Affinity Credit Union is headquartered in Basking Ridge and is the largest credit union in the state of New Jersey. It is also the 61st largest credit union in the nation. It was established in 1935 and as of June of 2013, it had grown to 350 employees and 133,217 members. Affinity Credit Union has a B health rating.
Field of Membership Restrictions
Membership at Affinity is available to the employees of participating businesses, as well as immediate family or household members. And, membership is also available to most everyone by joining a participating association or club. We have over 2,000 businesses, associations, and clubs that make up the organizations that are part of the Affinity family. - See Details
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Mortgage Dept Is A Nightmare
I've had accounts and loans with Affintiy for 11 years and never had a problem. And as long as you don't have a problem they are great but if you should ever fall on difficult times this is not the lender you want to be dealing with. My motgage was 45 days past due and their mortgage guy went into all of my minor childrens accounts and cleaned them out without any notification. Even my oldest child whose account was set up when he was a minor and was working and putting his money into his account had it cleaned out one week before his college tuition was due. I understand collecting a debt but this was only late payments I was not in forclosure and never was. This was a company I had an eleven year relationship with and numerous loans that I had always paid and they treated me like a criminal. I could write pages on how their mortgage guy treated me and to this day I cringe when I have to walk into that bank to pay my mortgage. I cannot wait to refinance my loan to get away from these people.
Affinity Credit Union Is A Joke.
I work the hours that they are open, including Saturdays, the only way for me to deposit my pay, which is cash, is through one of their ATMs. I deposited $450 last Saturday and was, and am still, only alowwed access to $199 of my cash deposit. WHY? I asked them. The customer service rep told me that they place a 2 business day hold on all checks AND cash. WHAT??? On cash?? I've heard of some realy, realy dumb things in my life but this takes the cake.
Then yesterday, when I wanted to see what my account balance was over the phone, the one time that I want to talk to an automated teller, I have to hit a prompt for this and a prompt for that, then I have to talk to someone, then I have to answer 3 questions before they can tell me my account balance.
Nedless to say Affinity is a waste of time and money and I will be closing my account once the rest of my cash is available to me.
HATE HATE HATE Their New Online Banking
If I could give them zero stars right now, I would.
Not The Greatest Bank To Deal With On Hard Times
I recently fell on hard times being unemployed a year and a half. I was able to work out payments with my other credit card lenders. Even Bank of America was able to reduce my payments on my loans. I tried numerous times to work out payments that were manageable with Affinity due to my situation. They would not work with me to the point that I had their lawyers after me. I fell on hard times and after being loyal for many years they do this to me. Shame on you Affinity Federal Credit Union for being so money hungry when honest people like me are willing to pay something but fell on hard times. Your customer service also stinks where you don't put the customer first. I am glad I grabbed my money out of my bank accounts before you had a chance to take all of it. You would have taken all my unemployment payments. (by law you are not supposed to do this but you will do it anyway to screw your customers. ) Screw you guys. Shame on you for taking that guys kids money on the dad that had a late mortgage payment. Once I am done paying everything you will lose me as a loyal customer and will make sure to spread word of mouth how bad you are. Bank of America even treats their customers better. I had a $499 month loan and they allowed me to pay $250 now a month. Everyone has complained about Bank of America. Everyone should look at not joining any credit union especially Affinity Federal Credit Union. They dont want to work with their customers even in hard times. AFFINITY FEDERAL CREDIT UNION SUCKS DONT EVER SIGN A LOAN WITH THEM OR BANK WITH THEM THEY WILL TAKE EVERYTHING !!!
Data for Q2 2013
Institution Health
Texas Ratio
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 June 30, 2013 Affinity Credit Union had $40.7 million in non-current loans and owned real-estate with $209.54 million in equity and loan loss allowances on hand to cover it. This gives Affinity Credit Union a Texas Ratio of 19.42% which is above average. Any bank with a Texas Ratio near or greater than 100% is considered at risk.
Texas Ratio Trend
The Texas Ratio for Affinity Credit Union held steady from 19.37% as of June 30, 2012 to 19.42% as of June 30, 2013, resulting in a negative change of 0.28%. This indicates that the balance sheet and financial strength for Affinity Credit Union has held steady in recent periods.
Deposit Growth
In the past year, Affinity Credit Union has increased its total deposits by $60.83 million, resulting in 3.14% 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 Affinity Credit Union has shown is excellent.
Capitalization
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. Affinity Credit Union has $2.29 billion in assets with $209.54 million in equity, resulting in a capitalization level of 9.14%, which is average.
Institution Statistics
| Overall | |
|---|---|
| NCUA # | 857 |
| Year Chartered | 1935 |
| Employees | 350 |
| Primary Regulator |
| Assets and Liabilities | |
|---|---|
| Assets | $2.29 billion |
| Loans | $1.72 billion |
| Deposits | $2.00 billion |
| Equity Capital | $176.00 million |
| Loan Loss Allowance | $33.54 million |
| Unbacked Noncurrent Loans | $39.81 million |
| Real Estate Owned | $896,000 |
| Historic Data - June 2012 | |
|---|---|
| Assets | $2.27 billion |
| Equity Capital | $181.17 million |
| Loan Loss Allowance | $29.82 million |
| Unbacked Noncurrent Loans | $39.81 million |
| Real Estate Owned | $181,000 |
| Profit Margin - Quarterly | |
|---|---|
| Net Interest Margin | 2.03% |
| Return on Assets | 0.47% |
| Return on Equity | 6.17% |
| Interest Income | $42.01 million |
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Affinity Credit Union has 15 locations. Click to view all Affinity Credit Union locations.