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

Self Reliance New York Federal Credit Union

Self Reliance New York Federal Credit Union Locations
108 Second Avenue
New York, NY 10003-8302
212-473-7310
www.selfrelianceny.org

NCUA


Self Reliance New York Federal Credit Union is headquartered in New York and is the 16st largest credit union in the state of New York. It is also the 217st largest credit union in the nation. It was established in 1951 and as of December of 2012, it had grown to 37 employees and 14,440 members. Self Reliance New York Federal Credit Union's savings rates are 6X the national average, and it boasts a 5-star health rating.

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See Rates for: Savings | CD

Self Reliance New York Federal Credit Union Savings Account Rates

ApyMinMaxProduct
3.30%--IRA Savings
1.11%--Regular Shares

Self Reliance New York Federal Credit Union CD Rates

ApyMinMaxProduct
3.05%$500-60 Month Certificate

Rates updated: 5/23/2013

Data for Q4 2012


Institution Statistics


SELF RELIANCE NY
NCUA #7217
BankRate ReportView
Year Chartered1951
Employees37
Primary Regulator

Assets and Liabilities

Assets$918.26 million
Loans$609.31 million
Deposits$749.95 million
Equity Capital$166.79 million
Loan Loss Allowance$6.32 million
Unbacked Noncurrent Loans$11.14 million
Real Estate Owned$195,000

Historic Data - December 2011

Assets$836.11 million
Equity Capital$157.13 million
Loan Loss Allowance$5.72 million
Unbacked Noncurrent Loans$11.06 million
Real Estate Owned$300,000

Profit Margin - Quarterly

Net Interest Margin3.12%
Return on Assets1.14%
Return on Equity6.29%
Interest Income$33.53 million
Non-Interest Income$475,000

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, 2012 Self Reliance New York Federal Credit Union had $11.34 million in non-current loans and owned real-estate with $173.11 million in equity and loan loss allowances on hand to cover it. This gives Self Reliance New York Federal Credit Union a Texas Ratio of 6.55% 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 Self Reliance New York Federal Credit Union held steady from 6.97% as of December 31, 2011 to 6.55% as of December 31, 2012, resulting in a positive change of 6.09%.This indicates that the balance sheet and financial strength for Self Reliance New York Federal Credit Union has held steady in recent periods.
Deposit Growth5
In the past year, Self Reliance New York Federal Credit Union has increased its total deposits by $72.56 million, resulting in 10.71% 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 Self Reliance New York Federal Credit Union has shown is excellent.
Capitalization5
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. Self Reliance New York Federal Credit Union has $918.26 million in assets with $173.11 million in equity, resulting in a capitalization level of 18.85%, which is excellent.
Write Review

SELF RELIANCE NEW YORK FEDERAL CREDIT UNION
1 stars - Rosedala - Wednesday, July 28, 2010 - 2:42 PM

Hello, I thought the following experience I had with this FCU would be of interest to all...

I found this FCU (212-473-7310) had the best CD rates thanks to Ken's valuable website so I contacted them to open an account but... was shocked to hear a lady, at its affiliated Self Reliance Association of American Ukrainians (212-777-1336) which grants eligibility okays, that they accept ONLY Russian, Ukrainian or Polish people.  I told them my parents were Ukrainians, she said ok she needs to see their birth certificates.

My parents have been dead for decades and only my sister may still have their documents, but, she has advanced Alzheimer's and lives in Argentina!  This seems to be an outrageous and needless complication to just open an account!         I further asked - do you acccept Ukrainian Jewish people?  She said NO.  I repeated my question before ending the conversation which she evaded and just repeated that I have to show proof of nationality.  I asked to email me this requirement along with any other requirements but she said she doesn't do that...So I can't show what she told me.       I'm totally stunned that in this day and age of fierce political correctness enforcement... and in AMERICA!...that an organization like NCUA should impose or at least approve such unequal rule!  I've emailed my thoughts to them and hope they'll answer.       Rosedala   

20

Discrimination In Banking
1 stars - pauleb - Thursday, September 2, 2010 - 11:15 AM

They cannot discriminate as such since they are insured by the National Credit Union Administration.  Please report them to:

Inspector General: 800-778-4806 oigmail@ncua.gov[/H3]  


10