Performance Comparison

• Stability and Earnings

  The safety and soundness of a financial institution is a vital component of economic stability. Stability is becoming more important to members every day as we all navigate through these volatile economic waters. The charts below provide an overview of financial institutions in the Fairbanks area; see how we compare! For more information, please visit the State of Alaska Department of Commerce’s Comparative Statement of Banks and Credit Unions in Alaska. Also, our Bauer Rating is a good measure of our stability and soundness.

  • Return on Asset

    

    This is the most common ratio used to evaluate the level of earnings for all financial institutions. Because it divides the earnings by the average assets, it can be used to compare small and large financial institutions. ROA shows how much money a financial institution is making off of its customers/members. If the ROA is too high, it could mean the frinancial institution is making excess profits at the expense of its customers/members. If the ROA is too low, it could mean the financial institution is not sufficiently funding its financial needs and if ROA remains low for too long, it could lead to failure. SoAFCU feels an ROA of anywhere from .8% to 1.0% is optimal to insure ongoing stability to the financial institution and minimize financial burden to the member.ately passed on to the member through better rates and/or lower fees.

  • Net Worth

    

    Net Worth is a common measure used to indicate the health of a financial institution. Low Net Worth ratios may indicate an unstable Financial Institution. For credit unions, 7% is considered a low Net Worth ratio and will cause additional regulatory action from the NCUA through their Prompt Corrective Act program. If a Net Worth ratio is too high, it means assets are not being leveraged as much as possible and may result in lower earnings, which could require more money be generated through customer/member transactions. There is currently legislation being reviewed which would encourage credit unions to reach a Net Worth level of 11%.

  • Interest Margin

    

    Note: SoAFCU is right in line with the industry target for Interest Margin.

  • Charge Offs

    

    Note: SoAFCU has one of the lowest charge off rates on loans.

• Services and Products

  We offer a variety of accounts and services to fit the needs of anyone! Take a look at some of the services we offer and how they measure up to other competing institutions.

  • Options for Free Checking

    Financial Institution	Free Checking?	Account Requirements As of March 24, 2011
    Spirit of Alaska	Yes	Choice Checking/miMoney Checking Enroll in e-Docs and e-Statements Basic Checking $500 minimum deposit $5 per month with smaller deposit
    Credit Union A	Yes	Basic Checking $500 minimum deposit $5 per month with smaller deposit
    Credit Union B	Yes	No Requirements
    Credit Union C	Yes	Basic Checking $100 minimum deposit $5 per month with smaller deposit
    Credit Union D	Yes	No Requirements
    Credit Union E	Yes	No Requirements
    Bank A	Yes	No Requirements
    Bank B	Yes	Basic Checking $750 minimum deposit $3 per month with smaller deposit
    Bank C	Yes	No Requirements
    Bank D	Yes	Paper Statements
    Bank E	Yes	Paper Statements
    Bank F	Yes	No Requirements

  • Overdraft Protection

    

    One thing not identified in this chart is the fact that SoAFCU does not charge for NSF checks until the Overdraft is greater than $10. In addition, although all FIs charge on a per item basis, SoAFCU is the only one that does not charge for more than 4 items per day. Most other Financial Institutions have unlimited charging parameters.

  • Coin Counting Services

    Financial Institution	Coin Counting Services
    Spirit of Alaska	Free for Members! Self-Serve Coin Counting station in every branch. No coin separation or preparation necessary! (9% for non members)
    Credit Union A	Free for Members (May take 24 hours)
    Credit Union B	3% Self-Serve Coin Machine
    Credit Union C	Not Available
    Credit Union D	5% for Members
    Credit Union E	Not Available
    Bank A	Free for Customers (Coins must be separated and may take 24 hours)
    Bank B	Not Available
    Bank C	Free for Customers
    Bank D	Free for Customers
    Bank E	Free for Customers
    Bank F	Not Available
    Retail Location	9% - 10%, no preparation necessary

    SoAFCU is the only financial institution in Fairbanks to offer a coin-counting station at each of its three main branch locations for member use for FREE!

• Rates

  No doubt about it, when it comes to rates, we are leaders in this area! Need proof? See how we stack up against local leading competitors and you’ll see, we are definitely at the top of our game.

  • Checking

    

    SoAFCU is the leader of the market in its new HIGH rate checking account. SoAFCU was also the first financial institution in the market with this type of account. There are some transaction requirements for the high rate.

  • Savings

    

    Note: SoAFCU pays one of the top rates in its market for savings accounts.

  • Time Deposits

    

    Note: SoAFCU pays one of the top rates in its market for Certificates of Deposit.

    

    Note: SoAFCU pays one of the top rates in its market for IRA accounts.