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978-632-2542
P.O. Box 468
Gardner, MA 01440

GFA Federal Credit Union is headquartered in Gardner and is the 25th largest credit union in the state of Massachusetts. It is also the 518st largest credit union in the nation. It was established in 1938 and as of December of 2013, it had grown to 76 employees and 21,904 members. GFA Federal Credit Union's CD rates are 11% higher than the national average, and it has a B+ health rating.

Field of Membership Restrictions

To be eligible for membership you must live or work within GFA Federal Credit Union's field of membership or be an immediate relative of a current member. - See Details

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Reviews (2)

Discriminatory Practices

Twice I have been rejected for an auto loan with GFA. My credit score is nearly 800 and I have an annual income of over $175,000 with equity in my home. It must be a matter of someone there not liking me or maybe its my Latino heritage. Stay away from this organization and its discriminatory practices

Rates And Service

Great rates, both deposits and loans, including a 3.51% rewards checking account, and the highest regular savings rate in its market area.  Combine that with pleasant, personal service, plus investments and insurance, and you have a one-stop financial services organization... onlt criticism, they aren't everywhere.



Health

Data for Q4 2013

Institution Health

B+

Texas Ratio

GRADE:
A

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 GFA Federal Credit Union had $3.87 million in non-current loans and owned real-estate with $41.57 million in equity and loan loss allowances on hand to cover it. This gives GFA Federal Credit Union a Texas Ratio of 9.30% which is excellent. Any bank with a Texas Ratio near or greater than 100% is considered at risk.

Texas Ratio Trend

GRADE:
C+

The Texas Ratio for GFA Federal Credit Union experienced no significant changes from 6.88% as of December 31, 2012 to 9.30% as of December 31, 2013, resulting in a negative change of 35.15%. This indicates that the balance sheet and financial strength for GFA Federal Credit Union has had no significant changes in recent periods.

Deposit Growth

GRADE:
C+

In the past year, GFA Federal Credit Union has decreased its total deposits by -$2.94 million, resulting in -0.93% 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 GFA Federal Credit Union has shown is average.

Capitalization

GRADE:
B+

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. GFA Federal Credit Union has $409.79 million in assets with $41.57 million in equity, resulting in a capitalization level of 10.14%, which is above average.

Institution Statistics

Overall
NCUA #24279
Year Chartered1938
Employees76
Primary Regulator
Assets and Liabilities
Assets$409.79 million
Loans$198.83 million
Deposits$313.18 million
Equity Capital$38.84 million
Loan Loss Allowance$2.73 million
Unbacked Noncurrent Loans$3.50 million
Real Estate Owned$365,000
Historic Data - December 2012
Assets$419.22 million
Equity Capital$43.31 million
Loan Loss Allowance$2.01 million
Unbacked Noncurrent Loans$3.50 million
Real Estate Owned$1.14 million
Profit Margin - Quarterly
Net Interest Margin3.7%
Return on Assets0.29%
Return on Equity3.09%
Interest Income$11.80 million
Rates

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

GFA Federal Credit Union Savings Account Rates

DetailsAPYMINMAXPRODUCT
0.30%-$10kez$aver
0.20%$25k-Gold Key Club Savings
0.15%$5k-Share Savings
0.15%$25-Student Tycoon
0.15%--Student Saver
0.15%$500-Health Savings Account
0.15%$10k-Reward Savings
0.15%$5k-IRA Savings
0.15%$5k-Roth IRA Savings
0.15%$5k-Educational IRA Savings
0.10%--Business Savings
0.05%$25-Fusion Savings
0.02%--ez$aver

GFA Federal Credit Union Money Market Rates

DetailsAPYMINMAXPRODUCT
0.25%$50k-Cash Management Account
0.25%$100k-Business Money Market Savings

GFA Federal Credit Union Checking Account Rates

DetailsAPYMINMAXPRODUCT
1.50%-$10kRewards Checking
0.75%--IOLTA Now Checking
0.02%$2,500-Right Choice Checking
0.02%--Rewards Checking

GFA Federal Credit Union CD Rates

DetailsAPYMINMAXPRODUCT
2.02%$500-60 Month Share Certificate
1.71%$500-48-60 Month Share Certificate
1.41%$500-36-47 Month Share Certificate
1.21%$500-24 - 35 Month Share Certificate
1.11%$500-24 Month Bump Up Share Certificate
1.00%$500-12- 23 Month Share Certificate
1.00%$500-12 Month Student Saver Share Certificate
0.70%$500-6 - 12 Month Share Certificate
0.50%$500-3 - 5 Month Share Certificate

GFA Federal Credit Union IRA Rates

DetailsAPYMINMAXPRODUCT
2.02%$500-60 Month IRA Share Certificate
2.02%$500-60 Month Roth IRA Share Certificate
2.02%$500-60 Month Educational IRA Share Certificate
1.71%$500-48 Month IRA Share Certificate
1.71%$500-48 Month Roth IRA Share Certificate
1.71%$500-48 Month Educational IRA Share Certificate
1.41%$500-36 Month IRA Share Certificate
1.41%$500-36 Month Roth IRA Share Certificate
1.41%$500-36 Month Educational IRA Share Certificate
1.21%$500-24 Month IRA Share Certificate
1.21%$500-24 Month Roth IRA Share Certificate
1.21%$500-24 Month Educational IRA Share Certificate
1.00%$500-12 Month IRA Share Certificate
1.00%$500-12 Month Roth IRA Share Certificate
1.00%$500-12 Month Educational IRA Share Certificate
0.70%$500-6 Month Educational IRA Share Certificate
0.70%$500-6 Month IRA Share Certificate
0.70%$500-6 Month Roth IRA Share Certificate
0.50%$500-3 Month Educational IRA Share Certificate
0.50%$500-3 Month IRA Share Certificate
0.50%$500-3 Month Roth IRA Share Certificate
Locations


GFA Federal Credit Union Locations
Branch Office35 Main StAshburnham, MA 014301290
Branch Office1 Jaffrey RdPeterborough, NH 03458-1707
Branch Office31 Sonja Dr Ste 1Rindge, NH 03461
Branch Office32 Pommogussett RdRutland, MA 015431461
Branch Office185 Central StWinchendon, MA 014751634
Branch Office2 Gardner RdHubbardston, MA 014521646
Branch Office67 Pearson BlvdGardner, MA 014403368
Branch Office229 Parker StGardner, MA 014403703
Branch Office866 Merriam Ave Unit 1Leominster, MA 01453