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Overview / Commentary
716-674-3199
1937 Union Rd
West Seneca, NY 14224

Western New York Credit Union is headquartered in West Seneca and is the 128th largest credit union in the state of New York. It is also the 2,569th largest credit union in the nation. It was established in 1964 and as of March of 2014, it had grown to 11 employees and 7,617 members. Western New York Credit Union has a B+ health rating.

Field of Membership Restrictions

Must live, work, worship or attend school in the following Erie County municipalities: Buffalo, Lancaster, Depew, Lackawanna, Cheektowaga, Sloan, Orchard Park, Aurora, West Seneca or Elma. - 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. Western New York 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 Western New York Credit Union had $88,000 in non-current loans and owned real-estate with $3.72 million in equity and loan loss allowances on hand to cover it. This gives Western New York Credit Union a Texas Ratio of 2.37% which is excellent. Any bank with a Texas Ratio near or greater than 100% is considered at risk.

Texas Ratio Trend

GRADE:
A+

The Texas Ratio for Western New York Credit Union decreased dramatically from 4.16% as of March 31, 2013 to 2.37% as of March 31, 2014, resulting in a positive change of 43.16%.This indicates that the balance sheet and financial strength for Western New York Credit Union has improved dramatically in recent periods.

Deposit Growth

GRADE:
A+

In the past year, Western New York Credit Union has increased its total deposits by $2.06 million, resulting in 5.95% 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 Western New York 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. Western New York Credit Union has $40.74 million in assets with $3.72 million in equity, resulting in a capitalization level of 9.13%, which is average.

Institution Statistics

Overall
NCUA #16042
Year Chartered1964
Employees11
Primary Regulator
Assets and Liabilities
Assets$40.74 million
Loans$25.22 million
Deposits$36.72 million
Equity Capital$3.66 million
Loan Loss Allowance$57,000
Unbacked Noncurrent Loans$88,000
Real Estate Owned$0
Historic Data - March 2013
Assets$38.32 million
Equity Capital$3.39 million
Loan Loss Allowance$75,000
Unbacked Noncurrent Loans$88,000
Real Estate Owned$55,000
Profit Margin - Quarterly
Return on Assets0.31%
Return on Equity3.49%
Interest Income$361,000
Rates
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Western New York Credit Union Savings Account Rates

DetailsAPYMINMAXPRODUCT
0.10%--Regular Share (Savings) Account
0.10%--Smart Savers Kid's Account
0.10%$100-Holiday Club Account
0.10%$100-Vacation Club Account

Western New York Credit Union CD Rates

DetailsAPYMINMAXPRODUCT
0.75%$99k-36 Month Jumbo Term Share Deposit
0.70%$1k-36 Month Regular Term Share Deposit
0.55%$99k-24 Month Jumbo Term Share Deposit
0.50%$1k-24 Month Regular Term Share Deposit
0.45%$99k-18 Month Jumbo Term Share Deposit
0.40%$1k-18 Month Regular Term Share Deposit
0.40%$99k-12 Month Jumbo Term Share Deposit
0.35%$1k-12 Month Regular Term Share Deposit
0.30%$99k-6 Month Jumbo Term Share Deposit
0.25%$1k-6 Month Regular Term Share Deposit
Locations


Western New York Credit Union Locations
Branch Office1937 Union RdWest Seneca, NY 14224