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Overview / Commentary
4727 West Seneca Turnpike
Syracuse, NY 13215

SECNY Credit Union is headquartered in Syracuse and is the 56th largest credit union in the state of New York. It is also the 1,122nd largest credit union in the nation. It was established in 1971 and as of December of 2013, it had grown to 43 employees and 15,257 members. SECNY Credit Union has a A 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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Data for Q4 2013

Institution Health


Texas Ratio


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 SECNY Credit Union had $288,000 in non-current loans and owned real-estate with $11.13 million in equity and loan loss allowances on hand to cover it. This gives SECNY Credit Union a Texas Ratio of 2.59% which is excellent. Any bank with a Texas Ratio near or greater than 100% is considered at risk.

Texas Ratio Trend


The Texas Ratio for SECNY Credit Union decreased dramatically from 5.65% as of December 31, 2012 to 2.59% as of December 31, 2013, resulting in a positive change of 54.20%.This indicates that the balance sheet and financial strength for SECNY Credit Union has improved dramatically in recent periods.

Deposit Growth


In the past year, SECNY Credit Union has increased its total deposits by $6.19 million, resulting in 4.72% 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 excellent.



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 $150.36 million in assets with $11.13 million in equity, resulting in a capitalization level of 7.40%, which is below average.

Institution Statistics

NCUA #20496
Year Chartered1971
Primary Regulator
Assets and Liabilities
Assets$150.36 million
Loans$95.52 million
Deposits$137.44 million
Equity Capital$10.91 million
Loan Loss Allowance$222,000
Unbacked Noncurrent Loans$288,000
Real Estate Owned$0
Historic Data - December 2012
Assets$143.18 million
Equity Capital$10.11 million
Loan Loss Allowance$265,000
Unbacked Noncurrent Loans$288,000
Real Estate Owned$0
Profit Margin - Quarterly
Net Interest Margin4.17%
Return on Assets0.53%
Return on Equity7.34%
Interest Income$4.44 million
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SECNY Credit Union Savings Account Rates

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

0.20%$75k-Cash Management

SECNY Credit Union CD Rates

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

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

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