1 star ratingAverage User Rating:
1 star rating based on 1 review.

Coreplus Credit Union

Coreplus Credit Union Locations
202 Salem Tpke
Norwich, CT 06360
1-800-724-0779
www.coreplus.org

NCUA


Coreplus Credit Union is headquartered in Norwich and is the 12st largest credit union in the state of Connecticut. It is also the 908th largest credit union in the nation. It was established in 1936 and as of December of 2012, it had grown to 63 employees and 21,788 members. Coreplus Credit Union has a 4-star health rating.

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Top 5-Year CD Rate at CorePlus FCU in Connecticut - Local Only - 6/1/2012

CorePlus Federal Credit Union is offering a very competitive rate on its 5-year share certificate. It has a 2.25% APY for a minimum deposit of $500. The early withdrawal penalty is 365 days of dividen ...



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

Coreplus Credit Union Checking Account Rates

ApyMinMaxProduct
0.40%$50k-Premier Checking

Coreplus Credit Union Savings Account Rates

ApyMinMaxProduct
0.15%$50-IRA Accumulator
0.05%--Regular Shares
0.05%--Holiday Club
0.05%--Vacation Club
0.05%--Tax Club

Coreplus Credit Union Money Market Rates

ApyMinMaxProduct
0.30%$50k-Money Market Account

Coreplus Credit Union CD Rates

ApyMinMaxProduct
1.95%$10k-3 Year Scorecard Rewards Share Certificate
1.35%$500-5 Year Share Certificate
1.20%$500-4 Year Share Certificate
0.95%$500-3 Year Share Certificate
0.50%$500-2 Year Share Certificate
0.40%$500-18 Month Share Certificate
0.25%$500-1 Year Share Certificate
0.10%$500-6 Month Share Certificate
0.05%$10k-30 Day Share Certificate
0.05%$1k-3 Month Share Certificate

Coreplus Credit Union IRA Rates

ApyMinMaxProduct
1.95%$10k-3 Year Scorecard Rewards IRA Certificate
1.95%$10k-3 Year Scorecard Rewards Roth IRA Certificate
1.95%$10k-3 Year Scorecard Rewards Education IRA
1.35%$500-5 Year IRA Certificate
1.35%$500-5 Year Roth IRA Certificate
1.35%$500-5 Year Education IRA
1.20%$500-4 Year IRA Certificate
1.20%$500-4 Year Roth IRA Certificate
1.20%$500-4 Year Education IRA
0.95%$500-3 Year IRA Certificate
0.95%$500-3 Year Roth IRA Certificate
0.95%$500-3 Year Education IRA
0.50%$500-2 Year IRA Certificate
0.50%$500-2 Year Roth IRA Certificate
0.50%$500-2 Year Education IRA
0.40%$500-18 Month Education IRA
0.40%$500-18 Month IRA Certificate
0.40%$500-18 Month Roth IRA Certificate
0.25%$500-1 Year IRA Certificate
0.25%$500-1 Year Roth IRA Certificate
0.25%$500-1 Year Education IRA
0.10%$500-6 Month IRA Certificate
0.10%$500-6 Month Roth IRA Certificate
0.10%$500-6 Month Education IRA
0.05%$10k-30 Day IRA Certificate
0.05%$1k-3 Month IRA Certificate
0.05%$10k-30 Day Roth IRA Certificate
0.05%$1k-3 Month Roth IRA Certificate
0.05%$10k-30 Day Education IRA
0.05%$1k-3 Month Education IRA

Rates updated: 6/18/2013

Data for Q4 2012


Institution Statistics


COREPLUS
NCUA #1148
BankRate ReportView
Year Chartered1936
Employees63
Primary Regulator

Assets and Liabilities

Assets$194.54 million
Loans$112.03 million
Deposits$178.97 million
Equity Capital$14.29 million
Loan Loss Allowance$740,000
Unbacked Noncurrent Loans$829,000

Historic Data - December 2011

Assets$192.27 million
Equity Capital$14.05 million
Loan Loss Allowance$538,000
Unbacked Noncurrent Loans$824,000

Profit Margin - Quarterly

Net Interest Margin4.09%
Return on Assets0.11%
Return on Equity1.49%
Interest Income$6.79 million
Non-Interest Income$3.10 million

Institution Health


Overall Score:
4 out of 5
4
Texas Ratio5
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 Coreplus Credit Union had $829,000 in non-current loans and owned real-estate with $15.03 million in equity and loan loss allowances on hand to cover it. This gives Coreplus Credit Union a Texas Ratio of 5.51% which is excellent. Any bank with a Texas Ratio near or greater than 100% is considered at risk.
Texas Ratio Trend3
The Texas Ratio for Coreplus Credit Union held steady from 5.65% as of December 31, 2011 to 5.51% as of December 31, 2012, resulting in a positive change of 2.36%.This indicates that the balance sheet and financial strength for Coreplus Credit Union has held steady in recent periods.
Deposit Growth4
In the past year, Coreplus Credit Union has increased its total deposits by $2.34 million, resulting in 1.32% 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 above average.
Capitalization2
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 $194.54 million in assets with $15.03 million in equity, resulting in a capitalization level of 7.73%, which is below average.
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Coreplus Credit Union The Worst CU Ever
1 stars - AAAfrican - Wednesday, February 20, 2013 - 10:37 PM

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.

4