St. Jean's Credit Union
St. Jean's Credit Union is headquartered in LYNN and is the 42nd largest credit union in the state of Massachusetts. It is also the 1,135th largest credit union in the nation. It was established in 1910 and as of December of 2013, it had grown to 33 employees and 15,288 members. St. Jean's Credit Union has a A+ health rating.
Field of Membership Restrictions
Must live or work in Essex, Middlesex or Suffolk County. Also open to employees of Commonwealth of Massachusetts or H.P. Hood LLC. - See Details
St Jeans Credit Union
This credit union is customer friendly I would recommend to anyone in their area to join. From the tellers all the way up to the CEO are professional but more importantly like a large family. I had been using another bank and had a problem with them loosing my Xmas club check. I had to repeat the situation to five different people and still no results. At the St Jeans CU if you have any issues it's one phone call.
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 St. Jean's Credit Union had $575,000 in non-current loans and owned real-estate with $14.97 million in equity and loan loss allowances on hand to cover it. This gives St. Jean's Credit Union a Texas Ratio of 3.84% 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 St. Jean's Credit Union decreased dramatically from 14.37% as of December 31, 2012 to 3.84% as of December 31, 2013, resulting in a positive change of 73.26%.This indicates that the balance sheet and financial strength for St. Jean's Credit Union has improved dramatically in recent periods.
Deposit Growth
In the past year, St. Jean's Credit Union has increased its total deposits by $7.74 million, resulting in 6.15% 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 St. Jean's Credit Union has shown is excellent.
Capitalization
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. St. Jean's Credit Union has $148.6 million in assets with $14.97 million in equity, resulting in a capitalization level of 10.07%, which is above average.
Institution Statistics
| Overall | |
|---|---|
| NCUA # | 67959 |
| Year Chartered | 1910 |
| Employees | 33 |
| Primary Regulator |
| Assets and Liabilities | |
|---|---|
| Assets | $148.60 million |
| Loans | $91.05 million |
| Deposits | $133.50 million |
| Equity Capital | $14.35 million |
| Loan Loss Allowance | $616,000 |
| Unbacked Noncurrent Loans | $451,000 |
| Real Estate Owned | $124,000 |
| Historic Data - December 2012 | |
|---|---|
| Assets | $140.65 million |
| Equity Capital | $14.29 million |
| Loan Loss Allowance | $954,000 |
| Unbacked Noncurrent Loans | $451,000 |
| Real Estate Owned | $0 |
| Profit Margin - Quarterly | |
|---|---|
| Net Interest Margin | 4.21% |
| Return on Assets | 0.2% |
| Return on Equity | 2.08% |
| Interest Income | $4.63 million |
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St. Jean's Credit Union Savings Account Rates
| Details | APY | MIN | MAX | PRODUCT |
|---|---|---|---|---|
| 0.10% | $25 | - | Regular Savings | |
| 0.10% | - | - | Club Accounts | |
| 0.05% | - | - | Mortgage Escrow |
St. Jean's Credit Union Money Market Rates
| Details | APY | MIN | MAX | PRODUCT |
|---|---|---|---|---|
| 0.45% | $100k | - | Super M.M. | |
| 0.45% | $100k | - | Busines M.M. | |
| 0.15% | $2,500 | - | Money Market | |
| 0.15% | - | - | M.M. IRA |
St. Jean's Credit Union Checking Account Rates
| Details | APY | MIN | MAX | PRODUCT |
|---|---|---|---|---|
| 0.05% | $400 | - | NOW Accounts |
St. Jean's Credit Union CD Rates
| Details | APY | MIN | MAX | PRODUCT |
|---|---|---|---|---|
| 1.05% | $75k | - | 3 Year CD | |
| 1.00% | $75k | - | 2 Year CD | |
| 0.95% | $75k | - | 18 Month CD | |
| 0.95% | $500 | - | 18 Month CD Special - New Money | |
| 0.90% | $75k | - | 1 Year CD | |
| 0.90% | $75k | - | 1 Year Simple Interest CD | |
| 0.90% | $500 | - | 12 Month CD Special - New Money | |
| 0.41% | $75k | - | 6 Month CD | |
| 0.41% | $75k | - | 9 Month CD | |
| 0.41% | $75k | - | 6 Month Simple Interest CD | |
| 0.35% | $75k | - | 3 Month CD |
St. Jean's Credit Union IRA Rates
| Details | APY | MIN | MAX | PRODUCT |
|---|---|---|---|---|
| 1.31% | $75k | - | 3 Year IRA | |
| 1.15% | $75k | - | 1.5 Year IRA | |
| 1.05% | $75k | - | 1 Year IRA |
| St. Jean's Credit Union Locations | ||
|---|---|---|
| Branch Office | 370 highland ave | salem, MA 01970 |
| Branch Office | 250 maple st | lynn, MA 01904 |
| Branch Office | 184 shirley ave | revere, MA 02151 |
| Branch Office | 45 storey ave | newburyport, MA 01950 |