorway, president of BauerFinancial, commends California State & Fed Emp #20 Credit Union for maintaining a strong capital position while fulfilling its commitment to solving the financial needs of its members. “California State & Fed Emp #20 Credit Union isn’t pushing products or services on you that you don’t need or want”, says Dorway. “It is there to provide a service and fill a need, which it has been able to do seamlessly while maintaining its pristine health.”

CSFECU was established in 1951 and has been providing quality services to its members ever since. Today, after 66 years, it operates through a conveniently located office on Wabash Avenue in Eureka and can be found on the web at csfecu20.com.

California State & Fed Emp #20 Credit Union: “Your 5-Star Credit Union”

Member of the NCUA and an Equal Housing Lender.

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BauerFinancial, Inc. P.O. Box 143520, Coral Gables, FL 33114.

Special Bonus Dividend: Paying back our members to thank our members!

January 6, 2017May 2, 2020

As a great-big THANK YOU for an amazing 2016—and in recognition of our excellent financial performance in 2016 and the amazing loyalty of our members—we are pleased to announce that every member received a special bonus for the last quarter of 2016.

All regular shares (savings accounts) received a special 0.25% bonus for the calendar quarter October 1 through December 31, 2016. You’ll see it in your January statement.

This is just another example of CSFECU doing our best to give back to our members. When we do well, you do well…and we all do well!

Happy 2017!

CSFECU in Top 2% Healthiest Credit Unions Nationwide

July 14, 2016May 2, 2020

California State & Federal Employees Credit Union has been recognized as one of the 200 Healthiest Credit Unions in the nation. As determined by DepositAccounts.com, California State & Federal Employees Credit Union ranks #117 out of 6,003 credit unions nationwide.

Each year DepositAccounts.com, the largest online publication in the U.S. dedicated to banking information for consumers, evaluates the financial health of every federally insured credit union in the U.S. Each institution is graded on a number of factors, including capitalization, deposit growth, and loan to reserve ratios, in order to determine a comprehensive health score.

From the list of 6,003 credit unions, DepositAccounts.com recognizes those who have shown exceptional fiduciary responsibility in its 2016 edition of the Top 200 Healthiest Credit Unions in America.

Let’s take a look at the California State & Federal Employees Credit Union score components:

TEXAS RATIO: A+

The Texas Ratio is an indicator of how much capital a credit union or bank has available compared to the total value of loans considered at risk. As of March 31, 2016 California State & Federal Employees Credit Union had $111,000 in non-current (Delinquent) loans and owned real-estate with $18.5 million in equity and loan loss allowances on hand to cover it. This gives California State & Federal Employees Credit Union a Texas Ratio of 0.60%, which is Excellent! Any bank or credit union with a Texas Ratio near or greater than 100% is considered at risk.

TEXAS RATIO TREND: C+

The Texas Ratio for California State & Federal Employees Credit Union experienced no significant changes from 0.30% as of March 31, 2015 to 0.60% as of March 31, 2016, resulting in a negative change of 102.30%. This indicates that the balance sheet and financial strength for California State & Federal Employees Credit Union has had no significant changes in recent periods.

DEPOSIT GROWTH: B+

In the past year, California State & Federal Employees Credit Union has increased its total deposits by $2.52 million, resulting in 2.34% growth for the year. A strong track record of growth is an indicator of consumer confidence and the credit union or bank’s ability to strengthen its balance sheet. The growth of California State & Federal Employees Credit Union has shown is above average.

CAPITALIZATION: A+

Both FDIC and NCUA consider capitalization levels of credit unions and banks to be of high importance. Higher capitalization allows for a greater buffer to cover loans that may fail in the future. California State & Federal Employees Credit Union has $128.31 million in assets with $18.5 million in equity, resulting in a capitalization level of 14.42%, which is Excellent!

CSFECU Earns Bauer’s Elite 5-Star Rating

December 3, 2015May 2, 2020

December 2015: California State & Federal Employees Credit Union (CSFECU), Eureka, California’s achievement of BAUERFINANCIAL’s coveted 5-Star Superior rating puts it in an elite category as one of the strongest credit unions in the nation, excelling in such areas as capital, loan quality, profitability and more. Continue reading “CSFECU Earns Bauer’s Elite 5-Star Rating”