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315-477-2200
1 Member Way
Syracuse, NY 13212

Empower Credit Union is headquartered in Syracuse and is the 13st largest credit union in the state of New York. It is also the 162nd largest credit union in the nation. It was established in 1939 and as of March of 2014, it had grown to 396 employees and 131,586 members. Empower Credit Union's savings rates are 35% higher than the national average, and it has a A health rating.

Field of Membership Restrictions

Must be an employee or member of one of their eligible association or organization. Also open to those who live, work, worship or attend school in the City of Buffalo, City of Binghamton, City of Syracuse, City of Utica, Oswego County, Town of Cheektowaga, Town of Geddes, Town of Union, designated areas of Liverpool, and Village of New York Mills. - See Details

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Health

Data for Q1 2014

Institution Health

A

Texas Ratio

GRADE:
A+

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 Empower Credit Union had $7.85 million in non-current loans and owned real-estate with $124.7 million in equity and loan loss allowances on hand to cover it. This gives Empower Credit Union a Texas Ratio of 6.29% which is excellent. Any bank with a Texas Ratio near or greater than 100% is considered at risk.

Texas Ratio Trend

GRADE:
C+

The Texas Ratio for Empower Credit Union experienced no significant changes from 5.98% as of March 31, 2013 to 6.29% as of March 31, 2014, resulting in a negative change of 5.26%. This indicates that the balance sheet and financial strength for Empower Credit Union has had no significant changes in recent periods.

Deposit Growth

GRADE:
A+

In the past year, Empower Credit Union has increased its total deposits by $65.28 million, resulting in 6.1% 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 Empower Credit Union has shown is excellent.

Capitalization

GRADE:
B

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. Empower Credit Union has $1.26 billion in assets with $124.7 million in equity, resulting in a capitalization level of 9.88%, which is above average.

Institution Statistics

Overall
NCUA #3025
Year Chartered1939
Employees396
Primary Regulator
Assets and Liabilities
Assets$1.26 billion
Loans$928.65 million
Deposits$1.14 billion
Equity Capital$117.15 million
Loan Loss Allowance$7.55 million
Unbacked Noncurrent Loans$6.78 million
Real Estate Owned$1.07 million
Historic Data - March 2013
Assets$1.19 billion
Equity Capital$110.62 million
Loan Loss Allowance$6.81 million
Unbacked Noncurrent Loans$6.78 million
Real Estate Owned$714,000
Profit Margin - Quarterly
Net Interest Margin1.19%
Return on Assets0.91%
Return on Equity9.77%
Interest Income$13.18 million
Rates

Always verify rates and promotions with the bank or credit union. We are not Empower Credit Union, we are a rate comparison website and can not provide official rates or promotions.

Empower Credit Union Savings Account Rates

DetailsAPYMINMAXPRODUCT
0.70%$10k-HSA Share Draft Checking
0.15%--Share Savings Account
0.15%--IRA Share Savings Account
0.15%--Health Savings Account (HSA)
0.15%--Generations - Dollar Dog Kids Club
0.15%--Generations - Teen Zone
0.15%--Generations - 50 Plus
0.15%--Roth IRA Share Savings Account
0.15%--Education IRA Share Savings Account
0.15%--Holiday Club Account
0.15%--Vacation Club Account
0.15%--Escrow Account
0.15%--Insurance Club Account
0.15%--Empower Club Account
0.15%--Business Share Savings Account

Empower Credit Union Money Market Rates

DetailsAPYMINMAXPRODUCT
0.40%$250k-Premium Money Market
0.40%$250k-Premium Money Market IRA
0.40%$250k-Premium Money Market Roth IRA
0.40%$250k-Premium Money Market Education IRA
0.40%$250k-Business Money Market Account

Empower Credit Union Checking Account Rates

DetailsAPYMINMAXPRODUCT
0.10%--Share Draft Checking Plus

Empower Credit Union CD Rates

DetailsAPYMINMAXPRODUCT
1.20%$100k-5 Year Share Certificate
1.20%$100k-10 Year Share Certificate
1.20%$100k-Business 5 Year Share Certificate
1.20%$100k-Business 10 Year Share Certificate
1.15%$100k-4 Year Share Certificate
1.15%$100k-Business 4 Year Share Certificate
0.95%$100k-3 Year Share Certificate
0.95%$100k-Business 3 Year Share Certificate
0.80%$100k-30 Month Share Savings Certificate
0.80%$100k-Business 30 Month Share Certificate
0.70%$100k-24 Month Share Certificate
0.70%$100k-24 Month Generation Wealth Builder Share Certificate
0.70%$100k-Business 24 Month Share Certificate
0.60%$100k-18 Month Share Certificate
0.60%$100k-Business 18 Month Share Certificate
0.50%$100k-12 Month Share Certificate
0.50%$100k-12 Month Generation Wealth Builder Share Certificate
0.50%$100k-Business 12 Month Share Certificate
0.30%$500-6 Month Share Certificate
0.30%$500-Business 6 Month Share Certificate
0.25%$500-3 Month Share Certificate
0.25%$500-Business 3 Month Share Certificate

Empower Credit Union IRA Rates

DetailsAPYMINMAXPRODUCT
1.20%$100k-5 Year Share Savings Certificate IRA
1.20%$100k-10 Year Share Savings Certificate IRA
1.15%$100k-4 Year Share Savings Certificate IRA
0.95%$100k-3 Year Share Savings Certificate IRA
0.80%$100k-30 Month Share Savings Certificate IRA
0.70%$100k-24 Month Share Savings Certificate IRA
0.60%$100k-18 Month Share Savings Certificate IRA
0.50%$100k-12 Month Share Savings Certificate IRA
0.30%$500-6 Month Share Savings Certificate IRA
0.25%$500-3 Month Share Savings Certificate IRA
Locations

Empower Credit Union has 22 locations. Click to view all Empower Credit Union locations.