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202 Salem Tpke
Norwich, CT 06360

Coreplus Credit Union is headquartered in Norwich and is the 12st largest credit union in the state of Connecticut. It is also the 957th largest credit union in the nation. It was established in 1936 and as of March of 2014, it had grown to 68 employees and 22,278 members. Coreplus Credit Union has a B+ health rating.

Field of Membership Restrictions

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

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Reviews (1)

Coreplus Credit Union The Worst CU Ever

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.


Data for Q1 2014

Institution Health


Texas Ratio


The Texas Ratio is an indicator of how much capital a bank has available compared to the total value of loans considered at risk. As of March 31, 2014 Coreplus Credit Union had $706,000 in non-current loans and owned real-estate with $14.24 million in equity and loan loss allowances on hand to cover it. This gives Coreplus Credit Union a Texas Ratio of 4.96% 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 Coreplus Credit Union decreased slightly from 5.82% as of March 31, 2013 to 4.96% as of March 31, 2014, resulting in a positive change of 14.73%.This indicates that the balance sheet and financial strength for Coreplus Credit Union has improved slightly in recent periods.

Deposit Growth


In the past year, Coreplus Credit Union has decreased its total deposits by -$2.79 million, resulting in -1.52% 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 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 $195.19 million in assets with $14.24 million in equity, resulting in a capitalization level of 7.29%, which is below average.

Institution Statistics

NCUA #1148
Year Chartered1936
Primary Regulator
Assets and Liabilities
Assets$195.19 million
Loans$118.95 million
Deposits$180.22 million
Equity Capital$13.72 million
Loan Loss Allowance$513,000
Unbacked Noncurrent Loans$706,000
Real Estate Owned$0
Historic Data - March 2013
Assets$199.07 million
Equity Capital$14.36 million
Loan Loss Allowance$652,000
Unbacked Noncurrent Loans$706,000
Real Estate Owned$30,000
Profit Margin - Quarterly
Net Interest Margin0.98%
Return on Assets-0.1%
Return on Equity-1.37%
Interest Income$1.53 million

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Coreplus Credit Union Savings Account Rates

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

Coreplus Credit Union Money Market Rates

0.30%$50k-Money Market Account

Coreplus Credit Union Checking Account Rates

0.40%$50k-Premier Checking

Coreplus Credit Union CD Rates

2.00%$10k-3 Year Scorecard Rewards Share Certificate
1.65%$500-5 Year Share Certificate
1.35%$500-4 Year Share Certificate
1.00%$500-3 Year Share Certificate
0.70%$500-2 Year Share Certificate
0.65%$500-18 Month Share Certificate
0.35%$500-1 Year Share Certificate
0.25%$500-6 Month Share Certificate
0.05%$10k-30 Day Share Certificate
0.05%$1k-3 Month Share Certificate

Coreplus Credit Union IRA Rates

2.00%$10k-3 Year Scorecard Rewards IRA Certificate
1.65%$500-5 Year IRA Certificate
1.35%$500-4 Year IRA Certificate
1.00%$500-3 Year IRA Certificate
0.70%$500-2 Year IRA Certificate
0.65%$500-18 Month IRA Certificate
0.35%$500-1 Year IRA Certificate
0.25%$500-6 Month IRA Certificate
0.05%$10k-30 Day IRA Certificate
0.05%$1k-3 Month IRA Certificate

Coreplus Credit Union Locations
Branch Office113 Salem TpkeNorwich, CT 06360
Branch Office16 S Main StPutnam, CT 06260
Branch Office67 Lathrop RdPlainfield, CT 06374-2000
Branch Office30 Norwich AveNorwich, CT 06360
Branch Office326 Washington StNorwich, CT 06360
Branch Office255 Route 12Groton, CT 06340-3404
Branch Office125 Boston Post RdEast Lyme, CT 06333
Branch Office40 Boston Post RdWaterford, CT 06385
Branch Office202 Salem TpkeNorwich, CT 06360