5 star ratingAverage User Rating:
5 star rating based on 1 review.

Granite State Credit Union

Granite State Credit Union Locations
PO Box 6420
Manchester, NH 03108
1-800-645-GSCU
www.gscu.org

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 651st largest credit union in the nation. It was established in 1945 and as of December of 2011, it had grown to 105 employees and 27,240 members. Granite State Credit Union's money market rates are 36% higher than the national average, and it boasts a 5-star health rating.



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

Granite State Credit Union Checking Account Rates

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0.10%$25k-Advantage Checking

Granite State Credit Union Savings Account Rates

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0.65%$50k-Advantage Plus Savings
0.55%$100k-Advantage Savings
0.10%--IRA Savings
0.10%--Roth IRA Savings
0.10%--SEP IRA Savings
0.10%--Coverdell ESA
0.05%--Basic Savings

Granite State Credit Union Money Market Rates

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0.60%$10k-Easy Money Market Account
0.50%$100k-Money Market Account

Granite State Credit Union CD Rates

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2.00%$1k-60-96 Month Flexible Term Share Certificate
1.50%$1k-48-59 Month Flexible Term Share Certificate
1.21%$1k-36-47 Month Flexible Term Share Certificate
0.90%$1k-24-35 Month Flexible Term Share Certificate
0.80%$1k-15 Month Flexible Term Share Certificate Special
0.70%$1k-18-23 Month Flexible Term Share Certificate
0.50%$1k-12-17 Month Flexible Term Share Certificate
0.35%$1k-6-11 Month Flexible Term Share Certificate

Granite State Credit Union IRA Rates

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2.00%$1k-60-96 Month Flexible Term IRA Certificate
2.00%$1k-60-96 Month Flexible Term Roth IRA Certificate
2.00%$1k-60-96 Month Flexible Term SEP IRA Certificate
1.50%$1k-48-59 Month Flexible Term IRA Certificate
1.50%$1k-48-59 Month Flexible Term Roth IRA Certificate
1.50%$1k-48-59 Month Flexible Term SEP IRA Certificate
1.21%$1k-36-47 Month Flexible Term IRA Certificate
1.21%$1k-36-47 Month Flexible Term Roth IRA Certificate
1.21%$1k-36-47 Month Flexible Term SEP IRA Certificate
0.90%$1k-24-35 Month Flexible Term IRA Certificate
0.90%$1k-24-35 Month Flexible Term Roth IRA Certificate
0.90%$1k-24-35 Month Flexible Term SEP IRA Certificate
0.80%$1k-15 Month Flexible Term IRA Certificate Special
0.80%$1k-15 Month Flexible Term Roth IRA Certificate Special
0.80%$1k-15 Month Flexible Term SEP IRA Certificate Special
0.70%$1k-18-23 Month Flexible Term IRA Certificate
0.70%$1k-18-23 Month Flexible Term Roth IRA Certificate
0.70%$1k-18-23 Month Flexible Term SEP IRA Certificate
0.50%$1k-12-17 Month Flexible Term IRA Certificate
0.50%$1k-12-17 Month Flexible Term Roth IRA Certificate
0.50%$1k-12-17 Month Flexible Term SEP IRA Certificate
0.35%$1k-6-11 Month Flexible Term IRA Certificate
0.35%$1k-6-11 Month Flexible Term Roth IRA Certificate
0.35%$1k-6-11 Month Flexible Term SEP IRA Certificate

Rates updated: 5/25/2012

Data for Q4 2011


Institution Statistics


GRANITE STATE
NCUA #63272
BankRate ReportView
Year Chartered1945
Employees105
Primary Regulator

Assets and Liabilities

Assets$289.95 million
Loans$210.54 million
Deposits$261.17 million
Equity Capital$22.69 million
Loan Loss Allowance$1.36 million
Unbacked Noncurrent Loans$507,000
Real Estate Owned$128,000

Historic Data - December 2010

Assets$278.71 million
Equity Capital$21.67 million
Loan Loss Allowance$1.21 million
Unbacked Noncurrent Loans$2.05 million

Profit Margin - Quarterly

Net Interest Margin4.67%
Return on Assets0.26%
Return on Equity3.38%
Interest Income$12.13 million
Non-Interest Income$4.82 million

Institution Health


Overall Score:
5 out of 5
5
Texas Ratio5
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, 2011 Granite State Credit Union had $635,000 in non-current loans and owned real-estate with $24.04 million in equity and loan loss allowances on hand to cover it. This gives Granite State Credit Union a Texas Ratio of 2.64% which is excellent. Any bank with a Texas Ratio near or greater than 100% is considered at risk.
Texas Ratio Trend5
The Texas Ratio for Granite State Credit Union decreased significantly from 8.95% as of December 31, 2010 to 2.64% as of December 31, 2011, resulting in a positive change of 70.48%.This indicates that the balance sheet and financial strength for Granite State Credit Union has improved significantly in recent periods.
Deposit Growth5
In the past year, Granite State Credit Union has increased its total deposits by $13.92 million, resulting in 5.63% 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 excellent.
Capitalization3
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 $289.95 million in assets with $24.04 million in equity, resulting in a capitalization level of 8.29%, which is average.
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Credit Unions Rock
5 stars - MelissaB - Thursday, May 12, 2011 - 4:07 PM

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.

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