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Southernmost Credit Union

Overview
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Southernmost Credit Union is a federal credit union based in Key West, Florida. It has been opened since 1954, for 66 years.

With around $15,420,000 in assets, Southernmost Credit Union is considered to be a medium size credit union. It has 1 branches and 1 ATM locations.

About
Address 1004 Kennedy Drive
Key West, Florida 33040
Website http://www.smfcu.net
Phone (305) 296-6568
CEO Gladys C. Bethel
President of the Board Bruce Winegarden
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
1,879 members
Membership type: Multiple common bond – primary federal, state, local government
Below average number of members
470:1
Credit union member to staff ratio
470 per each FTE employee
Compared to 411:1 nationally
Fewer staff
$15,416,315
Total assets
Below average
1 branch
Compared with an average of 4 nationally and 7 in Florida
Average number of branches
0.50%
Savings interest rate
Compared to 0.3% nationally
15.90%
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 7 in Florida
Average number of branches
Southernmost Credit Union Branch Locations

Southernmost Federal Credit Union
1004 Kennedy Drive
Key West, Florida 33040
ATM Available
Members
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1,879 members
Membership type: Multiple common bond – primary federal, state, local government
Below average number of members

With 1,879 members, the Southernmost Credit Union is considered to be a small credit union. It is smaller than 67% of credit unions.

Fees
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$95
Average fee per member
The average fee per member at the Southernmost Credit Union is $95, which is very high compared to most credit unions. This rate is higher than 82% 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 Southernmost Credit Union. Some credit unions tend to charge more fees, while others charge less.

Staff
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470:1
Credit union member to staff ratio
470 per each FTE employee
Compared to 411:1 nationally
Fewer staff
4 staff members
FTE (full-time equivalent)
0% of employees are part-time
4 full-time, 0 part-time

Southernmost Credit Union has 4 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. Southernmost Credit Union has around 470 members per staff, a higher ratio compared to other credit unions.

Assets
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$15,416,315
Total assets
Below 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.
19.1%
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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$10,556
Average loan and lease size
Loan & lease sizes are average sized. They are bigger than at 54% of credit unions.

Southernmost Credit Union holds a total of $7,920,000 in loans and leases, which is about $10,556 per member on average.

Savings interest rate
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0.50%
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. Southernmost Credit Union pays 0.50%.

Loan rates
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15.90%
Unsecured credit card loan interest rate
Compared to 10.8% nationally
16.00%
Unsecured non-credit card loan interest rate
Compared to 11.2% nationally
11.00%
Other secured non-real estate loans and lines of credit interest rate
Compared to 5.3% nationally
Car loan rates
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6.00%
New car loan rate
Compared to 4.0% nationally
7.00%
Used car loan rate
Compared to 5.2% nationally
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