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Cannon Credit Union

Overview
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Cannon Credit Union is a federal credit union based in Clovis, New Mexico. It has been opened since 1952, for 68 years.

With around $66,500,000 in assets, Cannon Credit Union is considered to be a large credit union. It has 2 branches and 2 ATM locations.

About
Address Po Box 2080
Clovis, New Mexico 88102
Website http://www.cannonfcu.org
Phone (575) 791-3353
Fax (575) 791-5287
CEO Heather Fowler
President of the Board George Jones
Services Offered
Map
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Score Card
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68 years
Years in business
Opened in 1952
Well Capitalized
Net worth classification
Source: NCUA
7,439 members
Membership type: Multiple common bond – primary military
Above average number of members
354:1
Credit union member to staff ratio
354 per each FTE employee
Compared to 411:1 nationally
Average number of staff
$66,503,543
Total assets
Above average
2 branches
Compared with an average of 4 nationally and 3 in New Mexico
Above average number of branches
0.25%
Savings interest rate
Compared to 0.3% nationally
10.61%
Unsecured credit card loan interest rate
Compared to 10.8% nationally
Branches
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2 branches
Compared with an average of 4 nationally and 3 in New Mexico
Above average number of branches
Cannon Credit Union Branch Locations

Cannon Federal Credit Union
4205 North Prince Street
Clovis, New Mexico 88101
ATM Available
Cannon Credit Union: Cafb
102 S. Air Commando Way
Cannon Afb, New Mexico 88103
ATM Available
Members
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7,439 members
Membership type: Multiple common bond – primary military
Above average number of members

With 7,439 members, the Cannon Credit Union is considered to be a large credit union. It is larger than 65% of credit unions.

Fees
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$85
Average fee per member
The average fee per member at the Cannon Credit Union is $85, which is high compared to most credit unions. This rate is higher than 77% of all credit unions.
Fees are higher than average

Credit unions, like banks, charge members various fees, such as overdraft fees, ATM fees, credit card fees, inactivity or dormat account fees, and more.

The average fee per member gives you a general sense of how much you might pay in fees as a member of the Cannon Credit Union. Some credit unions tend to charge more fees, while others charge less.

Staff
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354:1
Credit union member to staff ratio
354 per each FTE employee
Compared to 411:1 nationally
Average number of staff
21 staff members
FTE (full-time equivalent)
9% of employees are part-time
20 full-time, 2 part-time

Cannon Credit Union has 20 full-time staff members and 2 part-time staff members. The staff is predominantly comprised of full-time staff, at approximately 91% of the workforce.

The number of members relative to staff members is an indication of how well staffed the credit union is. Cannon Credit Union has around 354 members per staff, an average ratio compared to other credit unions. This is a somewhat well staffed credit union.

Assets
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$66,503,543
Total assets
Above average
Net worth
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Well Capitalized
Net worth classification
Source: NCUA
A well capitalized credit union has a net worth ratio of 7% or greater and also meets applicable risk-based net worth requirements, according to the National Credit Union Administration.
8.3%
Net worth ratio
A higher net worth ratio is better.
Compared to an average of 13.6% nationally

A credit union's net worth ratio is one of the most important metrics you should consider when deciding whether to join a credit union. Why? It's a measure of financial strength

The net worth ratio is equal to a credit union's net worth divided by its assets. According to the National Credit Union Administration, a minimum net worth ratio of 7% is required to be considered to be a well capitalized credit union.

Loans & leases
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$8,474
Average loan and lease size
Loan & lease sizes are small. They are smaller than at 65% of credit unions.

Cannon Credit Union holds a total of $33,900,000 in loans and leases, which is about $8,474 per member on average.

Savings interest rate
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0.25%
Savings interest rate
Compared to 0.3% nationally

A credit union share account is an account at a credit union. It's called a share account because the credit union is member owned and as a result, members own shares in the credit union.

A share savings account pays you interest on your savings, similar to a savings account at a bank. The interest you receive can vary. Cannon Credit Union pays 0.25%.

Loan rates
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10.61%
Unsecured credit card loan interest rate
Compared to 10.8% nationally
11.23%
Unsecured non-credit card loan interest rate
Compared to 11.2% nationally
6.58%
Other secured non-real estate loans and lines of credit interest rate
Compared to 5.3% nationally
Car loan rates
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4.41%
New car loan rate
Compared to 4.0% nationally
6.53%
Used car loan rate
Compared to 5.2% nationally
Mortgage rates
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5.83%
Mortgage rate (secured by 1st lien)
Compared to 3.3% nationally
6.90%
Other real estate loan rates
Compared to 0.9% nationally