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Overview / Commentary
978-537-8021
20 Adams St
Leominster, MA 01453

Leominster Credit Union is headquartered in Leominster and is the 12st largest credit union in the state of Massachusetts. It is also the 356th largest credit union in the nation. It was established in 1954 and as of March of 2014, it had grown to 120 employees and 52,807 members. Leominster Credit Union has a B+ health rating.

Field of Membership Restrictions

To be eligible, you must live, work, or have business in Worcester, Middlesex, Norfolk, Hampden, Franklin, or Hampshire Counties in Massachusetts and maintain a minimum of a $25.00 deposit account. - See Details

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Health

Data for Q1 2014

Institution Health

B+

Texas Ratio

GRADE:
A+

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 Leominster Credit Union had $2.12 million in non-current loans and owned real-estate with $59.97 million in equity and loan loss allowances on hand to cover it. This gives Leominster Credit Union a Texas Ratio of 3.54% 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 Leominster Credit Union decreased dramatically from 5.21% as of March 31, 2013 to 3.54% as of March 31, 2014, resulting in a positive change of 32.13%.This indicates that the balance sheet and financial strength for Leominster Credit Union has improved dramatically in recent periods.

Deposit Growth

GRADE:
C-

In the past year, Leominster Credit Union has decreased its total deposits by -$12.46 million, resulting in -2.6% 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 Leominster Credit Union has shown is below 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. Leominster Credit Union has $640.67 million in assets with $59.97 million in equity, resulting in a capitalization level of 9.36%, which is average.

Institution Statistics

Overall
NCUA #66699
Year Chartered1954
Employees120
Primary Regulator
Assets and Liabilities
Assets$640.67 million
Loans$411.79 million
Deposits$467.46 million
Equity Capital$58.00 million
Loan Loss Allowance$1.97 million
Unbacked Noncurrent Loans$1.84 million
Real Estate Owned$282,000
Historic Data - March 2013
Assets$612.73 million
Equity Capital$58.95 million
Loan Loss Allowance$1.83 million
Unbacked Noncurrent Loans$1.84 million
Real Estate Owned$455,000
Profit Margin - Quarterly
Net Interest Margin0.71%
Return on Assets0.23%
Return on Equity2.54%
Interest Income$5.22 million
Rates

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

Leominster Credit Union Savings Account Rates

DetailsAPYMINMAXPRODUCT
0.35%$50k-Premium Savings
0.25%$25-Daily IRA Savings Account
0.25%$25-Daily Roth IRA Savings Account
0.25%$25-Daily CESA Savings Account
0.15%$2k-Sterling Set
0.10%$25-A+ Savings
0.10%$25-Vacation Club Accounts
0.10%$25-Regular Savings - Statement
0.10%$25-Regular Savings - Passbook
0.10%$25-Holiday Club Accounts

Leominster Credit Union Money Market Rates

DetailsAPYMINMAXPRODUCT
0.35%$50k-VIP Money Market Account
0.25%$10k-Premium Money Market Account

Leominster Credit Union Checking Account Rates

DetailsAPYMINMAXPRODUCT
1.25%$25$25kRemarkable Rewards Checking - Qualifying
0.15%$5k-Premium Perks Checking
0.10%$25-A+ Checking
0.10%$25-DirectConnect Checking
0.10%$25-Remarkable Rewards Checking - Non Qualifying
0.10%$25-Special Privileges Checking

Leominster Credit Union CD Rates

DetailsAPYMINMAXPRODUCT
1.65%$1k-5 Year Term Share CD
1.50%$1k-4 Year Term Share CD
1.10%$1k-3 Year Term Share CD
0.85%$1k-2 Year Term Share CD
0.75%$1k-30 Month Term Share CD
0.65%$1k-18 Month Term Share CD
0.60%$1k-1 Year Term Share CD
0.35%$1k-6 Month Term Share CD
0.25%$1k-90 Day Term Share CD

Leominster Credit Union IRA Rates

DetailsAPYMINMAXPRODUCT
1.65%$1k-5 Year Term Share IRA
1.50%$1k-4 Year Term Share IRA
1.10%$1k-3 Year Term Share IRA
0.85%$1k-2 Year Term Share IRA
0.75%$1k-30 Month Term Share IRA
0.65%$1k-18 Month Term Share IRA
0.60%$1k-1 Year Term Share IRA
Locations


Leominster Credit Union Locations
Branch Office20 Adams StLeominster, MA 01453
Branch Office7 Main StSterling, MA 01564
Branch Office159 Mechanic StClinton, MA 01510
Branch Office1316 Main StLeominster, MA 01453
Branch Office715 Main StHolden, MA 01520
Branch Office200 W Boylston StClinton, MA 01510
Branch Office1401 Main StHolden, MA 01520
Branch Office137 Shrewsbury StWorcester, MA 01604
Branch Office910 W Boylston StWorcester, MA 01606