First Trade Union Savings

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

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 ...

3.25% 4-Year CD at First Trade Union Bank - Available Nationwide - 8/4/2009

Update 8/08/09: The CD rates have fallen. Please check the bank's website for the latest rates.First Trade Union Bank is offering competitive rates on its long-term CDs. These include a 3.00% APY 3-year CD, a 3.25% APY 4-year CD and a 3.50% APY 5-year...

2.75% 12-Month CD and Other Competitive CD Rates at First Trade Union Bank - Available Nationwide - 3/26/2009

First Trade Union Bank continues to offer competitive rates on its CDs. I first posted on the bank in February when I focused mostly on their High & Mighty Savings Account. The rate has gone down on that account, but it's still over 3% as of today...

3.00% 18-Month CD & 3.25% Internet Savings Account at First Trade Union Bank - Nationally Available - 2/18/2009

Update 12/12/09: The High & Mighty Savings account rate is now 1.50% APY. CD rates have also fallen. Refer to the bottom of the post for the rate history.First Trade Union Bank is offering competitive rates on its CDs and savings account. Some of the...

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

First Trade Union Savings Checking Account Rates

	Apy	Min	Max	Product
	0.20%	$1k	-	Virtual Checking

First Trade Union Savings 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 Savings Money Market Rates

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

First Trade Union Savings 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 Savings 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: 5/27/2012

Data for Q1 2012

Institution Statistics

First Trade Union Bank
OTS #	08433
FDIC Certificate #	32551
BankRate Report	View
Year Established	1987
Employees	73
Primary Regulator	OCC
Assets and Liabilities
Assets	$588.35 million
Loans	$378.19 million
Deposits	$459.88 million
Equity Capital	$55.23 million
Loan Loss Allowance	$9.68 million
Unbacked Noncurrent Loans	$8.96 million
Real Estate Owned	$505,000
Historic Data - March 2011
Assets	$611.18 million
Equity Capital	$53.69 million
Loan Loss Allowance	$9.05 million
Unbacked Noncurrent Loans	$14.92 million
Profit Margin - Quarterly
Net Interest Margin	3.11%
Return on Assets	0.13%
Return on Equity	1.45%
Interest Income	$5.83 million

Institution Health

Overall Score:

4 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 March 31, 2012 First Trade Union Savings had $9.46 million in non-current loans and owned real-estate with $64.92 million in equity and loan loss allowances on hand to cover it. This gives First Trade Union Savings a Texas Ratio of 14.58% 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 Savings decreased slightly from 23.78% as of March 31, 2011 to 14.58% as of March 31, 2012, resulting in a positive change of 38.68%.This indicates that the balance sheet and financial strength for First Trade Union Savings has improved slightly in recent periods.
Deposit Growth
In the past year, First Trade Union Savings has decreased its total deposits by -$2.63 million, resulting in -0.57% 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 Savings has shown is average.
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 Savings has $588.35 million in assets with $64.92 million in equity, resulting in a capitalization level of 11.03%, which is above average.