Sea Comm Credit Union is headquartered in Massena and is the 26th largest credit union in the state of New York. It is also the 474th largest credit union in the nation. It was established in 1963 and as of December of 2013, it had grown to 90 employees and 40,586 members. Sea Comm Credit Union's money market rates are 55% higher than the national average, and it has a A health rating.
You are eligible to join SeaComm if you live, work, worship or attend school anywhere in St. Lawrence County or in the following municipalities of Franklin County: Bangor, Bellmont, Bombay, Brandon, Burke, Chateaugay, Constable, Dickinson, Duane, Fort Covington, Malone, Moira, St. Regis Reservation, Waverly and Westville. - See Details
Sea Comm is a great credit union to have your account at. They have very helpful and useful staff at the bank. You can also call up the call-in center and they have always been very helpful. You can get your coins counted by their automated machine and there is no fee if you are a member. They have given back their profits to their members as bonuses for having accounts with them. They are a little strict on who they give out loans to, but I personally have never had a problem with them. You can access your account online, pay your bills online, and apply for a loan online. Their website is great for members and you can always see how much money you have in the bank at any time. You can do online transfers from checking to savings and vice vera at any time of the day. They usually clear EFT faster than typical.
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 Sea Comm Credit Union had $2.35 million in non-current loans and owned real-estate with $53.06 million in equity and loan loss allowances on hand to cover it. This gives Sea Comm Credit Union a Texas Ratio of 4.44% which is excellent. Any bank with a Texas Ratio near or greater than 100% is considered at risk.
The Texas Ratio for Sea Comm Credit Union experienced no significant changes from 4.77% as of December 31, 2012 to 4.44% as of December 31, 2013, resulting in a positive change of 7.07%.This indicates that the balance sheet and financial strength for Sea Comm Credit Union has had no significant changes in recent periods.
In the past year, Sea Comm Credit Union has increased its total deposits by $4.08 million, resulting in 1.01% 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 Sea Comm Credit Union has shown is above average.
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. Sea Comm Credit Union has $460.4 million in assets with $53.06 million in equity, resulting in a capitalization level of 11.52%, which is excellent.
|Assets and Liabilities|
|Equity Capital||$51.60 million|
|Loan Loss Allowance||$1.46 million|
|Unbacked Noncurrent Loans||$2.35 million|
|Real Estate Owned||$0|
|Historic Data - December 2012|
|Equity Capital||$56.59 million|
|Loan Loss Allowance||$1.33 million|
|Unbacked Noncurrent Loans||$2.35 million|
|Real Estate Owned||$104,000|
|Profit Margin - Quarterly|
|Net Interest Margin||5.45%|
|Return on Assets||1.16%|
|Return on Equity||10.34%|
|Interest Income||$18.73 million|
Always verify rates and promotions with the bank or credit union. We are not Sea Comm Credit Union, we are a rate comparison website and can not provide official rates or promotions.
|0.38%||$100||-||Primary Share Account|
|0.38%||-||-||Traditional IRA Share Account|
|0.38%||-||-||Roth IRA Share Account|
|0.68%||$50k||-||The Weekly Money Market|
|0.42%||$2,500||-||Daily Money Account|
|1.88%||$1k||-||5 Year CD|
|1.70%||$1k||-||4 Year CD|
|1.52%||$1k||-||3 Year CD|
|1.34%||$1k||-||30 Month CD|
|1.08%||$1k||-||2 Year CD|
|1.08%||$500||-||24 Month Young Savers CD|
|0.90%||$1k||-||18 Month CD|
|0.90%||$500||-||18 Month Young Savers CD|
|0.84%||$1k||-||1 Year CD|
|0.84%||$500||-||12 Month Young Savers CD|
|0.77%||$2,500||-||6 Month CD|
|0.77%||$500||-||6 Month Young Savers CD|
|0.38%||$2,500||-||90 Day CD|
|1.88%||$1k||-||5 Year IRA (Traditional,Roth,CESA)|
|1.70%||$1k||-||4 Year IRA (Traditional,Roth,CESA)|
|1.52%||$1k||-||3 Year IRA (Traditional,Roth,CESA)|
|1.34%||$1k||-||30 Month IRA (Traditional,Roth,CESA)|
|1.08%||$1k||-||2 Year IRA (Traditional,Roth,CESA)|
|0.90%||$1k||-||18 Month IRA (Traditional,Roth,CESA)|
|0.84%||$1k||-||1 Year IRA (Traditional,Roth,CESA)|
|Sea Comm Credit Union Locations|
|Branch Office||79 Main St||Massena, NY 13662-1913|
|Branch Office||6 Sisson St||Potsdam, NY 13676-3596|
|Branch Office||45 Finney Blvd||Malone, NY 12953-1002|
|Branch Office||101 E Main St||Canton, NY 13617-1445|
|Branch Office||30 Stearns St||Massena, NY 13662-2310|