Charter Oak Credit Union

32 Chicago Avenue
Groton, CT 06340
800-962-3237
www.charteroak.org

NCUA

OverView
Rates
Health
Reviews

Charter Oak Credit Union is headquartered in Groton and is the 3^rd largest credit union in the state of Connecticut. It is also the 276^th largest credit union in the nation. It was established in 1939 and as of December of 2012, it had grown to 160 employees and 65,298 members. Charter Oak Credit Union's savings rates are 5X the national average, and it boasts a 5-star health rating.

Competitive Long-Term CD Rates at Charter Oak FCU in CT - Local Only - 12/28/2011

Charter Oak Federal Credit Union is offering three competitive long-term CD and IRA CD rates: 2.00% APY for 3 years, 2.25% APY for 4 years and 2.30% APY for 5 years. Minimum deposit is $1,000. These r ...

$150 Direct Deposit Bonus & 2.25% 7-Month CD at Charter Oak Credit Union in CT - 4/16/2009

Charter Oak Credit Union is having a checking account promotion with a $150 bonus for initiating recurring direct deposit totaling $750 or more per month. It must be made to a new Charter Oak checking account or added to an existing savings or checking...

Report an Issue

See Rates for: Checking | Savings | Money Market | CD | IRA

Charter Oak Credit Union Checking Account Rates

Apy	Min	Max	Product
0.50%	$250k	$2m	Premier Business Checking Account
0.50%	$100k	$2m	Non-Profit 501 Checking
0.05%	$1k	-	Charter Classic Share Draft

Charter Oak Credit Union Savings Account Rates

Apy	Min	Max	Product
2.50%	-	-	Health Savings Account
0.05%	-	-	Regular Share Account
0.05%	-	-	Holiday Club Account
0.05%	-	-	Vacation Club Account
0.05%	-	-	IRA Share Account

Charter Oak Credit Union Money Market Rates

Apy	Min	Max	Product
0.40%	$100k	-	Jumbo Money Market Account
0.40%	$100k	-	Jumbo IRA Money Market Account
0.40%	$100k	-	Jumbo Business Money Market Account

Charter Oak Credit Union CD Rates

Apy	Min	Max	Product
1.50%	$10k	-	72-120 Month Share Certificate
1.50%	$1k	-	60 Month Share Certificate
1.25%	$1k	-	4 Year Share Certificate
1.10%	$1k	-	3 Year Share Certificate
0.90%	$1k	-	Gold - 18 Month CD
0.70%	$1k	-	2 Year Share Certificate
0.40%	$1k	-	1 Year Share Certificate
0.40%	$1k	-	15 Month Share Certificate
0.30%	$1k	-	6 Month Share Certificate
0.30%	$1k	-	7 Month Share Certificate
0.30%	$1k	-	8 Month Share Certificate
0.15%	$1k	-	3 Month Share Certificate
0.05%	$10k	-	30 Day Share Certificate

Charter Oak Credit Union IRA Rates

Apy	Min	Max	Product
1.50%	$1k	-	60 Month IRA Certificate
1.50%	$10k	-	72-120 Month IRA Certificate
1.50%	$1k	-	60 Month Roth IRA Certificate
1.50%	$10k	-	72-120 Month Roth IRA Certificate
1.50%	$1k	-	60 Month SEP IRA Certificate
1.50%	$10k	-	72-120 Month SEP IRA Certificate
1.25%	$1k	-	4 Year IRA Certificate
1.25%	$1k	-	4 Year Roth IRA Certificate
1.25%	$1k	-	4 Year SEP IRA Certificate
1.10%	$1k	-	3 Year IRA Certificate
1.10%	$1k	-	3 Year Roth IRA Certificate
1.10%	$1k	-	3 Year SEP IRA Certificate
0.70%	$1k	-	2 Year IRA Certificate
0.70%	$1k	-	2 Year Roth IRA Certificate
0.70%	$1k	-	2 Year SEP IRA Certificate
0.40%	$1k	-	1 Year IRA Certificate
0.40%	$1k	-	15 Month IRA Certificate
0.40%	$1k	-	1 Year Roth IRA Certificate
0.40%	$1k	-	15 Month Roth IRA Certificate
0.40%	$1k	-	1 Year SEP IRA Certificate
0.40%	$1k	-	15 Month SEP IRA Certificate
0.30%	$1k	-	6 Month IRA Certificate
0.30%	$1k	-	7 Month IRA Certificate
0.30%	$1k	-	8 Month IRA Certificate
0.30%	$1k	-	6 Month Roth IRA Certificate
0.30%	$1k	-	7 Month Roth IRA Certificate
0.30%	$1k	-	8 Month Roth IRA Certificate
0.30%	$1k	-	6 Month SEP IRA Certificate
0.30%	$1k	-	7 Month SEP IRA Certificate
0.30%	$1k	-	8 Month SEP IRA Certificate
0.15%	$1k	-	3 Month IRA Certificate
0.15%	$1k	-	3 Month Roth IRA Certificate
0.15%	$1k	-	3 Month SEP IRA Certificate
0.05%	$10k	-	30 Day IRA Certificate
0.05%	$10k	-	30 Day Roth IRA Certificate
0.05%	$10k	-	30 Day SEP IRA Certificate

Rates updated: 5/21/2013

Data for Q4 2012

Institution Statistics

CHARTER OAK
NCUA #	3413
BankRate Report	View
Year Chartered	1939
Employees	160
Primary Regulator
Assets and Liabilities
Assets	$763.97 million
Loans	$538.35 million
Deposits	$647.17 million
Equity Capital	$73.71 million
Loan Loss Allowance	$6.07 million
Unbacked Noncurrent Loans	$3.84 million
Real Estate Owned	$220,000
Historic Data - December 2011
Assets	$702.02 million
Equity Capital	$69.74 million
Loan Loss Allowance	$7.89 million
Unbacked Noncurrent Loans	$3.51 million
Real Estate Owned	$885,000
Profit Margin - Quarterly
Net Interest Margin	3.67%
Return on Assets	0.69%
Return on Equity	7.19%
Interest Income	$27.40 million
Non-Interest Income	$9.92 million

Institution Health

Overall Score:

5 out of 5

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 December 31, 2012 Charter Oak Credit Union had $4.06 million in non-current loans and owned real-estate with $79.79 million in equity and loan loss allowances on hand to cover it. This gives Charter Oak Credit Union a Texas Ratio of 5.09% which is excellent. Any bank with a Texas Ratio near or greater than 100% is considered at risk.
Texas Ratio Trend
The Texas Ratio for Charter Oak Credit Union held steady from 5.66% as of December 31, 2011 to 5.09% as of December 31, 2012, resulting in a positive change of 10.04%.This indicates that the balance sheet and financial strength for Charter Oak Credit Union has held steady in recent periods.
Deposit Growth
In the past year, Charter Oak Credit Union has increased its total deposits by $61.42 million, resulting in 10.48% 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 Charter Oak 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. Charter Oak Credit Union has $763.97 million in assets with $79.79 million in equity, resulting in a capitalization level of 10.44%, which is above average.