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Overview / Commentary
413-536-0475
710 Grattan St
Chicopee, MA 01020

Alden Credit Union is headquartered in Chicopee and is the 49th largest credit union in the state of Massachusetts. It is also the 1,316st largest credit union in the nation. It was established in 1939 and as of December of 2013, it had grown to 34 employees and 17,608 members. Alden Credit Union has a B+ health rating.

Field of Membership Restrictions

Membership is open to all residents of Hampden and Hampshire Counties in Massachusetts. - See Details

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Health

Data for Q4 2013

Institution Health

B+

Texas Ratio

GRADE:
A

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, 2013 Alden Credit Union had $1.08 million in non-current loans and owned real-estate with $10.43 million in equity and loan loss allowances on hand to cover it. This gives Alden Credit Union a Texas Ratio of 10.30% which is excellent. Any bank with a Texas Ratio near or greater than 100% is considered at risk.

Texas Ratio Trend

GRADE:
C-

The Texas Ratio for Alden Credit Union increased slightly from 4.36% as of December 31, 2012 to 10.30% as of December 31, 2013, resulting in a negative change of 136.42%. This indicates that the balance sheet and financial strength for Alden Credit Union has declined slightly in recent periods.

Deposit Growth

GRADE:
A+

In the past year, Alden Credit Union has increased its total deposits by $16.07 million, resulting in 18.62% 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 Alden 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. Alden Credit Union has $120.54 million in assets with $10.43 million in equity, resulting in a capitalization level of 8.65%, which is average.

Institution Statistics

Overall
NCUA #67951
Year Chartered1939
Employees34
Primary Regulator
Assets and Liabilities
Assets$120.54 million
Loans$92.27 million
Deposits$102.39 million
Equity Capital$10.09 million
Loan Loss Allowance$347,000
Unbacked Noncurrent Loans$1.08 million
Real Estate Owned$0
Historic Data - December 2012
Assets$102.45 million
Equity Capital$11.61 million
Loan Loss Allowance$408,000
Unbacked Noncurrent Loans$1.08 million
Real Estate Owned$0
Profit Margin - Quarterly
Net Interest Margin5.26%
Return on Assets0.39%
Return on Equity4.64%
Interest Income$5.40 million
Rates

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

Alden Credit Union Savings Account Rates

DetailsAPYMINMAXPRODUCT
0.10%--Statement Savings
0.10%--IRA Savings

Alden Credit Union Money Market Rates

DetailsAPYMINMAXPRODUCT
0.45%$100k-Money Market Account

Alden Credit Union Checking Account Rates

DetailsAPYMINMAXPRODUCT
0.10%--No Nonsense Plus Checking

Alden Credit Union CD Rates

DetailsAPYMINMAXPRODUCT
1.61%$1k-5 Year CD
1.01%$1k-3 Year CD
0.90%$1k-30 Month CD
0.85%$1k-2 Year CD
0.60%$1k-18 Month CD
0.55%$1k-1 Year CD
0.40%$1k-6 Month CD

Alden Credit Union IRA Rates

DetailsAPYMINMAXPRODUCT
1.61%$1k-5 Year IRA
1.01%$1k-3 Year IRA
0.90%$1k-30 Month IRA
0.85%$1k-2 Year IRA
0.60%$1k-18 Month IRA
0.55%$1k-1 Year IRA
Locations


Alden Credit Union Locations
Branch Office710 Grattan StChicopee, MA 01020-1255
Branch Office650 Memorial DrChicopee, MA 01020
Branch Office30 Main StAmherst, MA 01002-2328