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Overview / Commentary
1-800-645-GSCU
1415 Elm St
Manchester, NH 03101-1325

Granite State Credit Union is headquartered in Manchester and is the 6th largest credit union in the state of New Hampshire. It is also the 644th largest credit union in the nation. It was established in 1945 and as of March of 2014, it had grown to 114 employees and 30,296 members. Granite State Credit Union has a B+ health rating.

Field of Membership Restrictions

Must live or work in New Hampshire. Also open to employees of several Select Employer Groups. - See Details

Reviews (1)

Credit Unions Rock

I recently joined the Granite State Credit Union because they had a promotion to refinance my car loan. I went from having an interest rate of 7.99% to 2.65%! They were extremely friendly and helpful throughtout the process and it was super easy. I applied for the loan online which I thought was awesome for a Credit Union and I received a phone call within minutes telling me I was approved. All I had to do was go into the credit union, deposit $100 into a savings account because I was not already a member so I had to join and within 30 minutes all the paperwork was signed and I was saving hundreds on my car loan. Since then I've received emails and phone calls thanking me for my business and asking if I needed anything or had questions. I've had a checking account with a nation wide bank for over 10 years and have never received such phone calls or emails.



Health

Data for Q1 2014

Institution Health

B+

Texas Ratio

GRADE:
A+

The Texas Ratio is an indicator of how much capital a bank has available compared to the total value of loans considered at risk. As of March 31, 2014 Granite State Credit Union had $2.02 million in non-current loans and owned real-estate with $27.67 million in equity and loan loss allowances on hand to cover it. This gives Granite State Credit Union a Texas Ratio of 7.31% 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 Granite State Credit Union experienced no significant changes from 7.72% as of March 31, 2013 to 7.31% as of March 31, 2014, resulting in a positive change of 5.29%.This indicates that the balance sheet and financial strength for Granite State Credit Union has had no significant changes in recent periods.

Deposit Growth

GRADE:
B+

In the past year, Granite State Credit Union has increased its total deposits by $5.52 million, resulting in 1.88% 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 Granite State Credit Union 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. Granite State Credit Union has $333.2 million in assets with $27.67 million in equity, resulting in a capitalization level of 8.30%, which is average.

Institution Statistics

Overall
NCUA #63272
Year Chartered1945
Employees114
Primary Regulator
Assets and Liabilities
Assets$333.20 million
Loans$254.50 million
Deposits$299.33 million
Equity Capital$26.15 million
Loan Loss Allowance$1.52 million
Unbacked Noncurrent Loans$2.02 million
Real Estate Owned$0
Historic Data - March 2013
Assets$320.13 million
Equity Capital$24.52 million
Loan Loss Allowance$1.49 million
Unbacked Noncurrent Loans$2.02 million
Real Estate Owned$66,000
Profit Margin - Quarterly
Net Interest Margin1.08%
Return on Assets0.56%
Return on Equity7.13%
Interest Income$3.02 million
Rates

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

Granite State Credit Union Savings Account Rates

DetailsAPYMINMAXPRODUCT
0.20%$50k-Advantage Savings
0.20%$50k-Advantage Plus Savings
0.20%$50k-IRA Advantage Savings
0.20%$50k-CESA Advantage Savings
0.20%$50k-Roth IRA Advantage Savings
0.20%$50k-SEP IRA Advantage Savings
0.05%--Basic Savings

Granite State Credit Union Money Market Rates

DetailsAPYMINMAXPRODUCT
0.20%$50k-Money Market Account
0.20%$10k-Easy Money Market Account

Granite State Credit Union Checking Account Rates

DetailsAPYMINMAXPRODUCT
0.05%$1k-Advantage Checking

Granite State Credit Union CD Rates

DetailsAPYMINMAXPRODUCT
1.60%$500-60-71 Month Flexible Term Share Certificate
1.60%$500-72-96 Month Flexible Term Share Certificate
1.40%$500-48-59 Month Flexible Term Share Certificate
1.10%$500-36-47 Month Flexible Term Share Certificate
0.75%$500-24-35 Month Flexible Term Share Certificate
0.55%$500-18 Month Flexible Term Share Certificate Special
0.45%$500-12-23 Month Flexible Term Share Certificate
0.25%$500-6-11 Month Flexible Term Share Certificate

Granite State Credit Union IRA Rates

DetailsAPYMINMAXPRODUCT
1.60%$500-60-71 Month Flexible Term IRA Certificate
1.60%$500-72-96 Month Flexible Term IRA Certificate
1.40%$500-48-59 Month Flexible Term IRA Certificate
1.10%$500-36-47 Month Flexible Term IRA Certificate
0.75%$500-24-35 Month Flexible Term IRA Certificate
0.55%$500-18 Month Flexible Term IRA Certificate Special
0.45%$500-12-23 Month Flexible Term IRA Certificate
0.25%$500-6-11 Month Flexible Term IRA Certificate
Locations


Granite State Credit Union Locations
Branch Office38 Birch StDerry, NH 03038
Branch Office1415 Elm StManchester, NH 03101-1325
Branch Office311 Sheep Davis RdConcord, NH 03301-5747
Branch Office200 Derry RdHudson, NH 03051-3320
Branch Office132 State Route 101AAmherst, NH 03031
Branch Office19 Elm StNashua, NH 03060-3326
Branch Office10 Chuck Druding DrNashua, NH 03063-3441
Branch Office145 Raymond RdCandia, NH 03034
Branch Office1415 Elm StManchester, NH 03101-1325
Branch Office68 Lafayette RdSeabrook, NH 03874-4507