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315-469-5599
4727 W Seneca Tpke
Syracuse, NY 13215-2119

SECNY Credit Union is headquartered in Syracuse and is the 55th largest credit union in the state of New York. It is also the 1,114st largest credit union in the nation. It was established in 1971 and as of March of 2014, it had grown to 44 employees and 15,326 members. SECNY Credit Union has a B+ health rating.

Field of Membership Restrictions

Must live, work, worship or attend school in Onondaga, Cayuga, Madison or Oswego County. - See Details

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Health

Data for Q1 2014

Institution Health

B+

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 SECNY Credit Union had $177,000 in non-current loans and owned real-estate with $11.37 million in equity and loan loss allowances on hand to cover it. This gives SECNY Credit Union a Texas Ratio of 1.56% which is excellent. Any bank with a Texas Ratio near or greater than 100% is considered at risk.

Texas Ratio Trend

GRADE:
A+

The Texas Ratio for SECNY Credit Union decreased dramatically from 4.05% as of March 31, 2013 to 1.56% as of March 31, 2014, resulting in a positive change of 61.54%.This indicates that the balance sheet and financial strength for SECNY Credit Union has improved dramatically in recent periods.

Deposit Growth

GRADE:
B+

In the past year, SECNY Credit Union has increased its total deposits by $2.6 million, resulting in 1.85% 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 SECNY Credit Union has shown is above average.

Capitalization

GRADE:
C-

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. SECNY Credit Union has $155.78 million in assets with $11.37 million in equity, resulting in a capitalization level of 7.30%, which is below average.

Institution Statistics

Overall
NCUA #20496
Year Chartered1971
Employees44
Primary Regulator
Assets and Liabilities
Assets$155.78 million
Loans$94.64 million
Deposits$142.81 million
Equity Capital$11.14 million
Loan Loss Allowance$230,000
Unbacked Noncurrent Loans$177,000
Real Estate Owned$0
Historic Data - March 2013
Assets$152.71 million
Equity Capital$10.28 million
Loan Loss Allowance$244,000
Unbacked Noncurrent Loans$177,000
Real Estate Owned$0
Profit Margin - Quarterly
Return on Assets0.6%
Return on Equity8.4%
Interest Income$1.06 million
Rates
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SECNY Credit Union Savings Account Rates

DetailsAPYMINMAXPRODUCT
0.05%$10k-IRA
0.05%$10k-Roth IRA
0.05%$10k-Coverdell ESA
0.05%$2,500-HSA Checking
0.03%$100-Regular Share
0.03%--Holiday Club
0.03%--Vacation Club
0.03%$100-HSA Savings

SECNY Credit Union Money Market Rates

DetailsAPYMINMAXPRODUCT
0.20%$75k-Cash Management

SECNY Credit Union CD Rates

DetailsAPYMINMAXPRODUCT
1.10%$50k-60 Month Jumbo CD
1.00%$1k-60 Month CD
0.90%$50k-48 Month Jumbo CD
0.80%$50k-36 Month Jumbo CD
0.80%$1k-48 Month CD
0.70%$1k-36 Month CD
0.65%$50k-30 Month Jumbo CD
0.55%$50k-24 Month Jumbo CD
0.55%$1k-30 Month CD
0.45%$2,500-24 Month CD
0.30%$50k-12 Month Jumbo CD
0.20%$50k-6 Month Jumbo CD
0.20%$1k-12 Month CD
0.10%$1k-6 Month CD
0.05%$2,500-30 Day CD
0.05%$2,500-3 Month CD

SECNY Credit Union IRA Rates

DetailsAPYMINMAXPRODUCT
1.10%$500-60 Month IRA
0.90%$500-48 Month IRA
0.80%$500-36 Month IRA
0.65%$500-30 Month IRA
0.55%$500-24 Month IRA
0.30%$500-12 Month IRA
0.20%$500-6 Month IRA
Locations


SECNY Credit Union Locations
Branch Office2235 Downer Street RdBaldwinsville, NY 13027-2359
Branch Office32 Fennell StSkaneateles, NY 13152
Branch Office115 Fayette StManlius, NY 13104
Branch Office3819 Brewerton RdNorth Syracuse, NY 13212
Branch Office2601 Network Blvd Ste 600Frisco, TX 75034
Branch Office9090 Destiny USA Dr.Syracuse, NY 13204
Branch Office4727 W Seneca TpkeSyracuse, NY 13215-2119