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Genco Credit Union

Overview
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Genco Credit Union is a federal credit union based in Waco, Texas. It has been opened since 1953, for 67 years.

With around $302,790,000 in assets, Genco Credit Union is considered to be a very large credit union. It has 5 branches and 5 ATM locations.

About
Address P. O. Box 7246
Waco, Texas 76714
Website http://gencofcu.org
Phone (254) 776-9550
Fax (254) 776-4633
CEO Neil Ling
President of the Board Robert Black
Services Offered
Map
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Score Card
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67 years
Years in business
Opened in 1953
Well Capitalized
Net worth classification
Source: NCUA
38,380 members
Membership type: Community credit union
Above average number of members
410:1
Credit union member to staff ratio
410 per each FTE employee
Compared to 411:1 nationally
Fewer staff
$302,790,310
Total assets
Above average
5 branches
Compared with an average of 4 nationally and 3 in Texas
Above average number of branches
0.38%
Savings interest rate
Compared to 0.3% nationally
9.30%
Unsecured credit card loan interest rate
Compared to 10.8% nationally
Branches
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5 branches
Compared with an average of 4 nationally and 3 in Texas
Above average number of branches
Genco Credit Union Branch Locations

Genco Credit Union: Valley Mills
731 North Valley Mills Drive
Waco, Texas 76710
ATM Available
Genco Credit Union: Lufkin
1402 S. John Redditt Drive
Lufkin, Texas 75904
ATM Available
Genco Credit Union: Woodway
105 Archway Drive
Woodway, Texas 76712
ATM Available
Genco Credit Union: Northeast
1500 North Loop 340
Waco, Texas 76705
ATM Available
Genco Credit Union: Lorena
230 North Frontage Road
Lorena, Texas 76655
ATM Available
Members
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38,380 members
Membership type: Community credit union
Above average number of members

With 38,380 members, the Genco Credit Union is considered to be a very large credit union. It is among the largest of credit unions and is larger than 89% of credit unions.

Fees
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$132
Average fee per member
The average fee per member at the Genco Credit Union is $132, which is very high compared to most credit unions. This rate is higher than 93% 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 Genco Credit Union. Some credit unions tend to charge more fees, while others charge less.

Staff
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410:1
Credit union member to staff ratio
410 per each FTE employee
Compared to 411:1 nationally
Fewer staff
94 staff members
FTE (full-time equivalent)
11% of employees are part-time
88 full-time, 11 part-time

Genco Credit Union has 88 full-time staff members and 11 part-time staff members. The staff is predominantly comprised of full-time staff, at approximately 89% of the workforce.

The number of members relative to staff members is an indication of how well staffed the credit union is. Genco Credit Union has around 410 members per staff, a higher ratio compared to other credit unions.

Assets
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$302,790,310
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.
12.2%
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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$11,542
Average loan and lease size
Loan & lease sizes are bigger than average. They are bigger than at 61% of credit unions.

Genco Credit Union holds a total of $212,850,000 in loans and leases, which is about $11,542 per member on average.

Savings interest rate
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0.38%
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. Genco Credit Union pays 0.38%.

Loan rates
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9.30%
Unsecured credit card loan interest rate
Compared to 10.8% nationally
11.12%
Unsecured non-credit card loan interest rate
Compared to 11.2% nationally
5.00%
Other secured non-real estate loans and lines of credit interest rate
Compared to 5.3% nationally
Car loan rates
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3.80%
New car loan rate
Compared to 4.0% nationally
4.13%
Used car loan rate
Compared to 5.2% nationally
Mortgage rates
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4.30%
Mortgage rate (secured by junior lien)
Compared to 3.4% nationally
4.30%
Mortgage rate (secured by 1st lien)
Compared to 3.3% nationally