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Overview / Commentary
617-482-4000
1 Harbor St, Ste 102
Boston, MA 02210

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.

Related Posts

Another Top Savings Account Rate at First Trade Union Bank - 12/18/2013

We have another internet savings account with a 1.00% APY. First Trade Union Bank has just increased the rate on its FT High-Yield Savings account from 0.70% to 1.00% APY. This applies to balances of ...

First Trade Union Bank Launches Mobile Payment, Updates Checking Bonus - 6/28/2013

First Trade Union Bank has launched a mobile payment and loyalty app called FT Pay. To help highlight this new product, the bank has added FT Pay to its FT Checking promotion. The promotion continues ...



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Health

Data for Q4 2013

Institution Health

B

Texas Ratio

GRADE:
B+

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 Trade Union Bank had $9.1 million in non-current loans and owned real-estate with $63.31 million in equity and loan loss allowances on hand to cover it. This gives First Trade Union Bank a Texas Ratio of 14.37% which is above average. Any bank with a Texas Ratio near or greater than 100% is considered at risk.

Texas Ratio Trend

GRADE:
C+

The Texas Ratio for First Trade Union Bank experienced no significant changes from 12.41% as of December 31, 2012 to 14.37% as of December 31, 2013, resulting in a negative change of 15.76%. This indicates that the balance sheet and financial strength for First Trade Union Bank has had no significant changes in recent periods.

Deposit Growth

GRADE:
B+

In the past year, First Trade Union Bank has increased its total deposits by $7.38 million, resulting in 1.44% 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 above average.

Capitalization

GRADE:
C+

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 $668.81 million in assets with $63.31 million in equity, resulting in a capitalization level of 9.47%, which is average.

Institution Statistics

Overall
FDIC Certificate #32551
Year Established1987
Employees73
Primary RegulatorOCC
Assets and Liabilities
Assets$668.81 million
Loans$541.53 million
Deposits$519.39 million
Equity Capital$56.49 million
Loan Loss Allowance$6.81 million
Unbacked Noncurrent Loans$4.42 million
Real Estate Owned$4.68 million
Historic Data - December 2012
Assets$632.20 million
Equity Capital$55.88 million
Loan Loss Allowance$7.49 million
Unbacked Noncurrent Loans$4.42 million
Real Estate Owned$0
Profit Margin - Quarterly
Net Interest Margin3.28%
Return on Assets0.36%
Return on Equity4.08%
Interest Income$23.39 million
Rates

Always verify rates and promotions with the bank or credit union. We are not First Trade Union Bank, we are a rate comparison website and can not provide official rates or promotions.

First Trade Union Bank Savings Account Rates

DetailsAPYMINMAXPRODUCT
0.95%$2,500-FT High-Yield 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

DetailsAPYMINMAXPRODUCT
0.10%$10k-Retail Money Market

First Trade Union Bank Checking Account Rates

DetailsAPYMINMAXPRODUCT
0.05%$1k-FT Checking

First Trade Union Bank CD Rates

DetailsAPYMINMAXPRODUCT
1.25%$500-5 Year CD
1.00%$500-4 Year CD
0.90%$500-3 Year CD
0.75%$500-18 Month CD
0.75%$500-18 Month Jump-Up CD
0.70%$500-2 1/2 Year CD
0.50%$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

DetailsAPYMINMAXPRODUCT
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
0.50%$500-2 Year IRA
0.30%$500-1 Year IRA
0.30%$500-15 Month Step-Up IRA
0.25%$1k-6 Month IRA
Locations


First Trade Union Bank Locations
First Trade Union Bank1 Harbor St, Ste 102Boston, MA 2210
Lakeville Rd Branch2020 Lakeville RdNew Hyde Park, NY 11040