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Overview / Commentary
860-828-2790
279 New Britain Rd
Berlin, CT 06037

Achieve Financial Credit Union is headquartered in Berlin and is the 15st largest credit union in the state of Connecticut. It is also the 1,383rd largest credit union in the nation. It was established in 1954 and as of March of 2014, it had grown to 38 employees and 14,811 members. Achieve Financial Credit Union has a B+ health rating.

Field of Membership Restrictions

You can join Achieve Financial Credit Union (1.) if you are an employee, registered student, or parent of a registered student of a public, private, or parochial school located in Avon, Berlin, Canton, East Granby, Farmington, Granby, New Britain, Newington, Plainville, Rocky Hill, Simsbury, Southington, or Wethersfield; or, (2.) if you are a student, alumnus, faculty member, or employee of Central CT State University; or, (3.) if you are an employee of any hospital, health care facility, associations or healthcare-related services in Berlin, Cheshire, Cromwell, Durham, Farmington, New Britain, Meriden, Middletown, Middlefield, Newington, Plainville, Rocky Hill, Southington and Wallingford, including The Hospital of Central Connecticut, MidState Medical Center, The Hospital For Special Care, Gaylord Hospital, Masonicare, and Grove Hill Medical Center; or, (4.) if you are an employee or member of a local participating organization in our area which offers membership at Achieve Financial Credit Union as a benefit; or, (5.) if you are a member of the Berlin Land Trust; or, (6.) if you are an immediate family member of an existing member. - See Details

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Health

Data for Q1 2014

Institution Health

B+

Texas Ratio

GRADE:
A

The Texas Ratio is an indicator of how much capital a bank has available compared to the total value of loans considered at risk. As of March 31, 2014 Achieve Financial Credit Union had $799,000 in non-current loans and owned real-estate with $9.33 million in equity and loan loss allowances on hand to cover it. This gives Achieve Financial Credit Union a Texas Ratio of 8.57% which is excellent. Any bank with a Texas Ratio near or greater than 100% is considered at risk.

Texas Ratio Trend

GRADE:
B+

The Texas Ratio for Achieve Financial Credit Union decreased slightly from 11.92% as of March 31, 2013 to 8.57% as of March 31, 2014, resulting in a positive change of 28.15%.This indicates that the balance sheet and financial strength for Achieve Financial Credit Union has improved slightly in recent periods.

Deposit Growth

GRADE:
A

In the past year, Achieve Financial Credit Union has increased its total deposits by $3.71 million, resulting in 3.67% 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 Achieve Financial Credit Union has shown is excellent.

Capitalization

GRADE:
C

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. Achieve Financial Credit Union has $114.71 million in assets with $9.33 million in equity, resulting in a capitalization level of 8.13%, which is average.

Institution Statistics

Overall
NCUA #61256
Year Chartered1954
Employees38
Primary Regulator
Assets and Liabilities
Assets$114.71 million
Loans$94.06 million
Deposits$104.76 million
Equity Capital$8.71 million
Loan Loss Allowance$614,000
Unbacked Noncurrent Loans$799,000
Real Estate Owned$0
Historic Data - March 2013
Assets$110.23 million
Equity Capital$8.16 million
Loan Loss Allowance$800,000
Unbacked Noncurrent Loans$799,000
Real Estate Owned$0
Profit Margin - Quarterly
Net Interest Margin1.2%
Return on Assets0.47%
Return on Equity6.2%
Interest Income$1.22 million
Rates

Always verify rates and promotions with the bank or credit union. We are not Achieve Financial Credit Union, we are a rate comparison website and can not provide official rates or promotions.

Achieve Financial Credit Union Savings Account Rates

DetailsAPYMINMAXPRODUCT
0.05%--Prime Share Savings
0.05%--Special Share Savings
0.05%--Smart Start Account
0.05%--Kids Club Account

Achieve Financial Credit Union Money Market Rates

DetailsAPYMINMAXPRODUCT
0.40%$50k-Money Market Account
0.40%$50k-IRA Money Market
0.40%$50k-Roth IRA Money Market

Achieve Financial Credit Union Checking Account Rates

DetailsAPYMINMAXPRODUCT
0.00%--Premium Checking

Achieve Financial Credit Union CD Rates

DetailsAPYMINMAXPRODUCT
1.92%$1k-60 Month Share Certificate
1.92%$500-60 Month Smart Start Share Certificate
1.66%$1k-48 Month Share Certificate
1.66%$500-48 Month Smart Start Share Certificate
1.41%$1k-36 Month Share Certificate
1.41%$500-36 Month Smart Start Share Certificate
1.06%$1k-30 Month Bump Up Share Certificate
1.06%$500-30 Month Smart Start Bump Up Share Certificate
0.90%$1k-24 Month Share Certificate
0.90%$500-24 Month Smart Start Share Certificate
0.80%$1k-18 Month Bump Up Share Certificate
0.80%$500-18 Month Smart Start Bump Up Share Certificate
0.65%$1k-15 Month Share Certificate
0.65%$500-15 Month Smart Start Share Certificate
0.50%$1k-12 Month Share Certificate
0.50%$500-12 Month Smart Start Share Certificate
0.30%$1k-6 Month Share Certificate
0.30%$500-6 Month Smart Start Share Certificate

Achieve Financial Credit Union IRA Rates

DetailsAPYMINMAXPRODUCT
1.92%$500-60 Month IRA Certificate
1.66%$500-48 Month IRA Certificate
1.41%$500-36 Month IRA Certificate
1.06%$500-30 Month Bump Up IRA Certificate
0.90%$500-24 Month IRA Certificate
0.80%$500-18 Month Bump Up IRA Certificate
0.65%$500-15 Month IRA Certificate
0.50%$500-12 Month IRA Certificate
0.30%$500-6 Month IRA Certificate
Locations


Achieve Financial Credit Union Locations
Branch Office279 New Britain RdBerlin, CT 06037
Branch Office720 Pleasant StSouthington, CT 06489
Branch Office450 W Main StNew Britain, CT 06052
Branch Office1064 E Main StMeriden, CT 06450