2 star ratingAverage User Rating:
2 star rating based on 1 review.

Rockland Federal Credit Union

Rockland Federal Credit Union Locations
241 Union St
Rockland, MA 02370
1-800-562-7328
www.rfcu.com

Rockland Federal Credit Union is headquartered in Rockland and is the 4th largest credit union in the state of Massachusetts. It is also the 164th largest credit union in the nation. It was established in 1985 and as of December of 2011, it had grown to 121 employees and 150,108 members. Rockland Federal Credit Union's savings rates are 2X the national average, and it boasts a 5-star health rating.

Rockland Federal Credit Union Routing Number: 211373348



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See Rates for: Checking | Savings | Money Market | CD | IRA

Rockland Federal Credit Union Checking Account Rates

ApyMinMaxProduct
0.65%$50k-Dividend Checking
0.65%$2,500-Small Business Plus Checking

Rockland Federal Credit Union Savings Account Rates

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1.15%-$100kHigh Yield Reward Savings
0.60%$25k-Advantage Savings
0.50%--Club Account
0.50%--Christmas Club Account

Rockland Federal Credit Union Money Market Rates

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0.60%$25k-Business Money Market
0.50%$25k-IRA Money Market
0.50%$25k-Money Market

Rockland Federal Credit Union CD Rates

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1.75%$500-5 Year CD
1.60%$500-4 Year CD
1.35%$500-3 Year CD
1.25%$500-15 Month CD
1.00%$500-2 Year CD
0.75%$500-18 Month CD
0.70%$500-1 Year CD
0.70%$500-14 Month CD
0.50%$500-9 Month Special Birthday Share CD
0.45%$500-6 Month CD
0.35%$500-91 Day CD

Rockland Federal Credit Union IRA Rates

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1.75%$500-5 Year IRA
1.75%$500-5 Year Roth IRA
1.75%$500-5 Year ESA Coverdell IRA
1.60%$500-4 Year IRA
1.60%$500-4 Year Roth IRA
1.60%$500-4 Year ESA Coverdell IRA
1.35%$500-3 Year IRA
1.35%$500-3 Year Roth IRA
1.35%$500-3 Year ESA Coverdell IRA
1.00%$500-2 Year IRA
1.00%$500-2 Year Roth IRA
1.00%$500-2 Year ESA Coverdell IRA
0.75%$500-18 Month IRA
0.75%$500-18 Month Roth IRA
0.75%$500-18 Month ESA Coverdell IRA
0.70%$500-1 Year IRA
0.70%$500-1 Year Roth IRA
0.70%$500-1 Year ESA Coverdell IRA
0.45%$500-6 Month IRA
0.45%$500-6 Month Roth IRA
0.45%$500-6 Month ESA Coverdell IRA
0.40%$500-91 Day Roth IRA
0.35%$500-91 Day IRA
0.35%$500-91 Day ESA Coverdell IRA

Rates updated: 5/27/2012 * Not all products updated

Data for Q4 2011


Institution Statistics


ROCKLAND
NCUA #24224
BankRate ReportView
Year Chartered1985
Employees121
Primary Regulator

Assets and Liabilities

Assets$1.08 billion
Loans$924.51 million
Deposits$917.62 million
Equity Capital$114.05 million
Loan Loss Allowance$13.07 million
Unbacked Noncurrent Loans$6.90 million

Historic Data - December 2010

Assets$1.05 billion
Equity Capital$102.00 million
Loan Loss Allowance$10.84 million
Unbacked Noncurrent Loans$5.03 million

Profit Margin - Quarterly

Net Interest Margin3.17%
Return on Assets1.07%
Return on Equity10.22%
Interest Income$40.74 million
Non-Interest Income$7.51 million

Institution Health


Overall Score:
5 out of 5
5
Texas Ratio5
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, 2011 Rockland Federal Credit Union had $6.9 million in non-current loans and owned real-estate with $127.11 million in equity and loan loss allowances on hand to cover it. This gives Rockland Federal Credit Union a Texas Ratio of 5.43% which is excellent. Any bank with a Texas Ratio near or greater than 100% is considered at risk.
Texas Ratio Trend3
The Texas Ratio for Rockland Federal Credit Union held steady from 4.46% as of December 31, 2010 to 5.43% as of December 31, 2011, resulting in a negative change of 21.73%. This indicates that the balance sheet and financial strength for Rockland Federal Credit Union has held steady in recent periods.
Deposit Growth4
In the past year, Rockland Federal Credit Union has increased its total deposits by $20.76 million, resulting in 2.31% 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 Rockland Federal Credit Union has shown is above average.
Capitalization4
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. Rockland Federal Credit Union has $1.08 billion in assets with $127.11 million in equity, resulting in a capitalization level of 11.72%, which is above average.
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Local Bank Review: Rockland FCU (Mass)
2 stars - 51hh - Sunday, June 20, 2010 - 8:43 PM

The (4.0%, $50K) RCA was pretty good to start.  The application process is relatiovely easy (online with follow up ID check).  Te account comes with 200 free duplicate checks.  Initially payroll deposit of any amount would meet the requirement, then they changed that at least $100 payroll deposit was needed.  They lower the rate first to 3.8%, then discontinued the RCA offer completely.  We decided to keep the account since they still give us the current 3.25% interest, even without meeting the RCA requirements.  They have high-yield reward saving account that earns 1.8% APY up to $15K (0.9% for balances higher than $15K), but direct payroll deposit of at least $100 is also required. 

Pros

Relatively large/stable CU

Excelent customer service

1.8% APY High-yiled savings

Nice (200) duplicate checks

Relatively low fee for all services (any CU should have such customer-freindly features)

Cons

RCA was discontinued (grand-fathered)

The 2.25% (up to $5K) Smart Saver Account (mentioned by Ken in thier thread) was also discontinued

Local

 



  

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