Centricity Credit Union

Credit Union banking service programs: the Credit Union offers a full range of banking services to the members. As of 12/31/2023 our members and non-members had $194,170,027 on deposit in the Credit Union. The Credit Union had $103,801,038 in savings accounts, $40,232,555 in checking accounts, $24,707,894 in money market, and $19,470,958 in certificates of deposit. The average rate of return on savings accounts at year end was .12%. Money market accounts earned an average of .47% at year end. Non-ira certificates earned 2.11% at year end. The Credit Union began the year with 18,645 members and ended the year with 18,282 for a decrease of 363 members.

Credit Union lending: the Credit Union exists to provide loans to its members at rates and terms not available to our field of membership through banks or other financial institutions. The largest portion of our lending is made up of used vehicle loans. The Credit Union had $63,375,917 in used auto loans outstanding at december 31, 2023. Used auto loans represent 33.23% of all outstanding loans at december 31, 2023. The Credit Union had $30,852,020 in outstanding first home loans as of 12/31/2023. They represent 16.17% of our loan portfolio and 12.66% of our total assets. The average offering rate at december 31, 2023 for first mortgage loans was 6.38%. The total loan portfolio increased $17,709,047 during 2023. The delinquency ratio for the portfolio at year end was .79%.