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Overview / Commentary
603-436-1847
100 Borthwick Ave
Portsmouth, NH 03801

Northeast Credit Union is headquartered in Portsmouth and is the 2nd largest credit union in the state of New Hampshire. It is also the 223rd largest credit union in the nation. It was established in 1936 and as of March of 2014, it had grown to 209 employees and 101,418 members. Northeast Credit Union's savings rates are 3X the national average, and it has a A health rating.

Field of Membership Restrictions

Membership is open to anyone living, working or doing business in one of 6 NH counties: Strafford, Rockingham, Hillsborough, Merrimack, Belknap, Carroll (and southern York in Maine) OR within 25 miles of one of NECU branches. You may also qualify via select employer groups and via immediate family. - See Details

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Health

Data for Q1 2014

Institution Health

A

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 Northeast Credit Union had $5.53 million in non-current loans and owned real-estate with $99.59 million in equity and loan loss allowances on hand to cover it. This gives Northeast Credit Union a Texas Ratio of 5.55% 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 Northeast Credit Union experienced no significant changes from 3.17% as of March 31, 2013 to 5.55% as of March 31, 2014, resulting in a negative change of 75.26%. This indicates that the balance sheet and financial strength for Northeast Credit Union has had no significant changes in recent periods.

Deposit Growth

GRADE:
A+

In the past year, Northeast Credit Union has increased its total deposits by $67.68 million, resulting in 8.91% 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 Northeast Credit Union has shown is excellent.

Capitalization

GRADE:
B+

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. Northeast Credit Union has $986.3 million in assets with $99.59 million in equity, resulting in a capitalization level of 10.10%, which is above average.

Institution Statistics

Overall
NCUA #68219
Year Chartered1936
Employees209
Primary Regulator
Assets and Liabilities
Assets$986.30 million
Loans$826.25 million
Deposits$827.50 million
Equity Capital$93.41 million
Loan Loss Allowance$6.19 million
Unbacked Noncurrent Loans$5.39 million
Real Estate Owned$139,000
Historic Data - March 2013
Assets$878.74 million
Equity Capital$90.78 million
Loan Loss Allowance$6.89 million
Unbacked Noncurrent Loans$5.39 million
Real Estate Owned$324,000
Profit Margin - Quarterly
Net Interest Margin0.76%
Return on Assets0.63%
Return on Equity6.7%
Interest Income$7.83 million
Rates

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

Northeast Credit Union Savings Account Rates

DetailsAPYMINMAXPRODUCT
1.52%-$500MyFunds
1.52%-$500Silver Lining Savings
1.52%-$500Student Savings
1.52%$100$500College Savings Account
0.15%--Regular Shares
0.15%--Holiday Club
0.15%--Special Purpose

Northeast Credit Union Money Market Rates

DetailsAPYMINMAXPRODUCT
0.66%$100k-Money Market Account
0.66%$100k-IRA Money Market

Northeast Credit Union Checking Account Rates

DetailsAPYMINMAXPRODUCT
0.66%-$25keChecking - Qualifying
0.15%$5k-Relationship Checking
0.15%--Student Checking Plus
0.15%$5k-Member Business Checking

Northeast Credit Union CD Rates

DetailsAPYMINMAXPRODUCT
1.82%$500-60 Month CD
1.56%$500-48 Month CD
1.31%$500-36 Month CD
0.80%$500-24 Month CD
0.55%$500-18 Month CD
0.40%$500-12 Month CD
0.25%$500-6 Month CD

Northeast Credit Union IRA Rates

DetailsAPYMINMAXPRODUCT
1.82%$500-60 Month IRA
1.56%$500-48 Month IRA
1.31%$500-36 Month IRA
0.80%$500-24 Month IRA
0.55%$500-18 Month IRA
0.40%$500-12 Month IRA
0.25%$500-6 Month IRA
Locations

Northeast Credit Union has 14 locations. Click to view all Northeast Credit Union locations.