2.5 star ratingAverage User Rating:
2.5 star rating based on 3 reviews.

First New England Federal Credit Union

First New England Federal Credit Union Locations
616 Burnside Ave
East Hartford, CT 06108
860-282-0001
www.firstnewengland.org

NCUA


First New England Federal Credit Union is headquartered in East Hartford and is the 19st largest credit union in the state of Connecticut. It is also the 1,746th largest credit union in the nation. It was established in 1938 and as of December of 2012, it had grown to 28 employees and 10,737 members. First New England Federal Credit Union has a 4-star health rating.

Related Posts

$50/$50 Refer-A-Friend Bonus At First New England FCU - Easy Membership (Forum) - 10/9/2012

This is one of the better refer-a-friend bonuses. Once your friend or family member opens and establishes an active Rewards Checking account with First New England, you both get a $50 credit to your account. promo page link First New England FCU's fr

High CD & IRA CD Rates with Relationship at First New England Federal Credit Union in CT - Easy Membership - 3/3/2011

First New England Federal Credit Union is offering several top rates on its CD and IRA CD rates. However, the best rates require relationship accounts. The rates are so high that the requirements can ...

Stil 4.10% (Forum) - 4/5/2010

Stil 4.10%, not sure where you got 2%.

First New England FCU Cuts Reward Checkiing Account Rate (Forum) - 3/31/2010

The top yield is scheduled to fall from 4.10% to 3.10% APY on April 1, 2010. The balance cap remains at $15K. For more details and the rate history, please refer to my First New England FCU review. Hat tip to reader who forwarded me the email from the

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

First New England Federal Credit Union Checking Account Rates

ApyMinMaxProduct
2.25%-$15kRewards Checking (Relationship)
1.25%-$15kRewards Checking (General)
0.50%$40k$50kPlatinum Rewards Checking (Relationship) - Qualifying
0.10%-$40kPlatinum Rewards Checking (Relationship) - Non Qualifying

First New England Federal Credit Union Savings Account Rates

ApyMinMaxProduct
0.40%--IRA Money Maximizer - General
0.40%$50k-Roth Maximizer - General
0.40%--IRA Money Maximizer - Relationship
0.40%$50k-Roth Maximizer - Relationship
0.10%--Prime Share Savings - General
0.10%--Prime Share Savings - Relationship

First New England Federal Credit Union Money Market Rates

ApyMinMaxProduct
0.40%$50k-Advantage Maximizer - Relationship
0.30%$50k-Money Maximizer - General
0.30%$50k-Money Maximizer - Relationship

First New England Federal Credit Union CD Rates

ApyMinMaxProduct
1.51%$1k-60 Month CD - Relationship
1.16%$1k-48 Month CD - Relationship
0.95%$1k-60 Month CD - General
0.90%$1k-36 Month CD - Relationship
0.60%$1k-48 Month CD - General
0.50%$1k-24 Month CD - Relationship
0.45%$1k-18 Month CD - Relationship
0.35%$1k-36 Month CD - General
0.30%$1k-6 Month CD - Relationship
0.30%$1k-12 Month CD - Relationship
0.25%$1k-24 Month CD - General
0.20%$1k-18 Month CD - General
0.05%$1k-6 Month CD - General
0.05%$1k-12 Month CD - General

