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Seneca Federal Savings and Loan Association

Based on 1 review
Overview / Commentary
315-638-0233
35 Oswego St
Baldwinsville, NY 13027

Seneca Federal Savings and Loan Association is headquartered in Baldwinsville and is the 140th largest bank in the state of New York. It is also the 4,126th largest bank in the nation. It was established in 1928 and as of March of 2014, it had grown to 38 employees at 3 locations. Seneca Federal Savings and Loan Association has a B health rating.

Reviews (1)

Doing Business With A Very Dependable Bank.

Seneca Federal Savings and Loan is a great bank to do business with on a personal level and a business level.  One of the best things you get when you bank with Seneca Federal is a bank that will listen and a willingness to understand your business needs. I have used Seneca Federal for over 20 years on both the personal side and the business side.  They have been there and listened to my needs as I started to expand my business the last 4 years. Seneca Federal has given me and my company great support over the last 20 years.  Their employees have always been very courteous and kind.

I would like to thank Chris DeMong and Bill Gould for all of their hard work over the years( they both retired within the past two years).  I would also like to thank the following for keeping things moving forward and keeping the same feeling and atomosphere: Trina Russo, Janice MacDonald,and Wendy Bodnar.  In addition thanks to all of their employees that put everything into the jobs.

Thank you

Todd M. Vann

Owner

WMF Photography

 



Health

Data for Q1 2014

Institution Health

B

Texas Ratio

GRADE:
B+

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 Seneca Federal Savings and Loan Association had $1.82 million in non-current loans and owned real-estate with $12.17 million in equity and loan loss allowances on hand to cover it. This gives Seneca Federal Savings and Loan Association a Texas Ratio of 14.97% which is above average. Any bank with a Texas Ratio near or greater than 100% is considered at risk.

Texas Ratio Trend

GRADE:
A

The Texas Ratio for Seneca Federal Savings and Loan Association decreased dramatically from 22.57% as of March 31, 2013 to 14.97% as of March 31, 2014, resulting in a positive change of 33.70%.This indicates that the balance sheet and financial strength for Seneca Federal Savings and Loan Association has improved dramatically in recent periods.

Deposit Growth

GRADE:
D

In the past year, Seneca Federal Savings and Loan Association has decreased its total deposits by -$10.12 million, resulting in -8.82% 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 Seneca Federal Savings and Loan Association has shown is below average.

Capitalization

GRADE:
B

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. Seneca Federal Savings and Loan Association has $127.5 million in assets with $12.17 million in equity, resulting in a capitalization level of 9.55%, which is above average.

Institution Statistics

Overall
FDIC Certificate #29496
Year Established1928
Employees38
Primary RegulatorOCC
Assets and Liabilities
Assets$127.50 million
Loans$79.46 million
Deposits$104.60 million
Equity Capital$10.92 million
Loan Loss Allowance$1.25 million
Unbacked Noncurrent Loans$1.82 million
Real Estate Owned$0
Historic Data - March 2013
Assets$142.36 million
Equity Capital$10.69 million
Loan Loss Allowance$1.25 million
Unbacked Noncurrent Loans$1.82 million
Real Estate Owned$0
Profit Margin - Quarterly
Net Interest Margin2.99%
Return on Assets0.31%
Return on Equity3.71%
Interest Income$1.16 million
Rates

Always verify rates and promotions with the bank or credit union. We are not Seneca Federal Savings and Loan Association, we are a rate comparison website and can not provide official rates or promotions.

Seneca Federal Savings and Loan Association Savings Account Rates

DetailsAPYMINMAXPRODUCT
0.05%$50-Passbook Savings
0.05%$50-Holiday Club

Seneca Federal Savings and Loan Association Money Market Rates

DetailsAPYMINMAXPRODUCT
0.10%$2,500-Money Market

Seneca Federal Savings and Loan Association Checking Account Rates

DetailsAPYMINMAXPRODUCT
0.05%$100-Now Checking

Seneca Federal Savings and Loan Association CD Rates

DetailsAPYMINMAXPRODUCT
1.15%$500-60 Month CD
1.10%$500-48 Month CD
0.75%$500-36 Month CD
0.50%$500-24 Month CD
0.40%$500-12 Month CD
0.35%$500-13 Month CD
0.35%$500-18 Month CD
0.25%$500-6 Month CD
Locations


Seneca Federal Savings and Loan Association Locations
105 Second Street Branch105 Second StreetLiverpool, NY 13088
201 N Main Street Branch201 N Main StreetNorth Syracuse, NY 13212
Seneca Federal Savings and Loan Association35 Oswego StBaldwinsville, NY 13027