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Stoneham Municipal Employees Credit Union

Overview / Commentary
781-438-3959
40 Pine St
Stoneham, MA 02180-2048

Stoneham Municipal Employees Credit Union is headquartered in Stoneham and is the 84th largest credit union in the state of Massachusetts. It is also the 2,909th largest credit union in the nation. It was established in 1963 and as of March of 2014, it had grown to 6 employees and 3,166 members. Stoneham Municipal Employees Credit Union's savings rates are 63% higher than the national average, and it has a B+ health rating.

Field of Membership Restrictions

Must be a municipal employee of the Town of Stoneham, Wimington, North Reading or Middleton. Also open to members of the "Friends of the Stoneham Public Library", students of the Stoneham Public School System and employees of local businesses approved by the Board of Directors. - See Details

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Health

Data for Q1 2014

Institution Health

B+
Additional Factors: Institutions with a small asset base or a short operating history can represent an instability risk beyond what their financial ratios indicate. Stoneham Municipal Employees Credit Union has a low asset base.

Texas Ratio

GRADE:
A+

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 Stoneham Municipal Employees Credit Union had $33,000 in non-current loans and owned real-estate with $2.94 million in equity and loan loss allowances on hand to cover it. This gives Stoneham Municipal Employees Credit Union a Texas Ratio of 1.12% which is excellent. Any bank with a Texas Ratio near or greater than 100% is considered at risk.

Texas Ratio Trend

GRADE:
C+

The Texas Ratio for Stoneham Municipal Employees Credit Union experienced no significant changes from 0.21% as of March 31, 2013 to 1.12% as of March 31, 2014, resulting in a negative change of 435.77%. This indicates that the balance sheet and financial strength for Stoneham Municipal Employees Credit Union has had no significant changes in recent periods.

Deposit Growth

GRADE:
A+

In the past year, Stoneham Municipal Employees Credit Union has increased its total deposits by $1.45 million, resulting in 5.36% 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 Stoneham Municipal Employees Credit Union has shown is excellent.

Capitalization

GRADE:
C+

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. Stoneham Municipal Employees Credit Union has $31.46 million in assets with $2.94 million in equity, resulting in a capitalization level of 9.34%, which is average.

Institution Statistics

Overall
NCUA #15393
Year Chartered1963
Employees6
Primary Regulator
Assets and Liabilities
Assets$31.46 million
Loans$11.63 million
Deposits$28.55 million
Equity Capital$2.87 million
Loan Loss Allowance$66,000
Unbacked Noncurrent Loans$33,000
Real Estate Owned$0
Historic Data - March 2013
Assets$29.93 million
Equity Capital$2.79 million
Loan Loss Allowance$71,000
Unbacked Noncurrent Loans$33,000
Real Estate Owned$0
Profit Margin - Quarterly
Net Interest Margin1.17%
Return on Assets0.19%
Return on Equity2.09%
Interest Income$179,000
Rates
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Stoneham Municipal Employees Credit Union Savings Account Rates

DetailsAPYMINMAXPRODUCT
0.85%$250-Youth Savings
0.50%--Traditional IRA
0.50%--Roth IRA
0.10%--Regular Shares
0.10%--Organizational Shares
0.10%--Club Accounts
0.10%--All Purpose Shares

Stoneham Municipal Employees Credit Union Checking Account Rates

DetailsAPYMINMAXPRODUCT
0.10%--Share Drafts

Stoneham Municipal Employees Credit Union CD Rates

DetailsAPYMINMAXPRODUCT
0.85%$1k-36 Month CD
0.65%$1k-24 Month CD
0.56%$2,500-18 Month Bump-Up CD
0.40%$1k-12 Month CD
0.30%$1k-6 Month CD

Stoneham Municipal Employees Credit Union IRA Rates

DetailsAPYMINMAXPRODUCT
1.20%$10k-60 Month IRA
0.85%$10k-36 Month IRA
Locations


Stoneham Municipal Employees Credit Union Locations
Branch Office40 Pine StStoneham, MA 02180-2048
Branch Office200 Jefferson RDWilmington, MA 01887-1963