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Harvard University Employees Credit Union

Overview / Commentary
617-495-4460
104 Mount Auburn St Ste4
Cambridge, MA 02138

Harvard University Employees Credit Union is headquartered in Cambridge and is the 22nd largest credit union in the state of Massachusetts. It is also the 491st largest credit union in the nation. It was established in 1939 and as of December of 2013, it had grown to 71 employees and 40,884 members. Harvard University Employees Credit Union has a A health rating.

Field of Membership Restrictions

Must be an employee, student or alumni of Harvard University, Harvard teaching Hospital or other affiliated organization. - See Details

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Health

Data for Q4 2013

Institution Health

A

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 Harvard University Employees Credit Union had $1.15 million in non-current loans and owned real-estate with $39.21 million in equity and loan loss allowances on hand to cover it. This gives Harvard University Employees Credit Union a Texas Ratio of 2.92% which is excellent. Any bank with a Texas Ratio near or greater than 100% is considered at risk.

Texas Ratio Trend

GRADE:
A+

The Texas Ratio for Harvard University Employees Credit Union decreased dramatically from 5.12% as of December 31, 2012 to 2.92% as of December 31, 2013, resulting in a positive change of 42.86%.This indicates that the balance sheet and financial strength for Harvard University Employees Credit Union has improved dramatically in recent periods.

Deposit Growth

GRADE:
A+

In the past year, Harvard University Employees Credit Union has increased its total deposits by $28.28 million, resulting in 7.6% 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 Harvard University Employees Credit Union has shown is excellent.

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. Harvard University Employees Credit Union has $442.67 million in assets with $39.21 million in equity, resulting in a capitalization level of 8.86%, which is average.

Institution Statistics

Overall
NCUA #67696
Year Chartered1939
Employees71
Primary Regulator
Assets and Liabilities
Assets$442.67 million
Loans$311.55 million
Deposits$400.37 million
Equity Capital$36.91 million
Loan Loss Allowance$2.30 million
Unbacked Noncurrent Loans$1.15 million
Real Estate Owned$0
Historic Data - December 2012
Assets$415.03 million
Equity Capital$35.59 million
Loan Loss Allowance$2.16 million
Unbacked Noncurrent Loans$1.15 million
Real Estate Owned$0
Profit Margin - Quarterly
Net Interest Margin4.85%
Return on Assets0.59%
Return on Equity7.09%
Interest Income$16.21 million
Rates

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

Harvard University Employees Credit Union Savings Account Rates

DetailsAPYMINMAXPRODUCT
0.25%--Holiday Club
0.25%--Vacation Club
0.10%--Share Savings

Harvard University Employees Credit Union Money Market Rates

DetailsAPYMINMAXPRODUCT
0.20%$100k-Money Market Savings
0.20%$100k-IRA Money Market

Harvard University Employees Credit Union Checking Account Rates

DetailsAPYMINMAXPRODUCT
0.05%$1,500-Crimson Elite Checking

Harvard University Employees Credit Union CD Rates

DetailsAPYMINMAXPRODUCT
1.15%$1k-60 Month Certificate
0.80%$1k-36 Month Certificate
0.65%$1k-24 Month Certificate
0.50%$1k-18 Month Certificate
0.35%$1k-12 Month Certificate
0.30%$1k-9 Month Certificate
0.25%$1k-6 Month Certificate
0.20%$1k-3 Month Certificate

Harvard University Employees Credit Union IRA Rates

DetailsAPYMINMAXPRODUCT
1.15%$1k-60 Month IRA Certificate (Traditional,Roth,CESA)
0.80%$1k-36 Month IRA Certificate (Traditional,Roth,CESA)
0.65%$1k-24 Month IRA Certificate (Traditional,Roth,CESA)
0.50%$1k-18 Month IRA Certificate (Traditional,Roth,CESA)
0.35%$1k-12 Month IRA Certificate (Traditional,Roth,CESA)
0.25%$1k-6 Month IRA Certificate (Traditional,Roth,CESA)
Locations


Harvard University Employees Credit Union Locations
Branch Office149 13th StCharlestown, MA 02129
Branch Office16 Dunster StCambridge, MA 02138-5003
Branch Office677 Huntington AveBoston, MA 02115-6028
Branch Office55 Fruit StBoston, MA 02114-2621
Branch Office104 Mount Auburn St Ste 4Cambridge, MA 02138-5019