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700 Patroon Creek Blvd
Albany, NY 12206

State Employees Credit Union is headquartered in Albany and is the 7th largest credit union in the state of New York. It is also the 47th largest credit union in the nation. It was established in 1934 and as of March of 2014, it had grown to 756 employees and 303,696 members. State Employees Credit Union has a B+ health rating.

Field of Membership Restrictions

Must live, work, attend school or worship in Montgomery County, Otsego County or several other cities and towns. Also open to employees of several select member groups. - See Details

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Data for Q1 2014

Institution Health


Texas Ratio


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 State Employees Credit Union had $19.85 million in non-current loans and owned real-estate with $213.1 million in equity and loan loss allowances on hand to cover it. This gives State Employees Credit Union a Texas Ratio of 9.31% 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 State Employees Credit Union experienced no significant changes from 9.45% as of March 31, 2013 to 9.31% as of March 31, 2014, resulting in a positive change of 1.45%.This indicates that the balance sheet and financial strength for State Employees Credit Union has had no significant changes in recent periods.

Deposit Growth


In the past year, State Employees Credit Union has increased its total deposits by $120.43 million, resulting in 4.96% 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 State Employees 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. State Employees Credit Union has $2.78 billion in assets with $213.1 million in equity, resulting in a capitalization level of 7.67%, which is below average.

Institution Statistics

NCUA #51
Year Chartered1934
Primary Regulator
Assets and Liabilities
Assets$2.78 billion
Loans$1.49 billion
Deposits$2.55 billion
Equity Capital$195.48 million
Loan Loss Allowance$17.62 million
Unbacked Noncurrent Loans$13.60 million
Real Estate Owned$6.25 million
Historic Data - March 2013
Assets$2.65 billion
Equity Capital$180.62 million
Loan Loss Allowance$17.94 million
Unbacked Noncurrent Loans$13.60 million
Real Estate Owned$4.12 million
Profit Margin - Quarterly
Return on Assets0.46%
Return on Equity6.5%
Interest Income$20.84 million
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State Employees Credit Union Savings Account Rates

0.45%--Preferred Plus Savings
0.40%$50k-Preferred Savings
0.40%$50k-IRA Share
0.40%$50k-Roth IRA Shares
0.10%--Education IRA Share Savings
0.10%--Holiday Savings Club
0.10%$25-Mint Share
0.10%$25-Boomer Club
0.10%$25-Smart Sense
0.10%--Owner's Choice

State Employees Credit Union Checking Account Rates

0.00%$250-HSA Checking

State Employees Credit Union CD Rates

1.00%--60 Month CD
0.95%--48 Month CD
0.70%--36 Month CD
0.70%--36 Month - Add-On
0.50%--24 Month CD
0.50%--24 Month Add-On
0.50%$500-24 Month HSA
0.45%--30 Month CD
0.40%--18 Month CD
0.40%--Risk-Free Share CD
0.40%--18 Month Add-On CD
0.40%$500-18 Month HSA
0.20%--12 Month CD
0.20%--15 Month CD
0.20%$500-12 Month HSA
0.15%--3 Month CD
0.15%--6 Month CD
0.15%--9 Month CD
0.15%--10 Month CD
0.15%$500-6 Month HSA

State Employees Credit Union IRA Rates

1.00%--60 Month IRA
1.00%--60 Month CESA
0.95%--48 Month IRA
0.95%--48 Month CESA
0.70%--36 Month IRA
0.70%--36 Month CESA
0.50%--24 Month IRA
0.50%--24 Month CESA
0.50%--24 Month Add-On IRA
0.50%--24 Month Add-On CESA
0.40%--18 Month IRA
0.40%--18 Month CESA
0.20%--12 Month IRA
0.20%--12 Month CESA
0.20%--15 Month IRA
0.15%--6 Month IRA
0.15%--6 Month CESA
0.15%--10 Month IRA

State Employees Credit Union has 47 locations. Click to view all State Employees Credit Union locations.