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Lu 354 I B E W Credit Union

Overview
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Lu 354 I B E W Credit Union is a federal credit union based in Salt Lake City, Utah. It has been opened since 1954, for 66 years.

With around $26,540,000 in assets, Lu 354 I B E W Credit Union is considered to be an average size credit union.

About
Address 3405 W. 1987 S.
Salt Lake City, Utah 84104
Website http://www.ibewfcu.org
Phone (801) 975-9693
Fax (801) 975-9698
CEO Linda J. Perschon
President of the Board James Starkie
Services Offered
Map
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Score Card
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66 years
Years in business
Opened in 1954
Well Capitalized
Net worth classification
Source: NCUA
2,604 members
Membership type: Multiple common bond – other
Average number of members
521:1
Credit union member to staff ratio
521 per each FTE employee
Compared to 411:1 nationally
Less staff than other credit unions
$26,540,788
Total assets
Average size
1 branch
Compared with an average of 4 nationally and 6 in Utah
Above average number of branches
0.10%
Savings interest rate
Compared to 0.3% nationally
10.95%
Unsecured credit card loan interest rate
Compared to 10.8% nationally
Branches
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1 branch
Compared with an average of 4 nationally and 6 in Utah
Above average number of branches
Lu 354 I B E W Credit Union Branch Locations

Lu 354 I. B. E. W. Credit Union: Cmc
8520 S. Sandy Parkway
Sandy, Utah 84070
No ATM
Lu 354 I. B. E. W. Credit Union: Credit Union Office
3405 W. 1987 S.
Salt Lake City, Utah 84104
No ATM
Lu 354 I. B. E. W. Credit Union: Ibew Local 354
3400 W. 2100 S.
Salt Lake City, Utah 84119
No ATM
Members
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2,604 members
Membership type: Multiple common bond – other
Average number of members

With 2,604 members, the Lu 354 I B E W Credit Union is considered to be a medium size credit union. It is larger than 41% of credit unions.

Fees
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$33
Average fee per member
The average fee per member at the Lu 354 I B E W Credit Union is $33, which is low compared to most credit unions. This rate is lower than 63% of all credit unions.
Fees are lower 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 Lu 354 I B E W Credit Union. Some credit unions tend to charge more fees, while others charge less.

Staff
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521:1
Credit union member to staff ratio
521 per each FTE employee
Compared to 411:1 nationally
Less staff than other credit unions
5 staff members
FTE (full-time equivalent)
0% of employees are part-time
5 full-time, 0 part-time

Lu 354 I B E W Credit Union has 5 full-time staff members and 0 part-time staff members.

The number of members relative to staff members is an indication of how well staffed the credit union is. Lu 354 I B E W Credit Union has around 521 members per staff, a high ratio compared to other credit unions.

Assets
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$26,540,788
Total assets
Average size
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.
12.6%
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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$11,562
Average loan and lease size
Loan & lease sizes are bigger than average. They are bigger than at 61% of credit unions.

Lu 354 I B E W Credit Union holds a total of $20,070,000 in loans and leases, which is about $11,562 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. Lu 354 I B E W Credit Union pays 0.10%.

Loan rates
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10.95%
Unsecured credit card loan interest rate
Compared to 10.8% nationally
12.00%
Unsecured non-credit card loan interest rate
Compared to 11.2% nationally
6.45%
Other secured non-real estate loans and lines of credit interest rate
Compared to 5.3% nationally
Car loan rates
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4.49%
New car loan rate
Compared to 4.0% nationally
4.49%
Used car loan rate
Compared to 5.2% nationally
Mortgage rates
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5.99%
Mortgage rate (secured by junior lien)
Compared to 3.4% nationally
4.99%
Mortgage rate (secured by 1st lien)
Compared to 3.3% nationally
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