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Rocket Credit Union

Overview
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Rocket Credit Union is a federal credit union based in Mcgregor, Texas. It has been opened since 1954, for 66 years.

With around $21,780,000 in assets, Rocket Credit Union is considered to be an average size credit union. It has 1 branches and 1 ATM locations.

About
Address Po Box 235
Mcgregor, Texas 76657
Website http://www.rocketfcu.com
Phone (254) 840-2873
Fax (254) 840-3412
CEO Terry L. Sloan
President of the Board Claudia Parrott
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
2,692 members
Membership type: Unknown
Average number of members
317:1
Credit union member to staff ratio
317 per each FTE employee
Compared to 411:1 nationally
Lots of staff!
$21,778,099
Total assets
Average size
1 branch
Compared with an average of 4 nationally and 3 in Texas
Average number of branches
0.25%
Savings interest rate
Compared to 0.3% nationally
10.50%
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 3 in Texas
Average number of branches
Rocket Credit Union Branch Locations

Rocket Federal Credit Union
905 W. Mcgregor Drive
MC Gregor, Texas 76657
No ATM
Members
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2,692 members
Membership type: Unknown
Average number of members

With 2,692 members, the Rocket Credit Union is considered to be a medium size credit union. It is larger than 42% of credit unions.

Fees
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$85
Average fee per member
The average fee per member at the Rocket 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 Rocket Credit Union. Some credit unions tend to charge more fees, while others charge less.

Staff
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317:1
Credit union member to staff ratio
317 per each FTE employee
Compared to 411:1 nationally
Lots of staff!
8 staff members
FTE (full-time equivalent)
11% of employees are part-time
8 full-time, 1 part-time

Rocket Credit Union has 8 full-time staff members and 1 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. Rocket Credit Union has around 317 members per staff, a low ratio compared to other credit unions. This is a well staffed credit union.

Assets
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$21,778,099
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.
7.7%
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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$11,953
Average loan and lease size
Loan & lease sizes are bigger than average. They are bigger than at 64% of credit unions.

Rocket Credit Union holds a total of $19,540,000 in loans and leases, which is about $11,953 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. Rocket Credit Union pays 0.25%.

Loan rates
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10.50%
Unsecured credit card loan interest rate
Compared to 10.8% nationally
8.95%
Unsecured non-credit card loan interest rate
Compared to 11.2% nationally
3.75%
Other secured non-real estate loans and lines of credit interest rate
Compared to 5.3% nationally
Car loan rates
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2.50%
New car loan rate
Compared to 4.0% nationally
2.99%
Used car loan rate
Compared to 5.2% nationally
Mortgage rates
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3.00%
Mortgage rate (secured by 1st lien)
Compared to 3.3% nationally
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