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Overview / Commentary
1240 Sussex Turnpike
Randolph, NJ 07869

Tri-Co Credit Union is headquartered in RANDOLPH and is the 22nd largest credit union in the state of New Jersey. It is also the 1,200th largest credit union in the nation. It was established in 1936 and as of December of 2013, it had grown to 22 employees and 13,478 members. Tri-Co Credit Union has a D health rating.

Field of Membership Restrictions

Must be an employee of the Board of Education in Morris, Sussex or Warren County. Also open to employees or elected officials in the Counties of Morris, Sussex or Warren County. - See Details

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Health

Data for Q4 2013

Institution Health

D

Texas Ratio

GRADE:
D

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 Tri-Co Credit Union had $5.36 million in non-current loans and owned real-estate with $5.37 million in equity and loan loss allowances on hand to cover it. This gives Tri-Co Credit Union a Texas Ratio of 99.91% which is below average. Any bank with a Texas Ratio near or greater than 100% is considered at risk.

Texas Ratio Trend

GRADE:
C+

The Texas Ratio for Tri-Co Credit Union experienced no significant changes from 95.71% as of December 31, 2012 to 99.91% as of December 31, 2013, resulting in a negative change of 4.39%. This indicates that the balance sheet and financial strength for Tri-Co Credit Union has had no significant changes in recent periods.

Deposit Growth

GRADE:
D

In the past year, Tri-Co Credit Union has decreased its total deposits by -$10.99 million, resulting in -7.55% 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 Tri-Co Credit Union has shown is below average.

Capitalization

GRADE:
F

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. Tri-Co Credit Union has $137.49 million in assets with $5.37 million in equity, resulting in a capitalization level of 3.91%, which is poor.

Institution Statistics

Overall
NCUA #1151
Year Chartered1936
Employees22
Primary Regulator
Assets and Liabilities
Assets$137.49 million
Loans$98.28 million
Deposits$134.57 million
Equity Capital$2.89 million
Loan Loss Allowance$2.48 million
Unbacked Noncurrent Loans$3.68 million
Real Estate Owned$1.69 million
Historic Data - December 2012
Assets$152.18 million
Equity Capital$5.76 million
Loan Loss Allowance$2.54 million
Unbacked Noncurrent Loans$3.68 million
Real Estate Owned$869,000
Profit Margin - Quarterly
Net Interest Margin5.27%
Return on Assets-2.2%
Return on Equity-104.57%
Interest Income$5.88 million
Rates

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Tri-Co Credit Union Savings Account Rates

DetailsAPYMINMAXPRODUCT
0.01%--Regular Savings
0.01%--Share Club Vacation
0.01%--Summer Saver Savings
0.01%$1k-IRA Accumulator Account
0.01%$1k-Roth IRA Accumulator Account
0.01%$1k-CESA Accumulator Account

Tri-Co Credit Union Money Market Rates

DetailsAPYMINMAXPRODUCT
0.08%$25k-Welcome Home Money Market Account
0.05%$25k-Regular Money Market Account

Tri-Co Credit Union Checking Account Rates

DetailsAPYMINMAXPRODUCT
0.01%$1k-Owners’ Elite Checking Account

Tri-Co Credit Union CD Rates

DetailsAPYMINMAXPRODUCT
0.25%$1k-60 Month CD
0.15%$1k-36 Month CD
0.15%$1k-48 Month CD
0.10%$1k-24 Month CD
0.05%$1k-18 Month CD
0.05%$1k-30 Month CD
0.04%$1k-12 Month CD
0.03%$1k-6 Month CD
0.01%$1k-3 Month CD

Tri-Co Credit Union IRA Rates

DetailsAPYMINMAXPRODUCT
0.25%$1k-60 Month IRA (Traditional,Roth,CESA)
0.15%$1k-36 Month IRA (Traditional,Roth,CESA)
0.15%$1k-48 Month IRA (Traditional,Roth,CESA)
0.10%$1k-24 Month IRA (Traditional,Roth,CESA)
0.05%$1k-18 Month IRA (Traditional,Roth,CESA)
0.05%$1k-30 Month IRA (Traditional,Roth,CESA)
0.04%$1k-12 Month IRA (Traditional,Roth,CESA)
0.03%$1k-6 Month IRA (Traditional,Roth,CESA)
0.01%$1k-3 Month IRA (Traditional,Roth,CESA)
Locations


Tri-Co Credit Union Locations
Branch Office40 Wantage AveBranchville, NJ 07890
Branch Office68 US Highway 46Hackettstown, NJ 07840-4930
Branch Office140 Speedwell AveMorris Plains, NJ 07950-2316
Branch Office46 US Highway 206Augusta, NJ 07822-2019
Branch Office1240 Sussex TpkeRandolph, NJ 07869-2944
Branch Office269 State Route 31 SWashington, NJ 07882-4086