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Overview / Commentary
860-513-5000
521 Cromwell Ave, P.O. Box 66
Rocky Hill, CT 06067

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 601st largest credit union in the nation. It was established in 1935 and as of December of 2013, it had grown to 67 employees and 32,963 members. Nutmeg State Credit Union 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 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 Nutmeg State Credit Union had $2.61 million in non-current loans and owned real-estate with $47.53 million in equity and loan loss allowances on hand to cover it. This gives Nutmeg State Credit Union a Texas Ratio of 5.48% 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 3.03% as of December 31, 2012 to 5.48% as of December 31, 2013, resulting in a negative change of 81.07%. 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 $5.96 million, resulting in 1.98% 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 $353.55 million in assets with $47.53 million in equity, resulting in a capitalization level of 13.44%, which is excellent.

Institution Statistics

Overall
NCUA #855
Year Chartered1935
Employees67
Primary Regulator
Assets and Liabilities
Assets$353.55 million
Loans$248.93 million
Deposits$307.26 million
Equity Capital$44.56 million
Loan Loss Allowance$2.97 million
Unbacked Noncurrent Loans$2.61 million
Real Estate Owned$0
Historic Data - December 2012
Assets$347.18 million
Equity Capital$44.44 million
Loan Loss Allowance$2.77 million
Unbacked Noncurrent Loans$2.61 million
Real Estate Owned$112,000
Profit Margin - Quarterly
Net Interest Margin4.18%
Return on Assets0.74%
Return on Equity5.9%
Interest Income$13.22 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%$60k-Money Market Account

Nutmeg State Credit Union CD Rates

DetailsAPYMINMAXPRODUCT
1.30%$100k-60 Month Jumbo CD
1.25%$1k-60 Month CD
1.10%$1k-48 Month CD
0.90%$1k-36 Month CD
0.55%$1k-24 Month CD
0.35%$1k-18 Month CD
0.30%$1k-12 Month CD
0.25%$1k-9 Month CD
0.20%$1k-6 Month CD
0.15%$1k-3 Month CD

Nutmeg State Credit Union IRA Rates

DetailsAPYMINMAXPRODUCT
1.30%$100k-60 Month Jumbo IRA (Traditional,Roth,CESA)
1.25%$1k-60 Month Fixed IRA (Traditional,Roth,CESA)
1.10%$1k-48 Month Fixed IRA (Traditional,Roth,CESA)
0.90%$1k-36 Month Fixed IRA (Traditional,Roth,CESA)
0.55%$1k-24 Month Fixed IRA (Traditional,Roth,CESA)
0.35%$1k-18 Month Fixed IRA (Traditional,Roth,CESA)
0.30%$1k-12 Month Fixed IRA (Traditional,Roth,CESA)
0.25%$1k-9 Month Fixed IRA (Traditional,CESA,Roth)
0.20%$1k-6 Month Fixed IRA (Traditional,Roth,CESA)
0.15%$1k-3 Month Fixed IRA (Traditional,Roth,CESA)
Locations


Nutmeg State Credit Union Locations
Branch Office1 American RowHartford, CT 06103-2801
Branch Office521 Cromwell AveRocky Hill, CT 06067
Branch Office270 Broad STManchester, CT 06040
Branch Office995 W Main StNew Britain, CT 06053
Branch Office137 Prospect Hill RdEast Windsor, CT 06088
Branch Office2985 Berlin TpkeNewington, CT 06111
Branch Office520 Cromwell AveRocky Hill, CT 06067-1864
Branch OfficeWalmart 2305 325 Oakland StBristol, CT 06010
Branch OfficeWal-Mart 161 Berlin RdCromwell, CT 06416
Branch Office81 House StGlastonbury, CT 06033