B
Magnifi Financial Credit Union
MelroseMN
Rating Date
March 2024
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Major Rating Factors: A current level of 0.5 percent of nonperforming loans to core capital combined with 0.8 percent from a year earlier contributes to the Excellent asset quality (10.0). Excellent current capitalization (7.9 on a scale of 0 to 10) based on a net capital to total assets of 10.1 and a net worth ratio of 11.4.
Other Rating Factors: Operating profits as a percentage of assets at 1.1%, coupled with a return on assets of 0.9 has resulted in Good (6.5) profitability. A five year analysis of stability tests including evaluations of capital adequacy, asset growth, and profitability lead to a Fair overall stability index (5.0 on a scale of 0 to 10).
Asset Mix: Consumer loans (7%), home mtgs (6%), other (87%)
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Corporate Info
Address
20 Fourth Avenue, SE
Melrose, MN 56352
Phone Number
(320) 256-3669
NCUA Charter Number
Largest Competitors
Weiss Ratings