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Overview / Commentary
718-361-1002
3110 37th Ave
Long Island Cit, NY 11101

Greater Metro Credit Union is headquartered in LONG ISLAND CIT and is the 76th largest credit union in the state of New York. It is also the 1,560th largest credit union in the nation. It was established in 1970 and as of December of 2013, it had grown to 12 employees and 5,437 members. Greater Metro Credit Union has a B+ health rating.

Field of Membership Restrictions

Membership in Greater Metro FCU is primarily based on select employer groups. Unfortunately, this makes it difficult for many to join. Please refer to the credit union's Membership Eligibility section for more details. Greater Metro FCU was originally established in 1970 by a group of IBM employees in the Metropolitan New York area. They've added more employer groups, but they haven't gone to a community-based field of membership. - See Details

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Health

Data for Q4 2013

Institution Health

B+
Additional Factors: Institutions with a small asset base or a short operating history can represent an instability risk beyond what their financial ratios indicate. Greater Metro Credit Union has a relatively low asset base.

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 Greater Metro Credit Union had $452,000 in non-current loans and owned real-estate with $12.09 million in equity and loan loss allowances on hand to cover it. This gives Greater Metro Credit Union a Texas Ratio of 3.74% 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 Greater Metro Credit Union experienced no significant changes from 1.72% as of December 31, 2012 to 3.74% as of December 31, 2013, resulting in a negative change of 116.93%. This indicates that the balance sheet and financial strength for Greater Metro Credit Union has had no significant changes in recent periods.

Deposit Growth

GRADE:
C-

In the past year, Greater Metro Credit Union has decreased its total deposits by -$3.91 million, resulting in -4.59% 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 Metro Credit Union has shown is below average.

Capitalization

GRADE:
A+

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 Metro Credit Union has $93.44 million in assets with $12.09 million in equity, resulting in a capitalization level of 12.94%, which is excellent.

Institution Statistics

Overall
NCUA #20382
Year Chartered1970
Employees12
Primary Regulator
Assets and Liabilities
Assets$93.44 million
Loans$36.38 million
Deposits$81.18 million
Equity Capital$11.80 million
Loan Loss Allowance$292,000
Unbacked Noncurrent Loans$452,000
Real Estate Owned$0
Historic Data - December 2012
Assets$96.85 million
Equity Capital$11.42 million
Loan Loss Allowance$303,000
Unbacked Noncurrent Loans$452,000
Real Estate Owned$0
Profit Margin - Quarterly
Net Interest Margin3.58%
Return on Assets0.23%
Return on Equity1.83%
Interest Income$2.60 million
Rates

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

Greater Metro Credit Union Savings Account Rates

DetailsAPYMINMAXPRODUCT
0.25%$500-Regular Share
0.25%$500-IRA Share
0.25%$500-Roth IRA Share
0.25%$500-CESA Share
0.25%$25-Savings Club

Greater Metro Credit Union Money Market Rates

DetailsAPYMINMAXPRODUCT
0.30%$500-Money Market

Greater Metro Credit Union Checking Account Rates

DetailsAPYMINMAXPRODUCT
0.10%$100-Hifi Draft (Checking)

Greater Metro Credit Union CD Rates

DetailsAPYMINMAXPRODUCT
1.66%$500-60 Month Share Certificate
1.56%$500-48 Month Share Certificate
1.36%$500-36 Month Share Certificate
1.06%$500-24 Month Share Certificate
0.80%$500-18 Month Share Certificate
0.55%$500-12 Month Share Certificate
0.45%$500-6 Month Share Certificate
0.30%$500-3 Month Share Certificate

Greater Metro Credit Union IRA Rates

DetailsAPYMINMAXPRODUCT
1.66%$500-60 Month IRA Certificate (Traditional,Roth,CESA)
1.56%$500-48 Month IRA Certificate (Traditional,Roth,CESA)
1.36%$500-36 Month IRA Certificate (Traditional,Roth,CESA)
1.06%$500-24 Month IRA Certificate (Traditional,Roth,CESA)
0.80%$500-18 Month IRA Certificate (Traditional,Roth,CESA)
0.55%$500-12 Month IRA Certificate (Traditional,Roth,CESA)
0.45%$500-6 Month IRA Certificate (Traditional,Roth,CESA)
0.30%$500-3 Month IRA Certificate (Traditional,Roth,CESA)
Locations


Greater Metro Credit Union Locations
Branch Office423 E 23rd StNew York, NY 10010-5011
Branch Office3110 37th AveLong Island City, NY 11101-2128