2024 Overview
General Credit Union Information
Ideal is an NCUA insured institution located in Woodbury, MN. It was founded in 1926 and has approximately $1021.67 millions in assets.
Who can join?
If you live, work, worship, attend school, or volunteer in, or have business or other legal entity located in Anoka, Chisago, Dakota, Hennepin, Ramsey or Washington counties. Anyone living outside of these areas, but makes a $5.00 donation to the John D. Miller Foundation is also eligible for membership.
Employment Eligibility
If you are an employee of the United States Postal Service, you are eligible to join. Other employees of the US Postal Service in Minnesota who do not have a credit union operating within their immediate employee group may join as well. In addition, person employed in or administered from the Main Post Office or employees of PCU can apply for membership.
Family Eligibility
Relatives of current PCU members are able to join the credit union.
| NCUA Insured | Yes / State-Chartered |
| Charter Number # | # 62978 |
| Date Established | 1926 |
| Assets | $1,021.67 million |
| Loans | $822.62 million |
| Deposits | $841.06 million |
| Capital | $110.08 million |
Field of Membership Restrictions
Ideal Credit Union of Minnesota is open to the businesses, accredited institutions, residents, church members, registered students, and the people that maintain employment within these qualified counties: Anoka, Chisago, Dakota, Hennepin, Ramsey, and Washington, along with all employees and affiliated employees of the US Postal Service; including those postal employees within the state that are not currently represented by a credit union, anyone that donates to the John D. Miller Foundation, credit union employees, and the family members of current credit union members. family members of current credit union members.
Deposit Rates - November 17, 2024
Your Current Location: Ohio, OH 43085
| Savings and Money Market Rates (Share Account Rates) | APY | MIN | MAX | |
|---|---|---|---|---|
| Savings
|
0.05% | $2,500 | $4,999 |
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|
|
Money Market
|
0.25% | $2,500 | $2,999 |
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|
|
Money Market
|
0.25% | $10,000 | $14,999 |
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|
|
Money Market
|
0.30% | $25,000 | $29,999 |
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|
| CD Rates (Share Certificate Rates) | APY | MIN | MAX | |
|---|---|---|---|---|
| 6 Mo CD
|
0.35% | $10,000 | $14,999 |
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|
| 6 Mo CD
|
0.55% | $100,000 | $199,999 |
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|
| 12 Mo CD
|
0.50% | $10,000 | $14,999 |
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|
| 12 Mo CD
|
0.70% | $100,000 | $199,999 |
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|
| 18 Mo CD
|
0.65% | $10,000 | $14,999 |
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|
| 18 Mo CD
|
0.85% | $100,000 | $199,999 |
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|
| 24 Mo CD
|
0.75% | $10,000 | $14,999 |
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|
| 24 Mo CD
|
0.95% | $100,000 | $199,999 |
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|
| 30 Mo CD
|
0.80% | $10,000 | $14,999 |
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|
| 30 Mo CD
|
1.00% | $100,000 | $199,999 |
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|
| 36 Mo CD
|
0.90% | $10,000 | $14,999 |
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|
| 36 Mo CD
|
1.11% | $100,000 | $199,999 |
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|
| 48 Mo CD
|
1.11% | $10,000 | $14,999 |
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|
| 48 Mo CD
|
1.31% | $100,000 | $199,999 |
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|
| 60 Mo CD
|
1.16% | $10,000 | $14,999 |
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|
| 60 Mo CD
|
1.36% | $100,000 | $199,999 |
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|
| Variable IRA Rates | APY | MIN | MAX | |
|---|---|---|---|---|
| Var IRA
|
0.05% | $1 | $499 | Learn More |
| Fixed IRA Rates | APY | MIN | MAX | |
|---|---|---|---|---|
| Fixed IRA
|
0.50% | $1 | $999 | Learn More |
| Int Checking Rates | APY | MIN | MAX | |
|---|---|---|---|---|
| Int Ckg
|
0.05% | $2,500 | $3,499 | Learn More |
Loan Rates - November 17, 2024
Your Current Location: Ohio, OH 43085
There are currently no loan rates available for Ideal
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: 1835285 |
6.494% | 6.375% | 0.75 | $4,000 | $1,997 | Learn More |
NMLS ID: 1025894 |
6.868% | 6.750% | 1.00 | $3,884 | $2,076 | Learn More |
NMLS ID: 1907 |
7.181% | 7.125% | 0.63 | $1,802 | $2,156 | 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 |
Learn More
More Info |
Note to Ideal
To upload and update your bank's rates please register.
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Branches
Below are Ideal 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
Ideal Locations around zip code 43085
| Branch | Distance | Map | View Lobby Hours |
|---|---|---|---|
| 628.92 | A | View Lobby Hours | |
| 631.46 | B | View Lobby Hours | |
| 633.85 | C | View Lobby Hours | |
| 635.04 | D | View Lobby Hours | |
| 635.27 | E | View Lobby Hours | |
| 641.30 | F | View Lobby Hours |
Climate Policy and Initiatives
IDEAL 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
Ideal Ratio Analysis
The following ratios and data are available to help you better understand the financial condition of Ideal. 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
| Ideal | U.S. Average |
|---|---|
| 6.76% | 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, Ideal had $7,692,043 in non-current loans and $77,684 in owned assets. To cover these potential losses it had $110,084,694 in net worth and $4,860,002 in loans loss reserves. That gives it a Texas Ratio of 6.76%.
Net Worth
| Ideal | U.S. Average |
|---|---|
| 10.81% | 13.93% |
Ideal FCU has a net worth of 10.81% 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 Ideal
Linda Bryan
March 13, 2019 |
Ideal Credit Union is a local treasure. Although it is primarily made up of the old St. Paul Postal CU, it also subsumed the North St. Paul School District Employees' CU many years ago. It has generous eligibility options so don't feel that you have to be a postal worker to bank here. There are a string of branches now, generally in a line along the east side of the Twin Cities Metro Area.
One of its best features is that it offers "special" CDs that allow you to cash out before the due date without penalty. I have recently purchased two of these, the best rates around my area. If you compare its CD rates to local bank rates, you will want to join the Ideal CU immediately. They give away great free pens, have good employees, pretty good hours, and a good social conscience (a couple years ago, they collected money for the Puerto Rico hurricane, for example, and they have employee casual days that pay for charitable donations). This is a good institution, an example of the Upper Midwest history of creating cooperatives as an alternative to for-profit businesses.
Warning: if you want to take out an account or make some changes to your account, plan to spend some time at it. These guys are thorough and you need to take that into account. You can do a lot of the work on the phone, though.
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