Encurage Financial Network Credit Union
Our records indicate that this credit union has been acquired by GREAT LAKES.
Headquarters
8430 W Bryn Mawr Ave, Suite 500
Chicago, IL 60631
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2024 Overview
General Credit Union Information
Encurage Financial Network is an NCUA insured institution located in Chicago, IL. It was founded in 1936 and has approximately $221.72 millions in assets.
| NCUA Insured | Yes / State-Chartered |
| Charter Number # | # 68450 |
| Date Established | 1936 |
| Assets | $221.72 million |
| Loans | $194.33 million |
| Deposits | $156.69 million |
| Capital | $15.40 million |
Field of Membership Restrictions
First Financial Credit Union of Illinois is open to the residents and the people that maintain employment within the north end area of Chicago; within the perimeters of the designated geographical field that is explained in detail on the credit union website, employees of the credit union affiliated select employee groups, and the direct family members of the current credit union members.
Deposit Rates - November 13, 2024
Your Current Location: Ohio, OH 43085
| Savings and Money Market Rates (Share Account Rates) | APY | MIN | MAX | |
|---|---|---|---|---|
| Savings
|
0.10% | $2,500 | $4,999 |
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|
|
Money Market
|
0.50% | $2,500 | $2,999 |
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|
|
Money Market
|
0.50% | $10,000 | $14,999 |
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|
|
Money Market
|
0.65% | $25,000 | $29,999 |
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|
| CD Rates (Share Certificate Rates) | APY | MIN | MAX | |
|---|---|---|---|---|
| 12 Mo CD
|
0.65% | $10,000 | $14,999 |
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|
| 12 Mo CD
|
0.65% | $100,000 | $199,999 |
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|
| 18 Mo CD
|
0.75% | $10,000 | $14,999 |
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|
| 18 Mo CD
|
0.75% | $100,000 | $199,999 |
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|
| 24 Mo CD
|
0.89% | $10,000 | $14,999 |
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|
| 24 Mo CD
|
0.89% | $100,000 | $199,999 |
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|
| 36 Mo CD
|
0.95% | $10,000 | $14,999 |
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|
| 36 Mo CD
|
0.95% | $100,000 | $199,999 |
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|
| 48 Mo CD
|
1.00% | $10,000 | $14,999 |
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|
| 48 Mo CD
|
1.00% | $100,000 | $199,999 |
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|
| Variable IRA Rates | APY | MIN | MAX | |
|---|---|---|---|---|
| Var IRA
|
0.10% | $1 | $499 | Learn More |
Loan Rates - November 13, 2024
Your Current Location: Ohio, OH 43085
There are currently no loan rates available for Encurage Financial Network
Please contact the bank for questions about their loan products. In the meantime you may wish to consider these offerings:
Featured - Ohio 30 Year Fixed Mortgage Rates 2024
| Lender | APR | Rate (%) | Points | Fees | Monthly Payment |
Learn More |
|---|---|---|---|---|---|---|
NMLS ID: 2262032 License#: RM.804810.000 |
6.380% | 6.250% | 0.88 | $4,400 | $1,971 | Learn More |
NMLS ID: 2578474 |
6.494% | 6.375% | 0.88 | $4,010 | $1,997 | Learn More |
NMLS ID: 1025894 |
6.865% | 6.750% | 1.00 | $3,775 | $2,076 | Learn More |
NMLS ID: 3030 |
7.225% | 7.125% | 1.00 | $3,200 | $2,156 | Learn More |
Featured - Ohio Home Equity Line Of Credit Rates 2024
| Lender | APR (%)? | Monthly Payment? | Learn More |
|---|---|---|---|
Third Federal Savings and Loan See Table |
Intro APR 7.490 % After Intro: 7.490 % |
$0 |
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More Info |
Note to Encurage Financial Network
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Branches
Below are Encurage Financial Network branches and locations in your neighborhood. Input a different zip code to find branches and locations for any neighborhood in the United States.
Your Location:
Columbus,Ohio
Encurage Financial Network Locations around zip code 43085
| Branch | Distance | Map | View Lobby Hours |
|---|---|---|---|
| 285.26 | A | View Lobby Hours | |
| 286.07 | B | View Lobby Hours | |
| 289.76 | C | View Lobby Hours | |
| 294.36 | D | View Lobby Hours |
Climate Policy and Initiatives
ENCURAGE FINANCIAL NETWORK is encouraged to provide us with this information. When we receive this information from the credit union, we will provide it here.
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Financial Details
Encurage Financial Network Ratio Analysis
The following ratios and data are available to help you better understand the financial condition of Encurage Financial Network. The data is provided by the NCUA. All credit unions on BestCashCow, except those specified as not NCUA-insured in the overview section above, are NCUA-insured. Depositors should be careful to remain within NCUA insurance limits.
Texas Ratio
| Encurage Financial Network | U.S. Average |
|---|---|
| 31.47% | 5.83 |
The Texas Ratio compares the amount of loans at risk and assets repossessed with the amount a credit union has on hand to cover any losses. The closer the Texas Ratio is to 1-to-1 or 100%, the less capital and reserves a credit union has to absorb its loan losses.
As of June 30, 2024, Encurage Financial Network had $5,171,883 in non-current loans and $0 in owned assets. To cover these potential losses it had $15,395,330 in net worth and $1,037,231 in loans loss reserves. That gives it a Texas Ratio of 31.47%.
Net Worth
| Encurage Financial Network | U.S. Average |
|---|---|
| 6.93% | 13.93% |
Encurage Financial Network FCU has a net worth of 6.93% versus the BestCashCow average of 13.93. Net worth measures how much total assets exceed total liabilities. The higher the net worth number the more secure a credit union is considered.
Customer Reviews for Encurage Financial Network
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