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3110 37th Ave
Long Island Cit, NY 11101

Greater Metro Credit Union is headquartered in Long Island City and is the 76th largest credit union in the state of New York. It is also the 1,574th largest credit union in the nation. It was established in 1970 and as of March of 2014, it had grown to 11 employees and 5,409 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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Data for Q1 2014

Institution Health

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


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 Metro Credit Union had $527,000 in non-current loans and owned real-estate with $12.45 million in equity and loan loss allowances on hand to cover it. This gives Greater Metro Credit Union a Texas Ratio of 4.23% which is excellent. Any bank with a Texas Ratio near or greater than 100% is considered at risk.

Texas Ratio Trend


The Texas Ratio for Greater Metro Credit Union experienced no significant changes from 1.21% as of March 31, 2013 to 4.23% as of March 31, 2014, resulting in a negative change of 250.65%. This indicates that the balance sheet and financial strength for Greater Metro Credit Union has had no significant changes in recent periods.

Deposit Growth


In the past year, Greater Metro Credit Union has decreased its total deposits by -$1.54 million, resulting in -1.82% 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 average.



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 $95.37 million in assets with $12.45 million in equity, resulting in a capitalization level of 13.05%, which is excellent.

Institution Statistics

NCUA #20382
Year Chartered1970
Primary Regulator
Assets and Liabilities
Assets$95.37 million
Loans$36.11 million
Deposits$82.66 million
Equity Capital$12.14 million
Loan Loss Allowance$306,000
Unbacked Noncurrent Loans$527,000
Real Estate Owned$0
Historic Data - March 2013
Assets$96.30 million
Equity Capital$11.47 million
Loan Loss Allowance$296,000
Unbacked Noncurrent Loans$527,000
Real Estate Owned$0
Profit Margin - Quarterly
Net Interest Margin0.9%
Return on Assets0.06%
Return on Equity0.46%
Interest Income$606,000

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Greater Metro Credit Union Savings Account Rates

0.20%$500-Regular Share
0.20%$500-IRA Share
0.20%$500-Roth IRA Share
0.20%$500-CESA Share
0.20%$25-Savings Club

Greater Metro Credit Union Money Market Rates

0.25%$500-Money Market

Greater Metro Credit Union Checking Account Rates

0.10%$100-Hifi Draft (Checking)

Greater Metro Credit Union CD Rates

1.56%$500-60 Month Share Certificate
1.46%$500-48 Month Share Certificate
1.31%$500-36 Month Share Certificate
1.01%$500-24 Month Share Certificate
0.65%$500-18 Month Share Certificate
0.50%$500-12 Month Share Certificate
0.40%$500-6 Month Share Certificate
0.25%$500-3 Month Share Certificate

Greater Metro Credit Union IRA Rates

1.56%$500-60 Month IRA Certificate
1.46%$500-48 Month IRA Certificate
1.31%$500-36 Month IRA Certificate
1.01%$500-24 Month IRA Certificate
0.65%$500-18 Month IRA Certificate
0.50%$500-12 Month IRA Certificate
0.40%$500-6 Month IRA Certificate
0.25%$500-3 Month IRA Certificate

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