First Trade Union Bank

1 Harbor St, Ste 102
Boston, MA 02210
617-482-4000
www.ftub.com

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First Trade Union Bank, a leader in community banking, was founded in 1987 by the Massachusetts Carpenters Combined Pension and Annuity Funds (The Funds). In 2006, the Empire State Carpenters’ Pension Fund invested in the Bank as an equity partner. They are a growing institution that currently serves as the trusted advisor to a broad range of clients.

First Trade Union Bank Updates Checking Account and Bonus - 4/10/2013

First Trade Union Bank has again updated its checking account promotion. It has also renamed its online checking account. It’s now called FT Checking. The promotion continues to offer a cash bonus of ...

New $100 Checking Account Bonus at First Trade Union Bank - 1/3/2013

First Trade Union Savings has updated its promotion for its Virtual Checking Account. There is still a $100 cash bonus, but the requirements have changed a little. The new expiration date is 3/18/2013 ...

$100 Checking Account Bonus at First Trade Union Bank - 6/29/2012

First Trade Union Savings continues to offer a nice checking account promotion. They're offering a $100 cash bonus when you open their Virtual Checking Account and complete a few tasks. These task req ...

Checking Bonus & Other Deals at First Trade Union Savings - 10/17/2011

First Trade Union Savings has several good deposit deals. First is a checking account promotion. They're offering a $100 cash bonus when you open their Virtual Checking Account and complete a few task ...

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

First Trade Union Bank Checking Account Rates

	Apy	Min	Max	Product
	0.05%	$1k	-	FT Checking

First Trade Union Bank Savings Account Rates

Apy	Min	Max	Product
0.70%	$2,500	-	High and Mighty Savings
0.05%	$50	-	Union Advantage Savings
0.05%	$50	-	Statement Savings
0.05%	$50	-	Passbook Savings
0.05%	$50	-	Holiday Club

First Trade Union Bank Money Market Rates

	Apy	Min	Max	Product
	0.10%	$10k	-	Retail Money Market

First Trade Union Bank CD Rates

Apy	Min	Max	Product
1.25%	$500	-	5 Year CD
1.00%	$500	-	4 Year CD
0.90%	$500	-	3 Year CD
0.75%	$500	-	18 Month Jump-Up CD
0.70%	$500	-	2 1/2 Year CD
0.65%	$500	-	18 Month CD
0.65%	$500	-	2 Year CD
0.30%	$500	-	1 Year CD
0.30%	$500	-	13 Month CD
0.30%	$500	-	15 Month CD
0.30%	$500	-	15 Month Step-Up CD
0.25%	$1k	-	6 Month CD
0.25%	$1k	-	9 Month CD
0.20%	$1k	-	3 Month CD
0.20%	$1k	-	5 Month CD

First Trade Union Bank IRA Rates

Apy	Min	Max	Product
1.25%	$500	-	5 Year IRA
1.00%	$500	-	4 Year IRA
0.90%	$500	-	3 Year IRA
0.75%	$500	-	18 Month Jump-Up IRA
0.70%	$500	-	2 1/2 Year IRA
0.65%	$500	-	18 Month IRA
0.65%	$500	-	2 Year IRA
0.30%	$500	-	1 Year IRA
0.30%	$500	-	15 Month Step-Up IRA
0.25%	$1k	-	6 Month IRA

Rates updated: 5/21/2013

Data for Q4 2012

Institution Statistics

First Trade Union Bank
OTS #	08433
FDIC Certificate #	32551
BankRate Report	View
Year Established	1987
Employees	75
Primary Regulator	OCC
Assets and Liabilities
Assets	$632.20 million
Loans	$456.26 million
Deposits	$512.00 million
Equity Capital	$55.88 million
Loan Loss Allowance	$7.49 million
Unbacked Noncurrent Loans	$7.69 million
Historic Data - December 2011
Assets	$607.56 million
Equity Capital	$55.48 million
Loan Loss Allowance	$7.06 million
Unbacked Noncurrent Loans	$9.99 million
Real Estate Owned	$575,000
Profit Margin - Quarterly
Net Interest Margin	3.17%
Return on Assets	0.29%
Return on Equity	3.12%
Interest Income	$23.01 million

Institution Health

Overall Score:

5 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, 2012 First Trade Union Bank had $7.69 million in non-current loans and owned real-estate with $63.37 million in equity and loan loss allowances on hand to cover it. This gives First Trade Union Bank a Texas Ratio of 12.14% which is above average. Any bank with a Texas Ratio near or greater than 100% is considered at risk.
Texas Ratio Trend
The Texas Ratio for First Trade Union Bank decreased slightly from 16.62% as of December 31, 2011 to 12.14% as of December 31, 2012, resulting in a positive change of 26.94%.This indicates that the balance sheet and financial strength for First Trade Union Bank has improved slightly in recent periods.
Deposit Growth
In the past year, First Trade Union Bank has increased its total deposits by $38.37 million, resulting in 8.1% 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 Trade Union Bank 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 Trade Union Bank has $632.2 million in assets with $63.37 million in equity, resulting in a capitalization level of 10.02%, which is above average.

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Vote: 0	$100 FT Checking promotion OfferCheckingCash	View Promo Details »
	Leave a Comment (2) »
	Anonymous - April 11, 2013 My opinion of this bonus is stay away! I initially signed up for this bonus, later regretted it and had to close down account before I received the bonus. I opened up the account and about two weeks later they contacted me for additional info. So I faxed them the required info and waited. Two weeks later they again contacted me saying they did not receive the fax. Again, I fax the required info and another two weeks went be and they said they never received the fax. I then called customer service and explained the situation, the csr gave me another fax number to send the info. For the third time I faxed in the required info and waited. Another 10 days roll by and this time I called in and asked the csr if they received my fax at the new number. The csr said they received the fax, but it was blank! I surprised and the csr said he would email a copy of the blank fax. I received the email the next day and looked over the attachment fax. Indeed the fax was blank, but the fax in question was from Dow Chemical!! As you can imagine the frustration mounted and I told First Trade Union Bank please close my account. Anonymous - April 11, 2013 Would setting up a transfer from PayPal satisfy the direct deposit requirement? I have heard that it used to work for some banks, but that person hasn't tried it for a few years.