4 star ratingAverage User Rating:
4 star rating based on 1 review.

ABCO Federal Credit Union

ABCO Federal Credit Union Locations
690 Beverly-Rancocas Road
Rancocas, NJ 08073
1.800.225.1859
www.goabco.org

NCUA

ABCO Federal Credit Union is headquartered in Rancocas and is the 16st largest credit union in the state of New Jersey. It is also the 976th largest credit union in the nation. It was established in 1958 and as of December of 2012, it had grown to 74 employees and 34,688 members. ABCO Federal Credit Union has a 4-star health rating.

Related Posts

ABCO Reduces APY To 2.02% On $25,000 Cap (Forum) - 5/1/2013

This info is available on their internet main page. I found about it by reading about it in my most recent statement. The APY had been at 2.12%. No other notification was give to account holders.

Members Beware Fraudulent Security Alert (Forum) - 11/9/2012

Phishing emails apparently are going out to Abco members. Typical phish asking for members to update their information by logging via the included link, which appears identical to the cu's address. http://www.goabco.org/fraudulent-security-alert-11-08-1

Rate Drop For Reward Checking At ABCO Federal Credit Union (Forum) - 11/1/2012

The rate dropped on ABCO's reward checking from 2.52% to 2.12%. Still up to $25K.

Member Appreciation Week (Forum) - 10/18/2012

Link has items available from a drawing held.  http://www.goabco.org/credit-union-week.cfm  

2012

2011




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ABCO Federal Credit Union Checking Account Rates

ApyMinMaxProduct
2.02%-$25kPremiere Checking

Rates updated: 5/18/2013

Data for Q4 2012


Institution Statistics


ABCO
NCUA #12679
BankRate ReportView
Year Chartered1958
Employees74
Primary Regulator

Assets and Liabilities

Assets$177.13 million
Loans$109.57 million
Deposits$160.77 million
Equity Capital$15.34 million
Loan Loss Allowance$1.35 million
Unbacked Noncurrent Loans$1.39 million
Real Estate Owned$217,000

Historic Data - December 2011

Assets$161.46 million
Equity Capital$14.37 million
Loan Loss Allowance$1.33 million
Unbacked Noncurrent Loans$1.30 million
Real Estate Owned$66,000

Profit Margin - Quarterly

Net Interest Margin5.81%
Return on Assets0.6%
Return on Equity6.88%
Interest Income$7.82 million
Non-Interest Income$4.29 million

Institution Health


Overall Score:
4 out of 5
4
Texas Ratio4
The Texas Ratio is an indicator of how much funds a bank has available compared to the total value of loans considered at risk. As of December 31, 2012 ABCO Federal Credit Union had $1.61 million in non-current loans and owned real-estate with $16.68 million in equity and loan loss allowances on hand to cover it. This gives ABCO Federal Credit Union a Texas Ratio of 9.63% which is above average. Any bank with a Texas Ratio near or greater than 100% is considered at risk.
Texas Ratio Trend3
The Texas Ratio for ABCO Federal Credit Union held steady from 8.68% as of December 31, 2011 to 9.63% as of December 31, 2012, resulting in a negative change of 10.94%. This indicates that the balance sheet and financial strength for ABCO Federal Credit Union has held steady in recent periods.
Deposit Growth5
In the past year, ABCO Federal Credit Union has increased its total deposits by $14.84 million, resulting in 10.17% growth for the year. A strong track record of growth is an indicator of consumer confidence and the bank's ability to strengthen its balance sheet. The growth ABCO Federal Credit Union has shown is excellent.
Capitalization3
Both FDIC and NCUA consider capitalization levels of banks and credit unions to be of high importance. Higher capitalization allows for a greater buffer when cover loans that may fail in the future. ABCO Federal Credit Union has $177.13 million in assets with $16.68 million in equity, resulting in a capitalization level of 9.42%, which is average.
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Great Rate, Rough Online Presence
4 stars - ctgottapee - Wednesday, June 27, 2012 - 6:24 AM

 a note for anyone chasing rates on their rewards checking:
Their online banking system has to be one of the most archaic I've ever encountered. It is about 20 years from the past, and features a hodge podge of 3 rd party modules for bill payment and statements.

If you are there to make your purchases and get your rewards, you can live with it, but making it your actual bank would be unlikely for anyone more civilized.
Bank to Bank transfers don't exist but you can trick bill payment into letting them out bound through, although they take longer as it requires the receiving bank to do some manual legwork to match it up to your account.

I was able to sign up via postal mail fairly easily. First month reward requirements are waived, so you may want to time your account opening towards the first of the month as it may take a bit for your direct deposit to transfer. If you sign up the last week of the month, that is your waived month, and doing it through the mail takes longer so you may have trouble getting everything set up by the next month.

20
 
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