First New England Federal Credit Union IRA Rates

ApyMinMaxProduct
1.51%$1k-60 Month Educational IRA CD - Relationship
1.51%$1k-60 Month IRA CD - Relationship
1.51%$1k-60 Month Roth IRA CD - Relationship
1.16%$1k-48 Month Educational IRA CD - Relationship
1.16%$1k-48 Month IRA CD - Relationship
1.16%$1k-48 Month Roth IRA CD - Relationship
0.95%$1k-60 Month Educational IRA CD - General
0.95%$1k-60 Month IRA CD - General
0.95%$1k-60 Month Roth IRA CD - General
0.90%$1k-36 Month Educational IRA CD - Relationship
0.90%$1k-36 Month IRA CD - Relationship
0.90%$1k-36 Month Roth IRA CD - Relationship
0.60%$1k-48 Month Educational IRA CD - General
0.60%$1k-48 Month IRA CD - General
0.60%$1k-48 Month Roth IRA CD - General
0.50%$1k-24 Month IRA CD - Relationship
0.50%$1k-24 Month Roth IRA CD - Relationship
0.50%$1k-24 Month Educational IRA CD - Relationship
0.45%$1k-18 Month IRA CD - Relationship
0.45%$1k-18 Month Roth IRA CD - Relationship
0.45%$1k-18 Month Educational IRA CD - Relationship
0.35%$1k-36 Month Educational IRA CD - General
0.35%$1k-36 Month IRA CD - General
0.35%$1k-36 Month Roth IRA CD - General
0.30%$1k-6 Month IRA CD - Relationship
0.30%$1k-12 Month IRA CD - Relationship
0.30%$1k-6 Month Roth IRA CD - Relationship
0.30%$1k-12 Month Roth IRA CD - Relationship
0.30%$1k-6 Month Educational IRA CD - Relationship
0.30%$1k-12 Month Educational IRA CD - Relationship
0.25%$1k-24 Month IRA CD - General
0.25%$1k-24 Month Roth IRA CD - General
0.25%$1k-24 Month Educational IRA CD - General
0.20%$1k-18 Month IRA CD - General
0.20%$1k-18 Month Roth IRA CD - General
0.20%$1k-18 Month Educational IRA CD - General
0.05%$1k-6 Month IRA CD - General
0.05%$1k-12 Month IRA CD - General
0.05%$1k-6 Month Roth IRA CD - General
0.05%$1k-12 Month Roth IRA CD - General
0.05%$1k-6 Month Educational IRA CD - General
0.05%$1k-12 Month Educational IRA CD - General

Rates updated: 5/22/2013

Data for Q4 2012


Institution Statistics


FIRST NEW ENGLAND
NCUA #2601
BankRate ReportView
Year Chartered1938
Employees28
Primary Regulator

Assets and Liabilities

Assets$77.48 million
Loans$54.96 million
Deposits$63.56 million
Equity Capital$6.60 million
Loan Loss Allowance$679,000
Unbacked Noncurrent Loans$1.49 million

Historic Data - December 2011

Assets$74.37 million
Equity Capital$6.05 million
Loan Loss Allowance$495,000
Unbacked Noncurrent Loans$1.63 million

Profit Margin - Quarterly

Net Interest Margin4.85%
Return on Assets0.7%
Return on Equity8.23%
Interest Income$3.04 million
Non-Interest Income$4.10 million

Institution Health


Overall Score:
4 out of 5
4
Texas Ratio3
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, 2012 First New England Federal Credit Union had $1.49 million in non-current loans and owned real-estate with $7.28 million in equity and loan loss allowances on hand to cover it. This gives First New England Federal Credit Union a Texas Ratio of 20.47% which is average. Any bank with a Texas Ratio near or greater than 100% is considered at risk.
Texas Ratio Trend4
The Texas Ratio for First New England Federal Credit Union decreased slightly from 24.89% as of December 31, 2011 to 20.47% as of December 31, 2012, resulting in a positive change of 17.78%.This indicates that the balance sheet and financial strength for First New England Federal Credit Union has improved slightly in recent periods.
Deposit Growth4
In the past year, First New England Federal Credit Union has increased its total deposits by $3 million, resulting in 4.95% 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 above 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. First New England Federal Credit Union has $77.48 million in assets with $7.28 million in equity, resulting in a capitalization level of 9.39%, which is average.
Write Review

Stay Away ! Far Away!
1 stars - chipcollector - Wednesday, July 25, 2012 - 3:58 PM

Had a rewards checking account that fell into disuse.

To keep it active, I would write a check for a few dollars once a year.

It had a balance of approx $350.

The other day I found out that, despite "activity" they began charging me $15 a month

for the past 2 years. My $350 turned into $50.

They basically stole my money.

When I pointed out to them that their REWARDS checking account disclosure said

"No service charges" and something to the effect that if you didn't maintain the Rewards Checking account

activity level, they would revert the account to a FREE CHECKING account, they told me "to bad"

Can you imagine having $200 stolen from you without so much as a letter, e-mail, phone call?

Nothing!

They said that they were "planning" on notifying people in this situation in the future.

Stay away !

Stay far awy!

 

3

Rewards Checking
2 stars - cjdtech - Wednesday, December 8, 2010 - 9:16 AM

If you opened a rewards checking account when rates were better, close it now! They charged me a $10 fee for not meeting the ACH requirement, and they didn't even send me a disclosure ahead of time that stated such! Their site still maintains it is a "free" checking account when the requirements aren't met, but obviously there's strings to that.

What kind of financial institution changes the rules without fully notifying customers of the change and allowing them full access to those rules? FNEFCU would fit into that category.

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5 stars - iphone01 - Thursday, December 20, 2012 - 10:16 AM

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