The Greater Norwalk Area Credit Union

The Greater Norwalk Area Credit Union is headquartered in Norwalk and is the 52^nd largest credit union in the state of Connecticut. It is also the 3,502^nd largest credit union in the nation. It was established in 1961 and as of December of 2011, it had grown to 5 employees and 3,586 members. The Greater Norwalk Area Credit Union has a 4-star health rating.

The Greater Norwalk Area Credit Union Checking Account Rates

The Greater Norwalk Area Credit Union Savings Account Rates

The Greater Norwalk Area Credit Union Money Market Rates

The Greater Norwalk Area Credit Union CD Rates

The Greater Norwalk Area Credit Union IRA Rates

Data for Q4 2011

Institution Statistics THE GREATER NORWALK AREA NCUA # 60168 BankRate Report View Year Chartered 1961 Employees 5 Primary Regulator Assets and Liabilities Assets $20.76 million Loans $8.55 million Deposits $19.90 million Equity Capital $1.16 million Loan Loss Allowance $224,000 Unbacked Noncurrent Loans $145,000 Historic Data - December 2010 Assets $21.62 million Equity Capital $1.62 million Loan Loss Allowance $169,000 Unbacked Noncurrent Loans $275,000 Profit Margin - Quarterly Net Interest Margin 6.6% Return on Assets -2.28% Return on Equity -40.71% Interest Income $762,000 Non-Interest Income $165,000

Institution Health Overall Score: 4 out of 5 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, 2011 The Greater Norwalk Area Credit Union had $145,000 in non-current loans and owned real-estate with $1.39 million in equity and loan loss allowances on hand to cover it. This gives The Greater Norwalk Area Credit Union a Texas Ratio of 10.46% which is above average. Any bank with a Texas Ratio near or greater than 100% is considered at risk. Texas Ratio Trend The Texas Ratio for The Greater Norwalk Area Credit Union decreased slightly from 15.35% as of December 31, 2010 to 10.46% as of December 31, 2011, resulting in a positive change of 31.83%.This indicates that the balance sheet and financial strength for The Greater Norwalk Area Credit Union has improved slightly in recent periods. Deposit Growth In the past year, The Greater Norwalk Area Credit Union has increased its total deposits by $157,000, resulting in 0.8% 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 The Greater Norwalk Area Credit Union has shown is average. 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. The Greater Norwalk Area Credit Union has $20.76 million in assets with $1.39 million in equity, resulting in a capitalization level of 6.68%, which is below average.

No reviews have been left for this bank yet. Be the first to review.