Coreplus Credit Union is headquartered in Norwich and is the 12st largest credit union in the state of Connecticut. It is also the 946th largest credit union in the nation. It was established in 1936 and as of December of 2013, it had grown to 69 employees and 22,420 members. Coreplus Credit Union has a B health rating.
Must live, work, worship or attend school in New London or Windham County. Also open to those who reside in the Town of Hebron or employees of the Town of Bolton. - See Details
Terrible, terrible credit union and management is rude especially in the Waterford location. Norwich location wasn't much better either. Wasn't told of their montly checking fee when I opened the account and gave them 6 months payment in return for no services. They told me I have platinum credit rating when they pulled my credit, but after the way I was humiliated (because of my accent? skin color?) I refused the loan offer after starting the application. Morever, in this day and age when other institutions offer free bill pay, they were going to charge an additional amount to the monthly fee I was paying in exchange for no services. When their ATM ran out of money and I was unable to get to a sister machine, they refused to refund the ATM fee. Whose ATM runs out of money?!?!??I would not recommend them to anyone who has been privileged to deal with a good, solid, caring credit union in the past, and actually would never recommend them to anyone at all.
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 Coreplus Credit Union had $814,000 in non-current loans and owned real-estate with $14.23 million in equity and loan loss allowances on hand to cover it. This gives Coreplus Credit Union a Texas Ratio of 5.72% which is excellent. Any bank with a Texas Ratio near or greater than 100% is considered at risk.
The Texas Ratio for Coreplus Credit Union held steady from 5.51% as of December 31, 2012 to 5.72% as of December 31, 2013, resulting in a negative change of 3.72%. This indicates that the balance sheet and financial strength for Coreplus Credit Union has held steady in recent periods.
In the past year, Coreplus Credit Union has decreased its total deposits by -$4.5 million, resulting in -2.51% 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 Coreplus Credit Union has shown is below average.
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. Coreplus Credit Union has $190.33 million in assets with $14.23 million in equity, resulting in a capitalization level of 7.48%, which is below average.
|Assets and Liabilities|
|Equity Capital||$13.64 million|
|Loan Loss Allowance||$591,000|
|Unbacked Noncurrent Loans||$704,000|
|Real Estate Owned||$110,000|
|Historic Data - December 2012|
|Equity Capital||$14.29 million|
|Loan Loss Allowance||$740,000|
|Unbacked Noncurrent Loans||$704,000|
|Real Estate Owned||$0|
|Profit Margin - Quarterly|
|Net Interest Margin||3.79%|
|Return on Assets||0%|
|Return on Equity||0.04%|
|Interest Income||$6.34 million|
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|0.15%||$50||-||Roth IRA Accumulator|
|0.15%||$50||-||Education IRA Accumulator|
|0.30%||$50k||-||Money Market Account|
|3.00%||$10k||-||3 Year Scorecard Rewards Share Certificate|
|2.00%||$500||-||3 Year Share Certificate|
|1.75%||$500||-||5 Year Share Certificate|
|1.60%||$500||-||4 Year Share Certificate|
|1.05%||$500||-||2 Year Share Certificate|
|0.90%||$500||-||18 Month Share Certificate|
|0.55%||$500||-||1 Year Share Certificate|
|0.30%||$500||-||6 Month Share Certificate|
|0.05%||$10k||-||30 Day Share Certificate|
|0.05%||$1k||-||3 Month Share Certificate|
|3.00%||$10k||-||3 Year Scorecard Rewards IRA Certificate (Traditional,Roth,CESA)|
|2.00%||$500||-||3 Year IRA Certificate (Traditional,Roth,CESA)|
|1.75%||$500||-||5 Year IRA Certificate (Traditional,Roth,CESA)|
|1.60%||$500||-||4 Year IRA Certificate (Traditional,Roth,CESA)|
|1.05%||$500||-||2 Year IRA Certificate (Traditional,Roth,CESA)|
|0.90%||$500||-||18 Month IRA Certificate (Traditional,CESA,Roth)|
|0.55%||$500||-||1 Year IRA Certificate (Traditional,Roth,CESA)|
|0.30%||$500||-||6 Month IRA Certificate (Traditional,Roth,CESA)|
|0.05%||$10k||-||30 Day IRA Certificate (Traditional,Roth,CESA)|
|0.05%||$1k||-||3 Month IRA Certificate (Traditional,Roth,CESA)|
|Coreplus Credit Union Locations|
|Branch Office||113 Salem Tpke||Norwich, CT 06360|
|Branch Office||16 S Main St||Putnam, CT 06260|
|Branch Office||67 Lathrop Rd||Plainfield, CT 06374-2000|
|Branch Office||30 Norwich Ave||Norwich, CT 06360|
|Branch Office||326 Washington St||Norwich, CT 06360|
|Branch Office||255 Route 12||Groton, CT 06340-3404|
|Branch Office||125 Boston Post Rd||East Lyme, CT 06333|
|Branch Office||40 Boston Post Rd||Waterford, CT 06385|
|Branch Office||202 Salem Tpke||Norwich, CT 06360|