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

Coventry Credit Union

Coventry Credit Union Locations
2006 Nooseneck Hill Road
Coventry, RI 02816
1-(877) 397-1900
www.coventrycu.org

Coventry Credit Union is headquartered in Coventry and is the 5th largest credit union in the state of Rhode Island. It is also the 728th largest credit union in the nation. It was established in 1950 and as of December of 2011, it had grown to 59 employees and 30,111 members. Coventry Credit Union has a 2-star health rating.

Coventry Credit Union Routing Number: 211573326

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4.75% 5-Month CD at Coventry Credit Union in Rhode Island - 12/2/2008

Coventry Credit Union is having a new-branch promotion with a special 5-month CD with an APY of 4.75%. Minimum deposit is $1,000, and there is no maximum deposit. According to the credit union's website, the special CD will be available at all of the...



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

Coventry Credit Union Savings Account Rates

ApyMinMaxProduct
0.15%--Share Account
0.15%--Deposit Account
0.15%--Statement Savings
0.15%--Mortgage Escrow
0.15%--Traditional IRA Share Savings
0.15%--Roth IRA Savings
0.15%--Education IRA Savings

Coventry Credit Union Money Market Rates

ApyMinMaxProduct
0.65%$75k-Buiness Money Market Account
0.30%$75k-Money Market Account

Coventry Credit Union CD Rates

ApyMinMaxProduct
1.50%$5k-5 Year CD
1.25%$5k-4 Year CD
1.00%$1k-3 Year CD
0.70%$1k-2 Year CD
0.70%$1k-24 Month Special CD
0.60%$1k-18 Month CD
0.40%$1k-1 Year CD

Coventry Credit Union IRA Rates

ApyMinMaxProduct
1.75%$500-5 Year IRA
1.75%$500-5 Year Education IRA
1.75%$500-5 Year Roth IRA
1.00%$500-3 Year IRA
1.00%$500-3 Year Education IRA
1.00%$500-3 Year Roth IRA
0.70%$500-2 Year IRA
0.70%$500-2 Year Education IRA
0.70%$500-2 Year Roth IRA
0.60%$500-18 Month IRA
0.60%$500-18 Month Education IRA
0.60%$500-18 Month Roth IRA
0.40%$500-1 Year IRA
0.40%$500-1 Year Education IRA
0.40%$500-1 Year Roth IRA

Rates updated: 5/24/2012

Data for Q4 2011


Institution Statistics


COVENTRY
NCUA #66595
BankRate ReportView
Year Chartered1950
Employees59
Primary Regulator

Assets and Liabilities

Assets$248.36 million
Loans$157.83 million
Deposits$202.27 million
Equity Capital$18.80 million
Loan Loss Allowance$1.37 million
Unbacked Noncurrent Loans$6.56 million
Real Estate Owned$144,000

Historic Data - December 2010

Assets$254.75 million
Equity Capital$18.63 million
Loan Loss Allowance$1.17 million
Unbacked Noncurrent Loans$3.25 million
Real Estate Owned$190,000

Profit Margin - Quarterly

Net Interest Margin5.11%
Return on Assets-0.05%
Return on Equity-0.65%
Interest Income$9.77 million
Non-Interest Income$3.71 million

Institution Health


Overall Score:
2 out of 5
2
Texas Ratio2
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, 2011 Coventry Credit Union had $6.71 million in non-current loans and owned real-estate with $20.16 million in equity and loan loss allowances on hand to cover it. This gives Coventry Credit Union a Texas Ratio of 33.26% which is below average. Any bank with a Texas Ratio near or greater than 100% is considered at risk.
Texas Ratio Trend2
The Texas Ratio for Coventry Credit Union increased slightly from 17.40% as of December 31, 2010 to 33.26% as of December 31, 2011, resulting in a negative change of 91.13%. This indicates that the balance sheet and financial strength for Coventry Credit Union has declined slightly in recent periods.
Deposit Growth2
In the past year, Coventry Credit Union has decreased its total deposits by -$6.42 million, resulting in -3.08% 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 Coventry Credit Union has shown is below average.
Capitalization3
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. Coventry Credit Union has $248.36 million in assets with $20.16 million in equity, resulting in a capitalization level of 8.12%, which is average.
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Good Rates, Nice Customer Service.
5 stars - trudy - Sunday, March 6, 2011 - 5:32 AM

I'm a relatively new customer of Coventry Credit Union, but I have been very happy with their customer service and their rates.

They have an IRA specialist who visits the branch near my house several days a week.  I had some extensive discussions with her that were very helpful.  They also handled transferring my accounts from another financial institution quickly and with no trouble and kept me informed about the progress, always important when your money is in the ether somewhere.

They have comparatively high rates, certainly compared to banks and brokerage CDs.  At the time I transferred my accounts, in late 2010, their 5 year CDs were at 3%.  The rates have dropped some, but their 6 year CDs are still, in March 2011, available at 2.85%.

They're a Rhode Island credit union, and are expanding their number of branches.  Currently they have five, which is pretty good coverage for this state.  The branch near my house is new and very convenient.

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