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Laredo Credit Union

Overview
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Laredo Credit Union is a federal credit union based in Laredo, Texas. It has been opened since 1956, for 64 years.

With around $124,910,000 in assets, Laredo Credit Union is considered to be a large credit union. It has 4 branches and 4 ATM locations.

About
Address 1119 Corpus Christi Street
Laredo, Texas 78040
Website http://www.laredofcu.org
Phone (956) 722-3971
Fax (956) 712-3068
CEO Erasmo Ramos Jr.
President of the Board Graciela Botello
Services Offered
Map
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Score Card
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64 years
Years in business
Opened in 1956
Well Capitalized
Net worth classification
Source: NCUA
19,747 members
Membership type: Community credit union
Above average number of members
332:1
Credit union member to staff ratio
332 per each FTE employee
Compared to 411:1 nationally
Lots of staff!
$124,914,613
Total assets
Above average
4 branches
Compared with an average of 4 nationally and 3 in Texas
Above average number of branches
0.10%
Savings interest rate
Compared to 0.3% nationally
Branches
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4 branches
Compared with an average of 4 nationally and 3 in Texas
Above average number of branches
Laredo Credit Union Branch Locations

Laredo Credit Union: South Branch
4170 S. Zapata Highway Suite 1
Laredo, Texas 78046
ATM Available
Laredo Credit Union: Mines Branch
2110 Lowry Road
Laredo
Laredo, Texas 78045
ATM Available
Laredo Credit Union: Mcpherson Branch
7114 Mcpherson Road
Laredo, Texas 78041
ATM Available
Laredo Credit Union: Main Office
1119 Corpus Christi Street
Laredo, Texas 78040
ATM Available
Members
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19,747 members
Membership type: Community credit union
Above average number of members

With 19,747 members, the Laredo Credit Union is considered to be a very large credit union. It is among the largest of credit unions and is larger than 82% of credit unions.

Fees
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$72
Average fee per member
The average fee per member at the Laredo Credit Union is $72, which is high compared to most credit unions. This rate is higher than 68% 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 Laredo Credit Union. Some credit unions tend to charge more fees, while others charge less.

Staff
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332:1
Credit union member to staff ratio
332 per each FTE employee
Compared to 411:1 nationally
Lots of staff!
60 staff members
FTE (full-time equivalent)
11% of employees are part-time
56 full-time, 7 part-time

Laredo Credit Union has 56 full-time staff members and 7 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. Laredo Credit Union has around 332 members per staff, a low ratio compared to other credit unions. This is a well staffed credit union.

Assets
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$124,914,613
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.
10.3%
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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$11,296
Average loan and lease size
Loan & lease sizes are average sized. They are bigger than at 60% of credit unions.

Laredo Credit Union holds a total of $51,730,000 in loans and leases, which is about $11,296 per member on average.

Savings interest rate
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0.10%
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. Laredo Credit Union pays 0.10%.

Loan rates
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10.65%
Unsecured non-credit card loan interest rate
Compared to 11.2% nationally
3.08%
Other secured non-real estate loans and lines of credit interest rate
Compared to 5.3% nationally
Car loan rates
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3.74%
New car loan rate
Compared to 4.0% nationally
5.79%
Used car loan rate
Compared to 5.2% nationally
Mortgage rates
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6.27%
Mortgage rate (secured by junior lien)
Compared to 3.4% nationally
6.57%
Mortgage rate (secured by 1st lien)
Compared to 3.3% nationally
6.84%
Other real estate loan rates
Compared to 0.9% nationally
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