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Overview / Commentary
888-554-2328
40 W Century Rd
Paramus, NJ 07652-1454

Greater Alliance Credit Union is headquartered in Paramus and is the 17st largest credit union in the state of New Jersey. It is also the 1,076th largest credit union in the nation. It was established in 1937 and as of March of 2014, it had grown to 51 employees and 18,525 members. Greater Alliance Credit Union has a C health rating.

Field of Membership Restrictions

Membership into Greater Alliance FCU is open to anyone who lives, works, does business, worships, volunteers, or attends school in Bergen or Passaic Counties, New Jersey. - See Details

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Health

Data for Q1 2014

Institution Health

C

Texas Ratio

GRADE:
C

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 Greater Alliance Credit Union had $4.22 million in non-current loans and owned real-estate with $13.1 million in equity and loan loss allowances on hand to cover it. This gives Greater Alliance Credit Union a Texas Ratio of 32.17% which is 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 Greater Alliance Credit Union increased slightly from 18.03% as of March 31, 2013 to 32.17% as of March 31, 2014, resulting in a negative change of 78.48%. This indicates that the balance sheet and financial strength for Greater Alliance Credit Union has declined slightly in recent periods.

Deposit Growth

GRADE:
B+

In the past year, Greater Alliance Credit Union has increased its total deposits by $2.2 million, resulting in 1.51% 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 Greater Alliance 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. Greater Alliance Credit Union has $163.9 million in assets with $13.1 million in equity, resulting in a capitalization level of 8.00%, which is below average.

Institution Statistics

Overall
NCUA #2182
Year Chartered1937
Employees51
Primary Regulator
Assets and Liabilities
Assets$163.90 million
Loans$132.70 million
Deposits$148.18 million
Equity Capital$11.50 million
Loan Loss Allowance$1.61 million
Unbacked Noncurrent Loans$4.06 million
Real Estate Owned$155,000
Historic Data - March 2013
Assets$161.19 million
Equity Capital$10.53 million
Loan Loss Allowance$1.25 million
Unbacked Noncurrent Loans$4.06 million
Real Estate Owned$121,000
Profit Margin - Quarterly
Return on Assets0.37%
Return on Equity5.22%
Interest Income$1.73 million
Rates
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Greater Alliance Credit Union CD Rates

DetailsAPYMINMAXPRODUCT
1.80%$500-60 Month Share Certificate
1.55%$500-48 Month Share Certificate
1.25%$500-36 Month Share Certificate
0.80%$500-24 Month Share Certificate
0.50%$500-12 Month Share Certificate
0.40%$500-6 Month Share Certificate
0.30%$500-3 Month Share Certificate

Greater Alliance Credit Union IRA Rates

DetailsAPYMINMAXPRODUCT
1.85%$500-60 Month IRA Certificate
1.60%$500-48 Month IRA Certificate
1.30%$500-36 Month IRA Certificate
0.85%$500-24 Month IRA Certificate
0.55%$500-12 Month IRA Certificate
0.45%$500-6 Month IRA Certificate
0.35%$500-3 Month IRA Certificate
Locations


Greater Alliance Credit Union Locations
Branch Office40 W Century RdParamus, NJ 07652-1454
Branch Office359 Main StHackensack, NJ 07601-5806
Branch Office66 Hamilton StPaterson, NJ 07505-2079