First New England Federal Credit Union

First New England Federal Credit Union is headquartered in East Hartford and is the 20^th largest credit union in the state of Connecticut. It is also the 1,751^st largest credit union in the nation. It was established in 1938 and as of December of 2011, it had grown to 29 employees and 10,627 members. First New England Federal Credit Union has a 4-star health rating.

Related Posts

2010

• 3/8 - The First New England Fee Schedule Says $20 Annual ATM Card Fee (Forum)
• 1/2 - First New England Has Proven To Be A Very Reputable (Forum)

2008

• 12/30 - 2.51% Checking Without Debit Card Requirement at First New England FCU - Easy Membership
• 12/26 - 4.04% 9-Month CD at First New England FCU - Easy Membership
• 9/5 - 5.00% 5-Month CD at First New England FCU - Easy Membership
• 1/15 - High-Yield Reward Checking Account at First New England FCU

2007

• 8/24 - 5.64% 5-Month CD at a Connecticut CU - w/DD (First New England)

First New England Federal Credit Union Checking Account Rates

First New England Federal Credit Union Savings Account Rates

First New England Federal Credit Union Money Market Rates

First New England Federal Credit Union CD Rates

First New England Federal Credit Union IRA Rates

Data for Q4 2011

Institution Statistics FIRST NEW ENGLAND NCUA # 2601 BankRate Report View Year Chartered 1938 Employees 29 Primary Regulator Assets and Liabilities Assets $74.37 million Loans $53.22 million Deposits $60.56 million Equity Capital $6.05 million Loan Loss Allowance $495,000 Unbacked Noncurrent Loans $1.63 million Historic Data - December 2010 Assets $67.76 million Equity Capital $5.22 million Loan Loss Allowance $477,000 Unbacked Noncurrent Loans $1.73 million Real Estate Owned $179,000 Profit Margin - Quarterly Net Interest Margin 4.87% Return on Assets 0.1% Return on Equity 1.27% Interest Income $3.02 million Non-Interest Income $2.78 million

Institution Health Overall Score: 4 out of 5 Texas Ratio 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 First New England Federal Credit Union had $1.63 million in non-current loans and owned real-estate with $6.55 million in equity and loan loss allowances on hand to cover it. This gives First New England Federal Credit Union a Texas Ratio of 24.89% which is average. Any bank with a Texas Ratio near or greater than 100% is considered at risk. Texas Ratio Trend The Texas Ratio for First New England Federal Credit Union decreased slightly from 33.46% as of December 31, 2010 to 24.89% as of December 31, 2011, resulting in a positive change of 25.60%.This indicates that the balance sheet and financial strength for First New England Federal Credit Union has improved slightly in recent periods. Deposit Growth In the past year, First New England Federal Credit Union has increased its total deposits by $7.47 million, resulting in 14.08% 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 First New England Federal Credit Union has shown is excellent. Capitalization 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. First New England Federal Credit Union has $74.37 million in assets with $6.55 million in equity, resulting in a capitalization level of 8.80%, which is average.