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Overview / Commentary
207-377-2124
P.O. Box 55
Winthrop, ME 04364

Winthrop Area Credit Union is headquartered in WINTHROP and is the 36th largest credit union in the state of Maine. It is also the 2,085th largest credit union in the nation. It was established in 1937 and as of December of 2013, it had grown to 12 employees and 5,722 members. Winthrop Area Credit Union has a C+ health rating.

Field of Membership Restrictions

Membership is open to anyone who lives, works or worships in Winthrop, Wayne, Manchester, Readfield, Mt. Vernon or Fayette. To become a member of Winthrop Area FCU, you must open a savings account for $25.00. - See Details

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Health

Data for Q4 2013

Institution Health

C+
Additional Factors: Institutions with a small asset base or a short operating history can represent an instability risk beyond what their financial ratios indicate. Winthrop Area Credit Union has a relatively low asset base.

Texas Ratio

GRADE:
B

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 Winthrop Area Credit Union had $1.12 million in non-current loans and owned real-estate with $5.72 million in equity and loan loss allowances on hand to cover it. This gives Winthrop Area Credit Union a Texas Ratio of 19.63% which is above 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 Winthrop Area Credit Union experienced no significant changes from 17.87% as of December 31, 2012 to 19.63% as of December 31, 2013, resulting in a negative change of 9.82%. This indicates that the balance sheet and financial strength for Winthrop Area Credit Union has had no significant changes in recent periods.

Deposit Growth

GRADE:
C

In the past year, Winthrop Area Credit Union has decreased its total deposits by $-829,000, resulting in -1.54% 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 Winthrop Area Credit Union has shown is average.

Capitalization

GRADE:
B

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. Winthrop Area Credit Union has $58.97 million in assets with $5.72 million in equity, resulting in a capitalization level of 9.69%, which is above average.

Institution Statistics

Overall
NCUA #2301
Year Chartered1937
Employees12
Primary Regulator
Assets and Liabilities
Assets$58.97 million
Loans$34.57 million
Deposits$53.17 million
Equity Capital$5.62 million
Loan Loss Allowance$100,000
Unbacked Noncurrent Loans$735,000
Real Estate Owned$387,000
Historic Data - December 2012
Assets$59.68 million
Equity Capital$5.48 million
Loan Loss Allowance$50,000
Unbacked Noncurrent Loans$735,000
Real Estate Owned$364,000
Profit Margin - Quarterly
Net Interest Margin3.9%
Return on Assets0.23%
Return on Equity2.37%
Interest Income$1.86 million
Rates
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Winthrop Area Credit Union Savings Account Rates

DetailsAPYMINMAXPRODUCT
0.50%--IRA Club
0.10%--Regular Shares
0.10%--Holiday Club Savings
0.10%--Vacation Club Savings

Winthrop Area Credit Union Checking Account Rates

DetailsAPYMINMAXPRODUCT
0.45%$100k-High Yield Checking

Winthrop Area Credit Union CD Rates

DetailsAPYMINMAXPRODUCT
1.66%$500-5 Year Share Certificate
1.31%$500-4 Year Share Certificate
1.06%$500-3 Year Share Certificate
0.80%$500-2 Year Share Certificate
0.65%$500-18 Month Share Certificate
0.55%$500-15 Month Share Certificate
0.50%$500-1 Year Share Certificate
0.35%$500-6 Month Share Certificate

Winthrop Area Credit Union IRA Rates

DetailsAPYMINMAXPRODUCT
1.66%$500-5 Year IRA Certificate
1.31%$500-4 Year IRA Certificate
1.06%$500-3 Year IRA Certificate
0.80%$500-2 Year IRA Certificate
0.65%$500-18 Month IRA Certificate
0.55%$500-15 Month IRA Certificate
0.50%$500-1 Year IRA Certificate
0.35%$500-6 Month IRA Certificate
Locations


Winthrop Area Credit Union Locations
Branch Office94 HIGHLAND AVEWINTHROP, ME 04364