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Overview / Commentary
P.O. Box 433
Geneva, NY 14456

Finger Lakes Credit Union is headquartered in Geneva and is the 75th largest credit union in the state of New York. It is also the 1,548th largest credit union in the nation. It was established in 1967 and as of December of 2013, it had grown to 33 employees and 14,658 members. Finger Lakes Credit Union has a B+ health rating.

Field of Membership Restrictions

Must live, work, worship, volunteer or attend school in Ontario, Seneca or Yates County. - See Details

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Health

Data for Q4 2013

Institution Health

B+
Additional Factors: Institutions with a small asset base or a short operating history can represent an instability risk beyond what their financial ratios indicate. Finger Lakes Credit Union has a relatively low asset base.

Texas Ratio

GRADE:
A+

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 Finger Lakes Credit Union had $285,000 in non-current loans and owned real-estate with $8.32 million in equity and loan loss allowances on hand to cover it. This gives Finger Lakes Credit Union a Texas Ratio of 3.43% 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 Finger Lakes Credit Union experienced no significant changes from 2.46% as of December 31, 2012 to 3.43% as of December 31, 2013, resulting in a negative change of 39.13%. This indicates that the balance sheet and financial strength for Finger Lakes Credit Union has had no significant changes in recent periods.

Deposit Growth

GRADE:
A

In the past year, Finger Lakes Credit Union has increased its total deposits by $4.09 million, resulting in 5% 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 Finger Lakes Credit Union has shown is excellent.

Capitalization

GRADE:
C

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. Finger Lakes Credit Union has $94.41 million in assets with $8.32 million in equity, resulting in a capitalization level of 8.81%, which is average.

Institution Statistics

Overall
NCUA #18022
Year Chartered1967
Employees33
Primary Regulator
Assets and Liabilities
Assets$94.41 million
Loans$67.82 million
Deposits$85.89 million
Equity Capital$8.11 million
Loan Loss Allowance$212,000
Unbacked Noncurrent Loans$285,000
Real Estate Owned$0
Historic Data - December 2012
Assets$89.75 million
Equity Capital$7.59 million
Loan Loss Allowance$211,000
Unbacked Noncurrent Loans$285,000
Real Estate Owned$0
Profit Margin - Quarterly
Net Interest Margin4.82%
Return on Assets0.59%
Return on Equity6.87%
Interest Income$3.66 million
Rates
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Finger Lakes Credit Union Savings Account Rates

DetailsAPYMINMAXPRODUCT
0.35%--IRA Account
0.10%--Share Account
0.10%--Holiday Club Account
0.10%--Escrow Account

Finger Lakes Credit Union Money Market Rates

DetailsAPYMINMAXPRODUCT
0.20%$25k-Money Market Accounts

Finger Lakes Credit Union CD Rates

DetailsAPYMINMAXPRODUCT
1.00%$10k-3-Year Share Certificate
0.60%$10k-2-Year Share Certificate
0.45%$10k-18-Month Share Certificate
0.40%$10k-1-Year Share Certificate
0.35%$10k-9-Month Share Certificate
0.25%$10k-6-Month Share Certificate
0.20%$10k-3-Month Share Certificate

Finger Lakes Credit Union IRA Rates

DetailsAPYMINMAXPRODUCT
1.00%$10k-3-Year IRA Certificate
0.60%$10k-2-Year IRA Certificate
0.45%$10k-18-Month IRA Certificate
0.40%$10k-1-Year IRA Certificate
0.35%$10k-9-Month IRA Certificate
0.25%$10k-6-Month IRA Certificate
0.20%$10k-3-Month IRA Certificate
Locations


Finger Lakes Credit Union Locations
Branch Office7116 County Road 132Ovid, NY 14521-9791
Branch Office1934 State Route 96Phelps, NY 14532-9705
Branch Office27 Seneca StGeneva, NY 14456-3502