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Overview / Commentary
25 Dorchester Ave
Boston, MA 02205

First Priority Credit Union is headquartered in BOSTON and is the 55th largest credit union in the state of Massachusetts. It is also the 1,424th largest credit union in the nation. It was established in 1924 and as of December of 2013, it had grown to 22 employees and 7,668 members. First Priority Credit Union has a B+ health rating.

Field of Membership Restrictions

First Priority Credit Union is open to members of the Postal Community (employees, retirees, family members) as well as those that live and work in Massachusetts' Essex County or Suffolk County. - See Details

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Data for Q4 2013

Institution Health


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, 2013 First Priority Credit Union had $1.02 million in non-current loans and owned real-estate with $17.42 million in equity and loan loss allowances on hand to cover it. This gives First Priority Credit Union a Texas Ratio of 5.84% which is excellent. Any bank with a Texas Ratio near or greater than 100% is considered at risk.

Texas Ratio Trend


The Texas Ratio for First Priority Credit Union decreased slightly from 7.51% as of December 31, 2012 to 5.84% as of December 31, 2013, resulting in a positive change of 22.21%.This indicates that the balance sheet and financial strength for First Priority Credit Union has improved slightly in recent periods.

Deposit Growth


In the past year, First Priority Credit Union has decreased its total deposits by -$5.74 million, resulting in -6.03% 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 Priority Credit Union has shown is below average.



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 Priority Credit Union has $106.8 million in assets with $17.42 million in equity, resulting in a capitalization level of 16.31%, which is excellent.

Institution Statistics

NCUA #66593
Year Chartered1924
Primary Regulator
Assets and Liabilities
Assets$106.80 million
Loans$58.81 million
Deposits$89.35 million
Equity Capital$17.01 million
Loan Loss Allowance$412,000
Unbacked Noncurrent Loans$871,000
Real Estate Owned$147,000
Historic Data - December 2012
Assets$113.53 million
Equity Capital$17.80 million
Loan Loss Allowance$597,000
Unbacked Noncurrent Loans$871,000
Real Estate Owned$322,000
Profit Margin - Quarterly
Net Interest Margin5.9%
Return on Assets0.11%
Return on Equity0.71%
Interest Income$3.81 million
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First Priority Credit Union Savings Account Rates

0.15%--Share Account
0.15%--IRA Accumulator
0.15%--Holiday Account
0.15%--Vacation Account
0.15%--All-Purpose Account

First Priority Credit Union Money Market Rates

0.30%$25k-Money Market Account

First Priority Credit Union CD Rates

1.30%$1k-5 Year CD
1.20%$1k-4 Year CD
1.00%$1k-3 Year CD
0.75%$1k-2 Year CD
0.50%$1k-15 Month CD
0.50%$1k-18 Month CD
0.40%$1k-9 Month CD
0.40%$1k-1 Year CD
0.25%$1k-6 Month CD
0.15%$1k-3 Month CD

First Priority Credit Union IRA Rates

1.30%$1k-5 Year IRA (Traditional,Roth,CESA)
1.20%$1k-4 Year IRA (Traditional,Roth,CESA)
1.00%$1k-3 Year IRA (Traditional,Roth,CESA)
0.75%$1k-2 Year IRA (Traditional,Roth,CESA)
0.50%$1k-15 Month IRA (Traditional,Roth,CESA)
0.50%$1k-18 Month IRA (Traditional,Roth,CESA)
0.40%$1k-9 Month IRA (Traditional,Roth,CESA)
0.40%$1k-1 Year IRA (Traditional,Roth,CESA)
0.25%$1k-6 Month IRA (Traditional,Roth,CESA)
0.15%$1k-3 Month IRA (Traditional,Roth,CESA)

First Priority Credit Union Locations
Branch Office100 SWIFT STEAST BOSTON, MA 021281864
Branch Office25 DORCHESTER AVEBOSTON, MA 02205