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888-554-2328
40 West Century Road
Paramus, NJ 07652

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 1,087th largest credit union in the nation. It was established in 1937 and as of December of 2013, it had grown to 51 employees and 18,324 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 Q4 2013

Institution Health

C+

Texas Ratio

GRADE:
C

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 Greater Alliance Credit Union had $4.23 million in non-current loans and owned real-estate with $12.83 million in equity and loan loss allowances on hand to cover it. This gives Greater Alliance Credit Union a Texas Ratio of 32.94% 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 experienced no significant changes from 28.40% as of December 31, 2012 to 32.94% as of December 31, 2013, resulting in a negative change of 16.02%. This indicates that the balance sheet and financial strength for Greater Alliance Credit Union has had no significant changes in recent periods.

Deposit Growth

GRADE:
C+

In the past year, Greater Alliance Credit Union has decreased its total deposits by $-499,000, resulting in -0.35% 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 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 $157.8 million in assets with $12.83 million in equity, resulting in a capitalization level of 8.13%, which is average.

Institution Statistics

Overall
NCUA #2182
Year Chartered1937
Employees51
Primary Regulator
Assets and Liabilities
Assets$157.80 million
Loans$133.21 million
Deposits$142.28 million
Equity Capital$11.29 million
Loan Loss Allowance$1.54 million
Unbacked Noncurrent Loans$4.07 million
Real Estate Owned$155,000
Historic Data - December 2012
Assets$157.73 million
Equity Capital$10.29 million
Loan Loss Allowance$1.19 million
Unbacked Noncurrent Loans$4.07 million
Real Estate Owned$382,000
Profit Margin - Quarterly
Net Interest Margin4.69%
Return on Assets0.3%
Return on Equity4.23%
Interest Income$7.02 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