First Priority CU

25 Dorchester Avenue
Boston, MA 02205
800-949-7628
www.firstprioritycu.com
 

Related Blog Posts

3.00% 36-Month CD & 3.50% 60-Month CD at First Priority Credit Union in MA - Local Only - 12/15/2009

First Priority Credit Union continues to offer competitive long-term CD rates. These include a 3.00% APY 3-year CD and a 3.50% APY 5-year CD. Minimum deposit is $1,000. These are also available as IRA certificates. These rates are listed in the credit...

2.75% 24-Month CD & 3.00% 36-Month CD at First Priority Credit Union in MA - Local Only - 9/18/2009

Update 11/07/09: The 24-month CD rate has fallen to 1.80% APY.First Priority Credit Union had been offering a hot 9-month special CD with a 3% APY, but that didn't last long. However, they continue to offer very competitive mid-term and long-term CD...

3.00% 9-Month CD at First Priority Credit Union in MA - Local Only - 9/1/2009

Update 9/05/09: The 3% 9-month CD special has ended. Please check the credit union's website for the latest rates. First Priority Credit Union is offering a special 9-month certificate with a 3.00% APY. This requires that you open a new checking account....

3.00% 9-Month CD & 4.25% 60-Month CD at First Priority Credit Union in MA - 2/25/2009

Update 6/27/09: The special 18-month CD rate has fallen to 2.50% APY.Update 6/06/09: The 12-month CD rate has fallen to 2.00% APY. There's now a special 18-month CD with a rate of 3.00% APY. Please check the credit union's website for the latest...

2009

2008



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

Checking Accounts

ApyMinMaxProduct
0.25%--Share Draft

Savings Accounts

ApyMinMaxProduct
0.50%--Holiday Account
0.50%--Vacation Account
0.50%--All-Purpose Account
0.50%$25k-Share Account
0.50%--IRA Accumulator

Money Market Accounts

ApyMinMaxProduct
0.75%$25k-Money Market Account

Certificates of Deposit

ApyMinMaxProduct
2.50%$1k-4 Year CD Certificates
2.50%$1k-5 Year CD Certificates
2.25%$1k-3 Year CD Certificates
1.80%$1k-2 Year CD Certificates
1.50%$1k-15 Month CD Certificates
1.50%$1k-18 Month CD Certificates
1.25%$1k-9 Month CD Certificates
1.25%$1k-1 Year CD Certificates
0.75%$1k-6 Month CD Certificates
0.50%$1k-3 Month CD Certificates

IRA Accounts

ApyMinMaxProduct
2.50%$1k-4 Year CESA Certificates
2.50%$1k-5 Year CESA Certificates
2.50%$1k-5 Year IRA Certificates
2.50%$1k-4 Year Roth IRA Certificates
2.50%$1k-5 Year Roth IRA Certificates
2.50%$1k-4 Year IRA Certificates
2.25%$1k-3 Year Roth IRA Certificates
2.25%$1k-3 Year CESA Certificates
2.25%$1k-3 Year IRA Certificates
1.80%$1k-2 Year Roth IRA Certificates
1.80%$1k-2 Year CESA Certificates
1.80%$1k-2 Year IRA Certificates
1.50%$1k-15 Month Roth IRA Certificates
1.50%$1k-18 Month Roth IRA Certificates
1.50%$1k-15 Month CESA Certificates
1.50%$1k-18 Month CESA Certificates
1.50%$1k-15 Month IRA Certificates
1.50%$1k-18 Month IRA Certificates
1.25%$1k-9 Month Roth IRA Certificates
1.25%$1k-1 Year Roth IRA Certificates
1.25%$1k-9 Month CESA Certificates
1.25%$1k-1 Year CESA Certificates
1.25%$1k-9 Month IRA Certificates
1.25%$1k-1 Year IRA Certificates
0.75%$1k-6 Month CESA Certificates
0.75%$1k-6 Month IRA Certificates
0.75%$1k-6 Month Roth IRA Certificates
0.50%$1k-3 Month CESA Certificates
0.50%$1k-3 Month IRA Certificates
0.50%$1k-3 Month Roth IRA Certificates

Institution Statistics


NCUA #66593
BankRate ReportView
Year Established1924
Employees28
Primary Regulator

Assets and Liabilities

Assets$163.40 million
Loans$100.41 million
Deposits$145.14 million
Equity Capital$17.64 million
Loan Loss Allowance$620,000
Unbacked Noncurrent Loans$560,000
Real Estate Owned$713,000

Historic Data - March 2009

Assets$128.73 million
Equity Capital$18.35 million
Loan Loss Allowance$369,000
Unbacked Noncurrent Loans$112,000

Profit Margin - Quarterly

Net Interest Margin1.56%
Return on Assets1.18%
Return on Equity10.89%
Interest Income$1.63 million
Non-Interest Income$292,000

Institution Health


Overall Score:
4 out of 5
4
Texas Ratio5
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 March 1, 2010 First Priority CU had $1.27 million in non-current loans and owned real-estate with $18.26 million in equity and loan loss allowances on hand to cover it. This gives First Priority CU a Texas Ratio of 6.97% which is excellent. Any bank with a Texas Ratio near or greater than 100% is considered at risk.
Texas Ratio Trend0
The Texas Ratio for First Priority CU increased dramatically from 0.60% as of March 1, 2009 to 6.97% as of March 1, 2010, resulting in a negative change of 1,065.62%. This indicates that the balance sheet and financial strength for First Priority CU has declined dramatically in recent periods.
Deposit Growth5
In the past year, First Priority CU has increased it's total deposits by $54.94 million, resulting in 60.92% 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 CU has shown is excellent.
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 Priority CU has $163.4 million in assets with $18.26 million in equity, resulting in a capitalization level of 11.17%, which is average.
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