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Overview / Commentary
860-513-5000
520 Cromwell Ave
Rocky Hill, CT 06067-1864

Nutmeg State Credit Union is headquartered in Rocky Hill and is the 6th largest credit union in the state of Connecticut. It is also the 600th largest credit union in the nation. It was established in 1935 and as of March of 2014, it had grown to 66 employees and 33,698 members. Nutmeg State Credit Union's CD rates are 11% higher than the national average, and it has a A health rating.

Field of Membership Restrictions

Must live, work, worship, volunteer or attend school in Hartford County, Middlesex County or Tolland County. - 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 Nutmeg State Credit Union had $2.15 million in non-current loans and owned real-estate with $48.25 million in equity and loan loss allowances on hand to cover it. This gives Nutmeg State Credit Union a Texas Ratio of 4.45% 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 Nutmeg State Credit Union experienced no significant changes from 2.77% as of March 31, 2013 to 4.45% as of March 31, 2014, resulting in a negative change of 60.72%. This indicates that the balance sheet and financial strength for Nutmeg State Credit Union has had no significant changes in recent periods.

Deposit Growth

GRADE:
B

In the past year, Nutmeg State Credit Union has increased its total deposits by $2.5 million, resulting in 0.8% 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 Nutmeg State Credit Union has shown is above 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. Nutmeg State Credit Union has $363.32 million in assets with $48.25 million in equity, resulting in a capitalization level of 13.28%, which is excellent.

Institution Statistics

Overall
NCUA #855
Year Chartered1935
Employees66
Primary Regulator
Assets and Liabilities
Assets$363.32 million
Loans$254.24 million
Deposits$315.92 million
Equity Capital$45.57 million
Loan Loss Allowance$2.68 million
Unbacked Noncurrent Loans$2.15 million
Real Estate Owned$0
Historic Data - March 2013
Assets$359.02 million
Equity Capital$44.25 million
Loan Loss Allowance$2.76 million
Unbacked Noncurrent Loans$2.15 million
Real Estate Owned$112,000
Profit Margin - Quarterly
Net Interest Margin1.11%
Return on Assets0.6%
Return on Equity4.81%
Interest Income$3.53 million
Rates
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Nutmeg State Credit Union Savings Account Rates

DetailsAPYMINMAXPRODUCT
0.35%$10k-HSA Checking
0.20%--Kidz Club
0.05%$100-Regular Share
0.05%$100-Club Account
0.05%$100-Variable IRA
0.05%$100-Variable Roth IRA
0.05%$100-Variable CESA
0.05%--HSA Share

Nutmeg State Credit Union Money Market Rates

DetailsAPYMINMAXPRODUCT
0.35%$75k-Money Market Account

Nutmeg State Credit Union CD Rates

DetailsAPYMINMAXPRODUCT
1.70%$100k-60 Month Jumbo CD
1.60%$1k-60 Month CD
1.40%$1k-48 Month CD
1.15%$1k-36 Month CD
1.00%$1k-12 Month CD
0.75%$1k-24 Month CD
0.50%$1k-6 Month CD
0.35%$1k-18 Month CD
0.25%$1k-9 Month CD
0.15%$1k-3 Month CD

Nutmeg State Credit Union IRA Rates

DetailsAPYMINMAXPRODUCT
1.70%$100k-60 Month Jumbo IRA
1.60%$1k-60 Month Fixed IRA
1.40%$1k-48 Month Fixed IRA
1.15%$1k-36 Month Fixed IRA
1.00%$1k-12 Month Fixed IRA
0.75%$1k-24 Month Fixed IRA
0.50%$1k-6 Month Fixed IRA
0.35%$1k-18 Month Fixed IRA
0.25%$1k-9 Month Fixed IRA
0.15%$1k-3 Month Fixed IRA
Locations


Nutmeg State Credit Union Locations
Branch Office1 American RowHartford, CT 06103-2801
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