Workers Credit Union

815 Main Street
Fitchburg , MA 01420
1-800-221-4020
www.wcu.com

Workers Credit Union is headquartered in Fitchburg and is the 8th largest credit union in the state of Massachusetts. It is also the 228th largest credit union in the nation. It was established in 1914 and as of December of 2011, it had grown to 168 employees and 68,357 members. Workers Credit Union has a 5-star health rating.

Workers Credit Union Routing Number: 211382931

Related Posts

Competitive 15-Month CD Special at Workers' Credit Union in MA & NH - Local Only - 11/22/2010

Workers Credit Union is offering a special 15-month CD and IRA CD with a 1.60% APY. There are also two other CD specials, but they're less competitive. Those include a 1.10% APY 8-month CD and a 1.75% ...

2.10% 12-Month CD & 2.50% 25-Month CD at Workers Credit Union in MA & NH - Local Only - 11/15/2009

Workers Credit Union continues to offer three competitive CD and IRA CD specials: a 1.60% APY 4-month CD, a 2.10% APY 12-month CD and a 2.50% APY 25-month CD. Minimum deposit is $500 ($1,000 for the IRA). These specials are listed in the credit union's...

2.10% 9-Month CD & 2.50% 25-Month CD at Workers Credit Union in MA & NH - Local Only - 8/16/2009

Workers Credit Union is offering three competitive CD and IRA CD specials: a 1.60% APY 4-month CD, a 2.10% APY 9-month CD and a 2.50% APY 25-month CD. Minimum deposit is $500 ($1,000 for the IRA). These specials are listed in the credit union's deposit...

3.00% Reward Checking Account at a MA/NH Credit Union (Workers) - 3/25/2008

Update 4/02/09: The top yield has fallen to 3.00% APY. Refer to the bottom of the post for the rate history.Workers Credit Union has a reward checking account called Xtreme Checking that pays 3.00% APY on balances up to $25,000 (1.01% for above) and...


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Data for Q4 2011


Institution Statistics


WORKERS'
NCUA #66479
BankRate ReportView
Year Chartered1914
Employees168
Primary Regulator

Assets and Liabilities

Assets$830.61 million
Loans$650.46 million
Deposits$616.32 million
Equity Capital$111.31 million
Loan Loss Allowance$5.50 million
Unbacked Noncurrent Loans$7.20 million
Real Estate Owned$40,000

Historic Data - December 2010

Assets$799.25 million
Equity Capital$101.28 million
Loan Loss Allowance$4.33 million
Unbacked Noncurrent Loans$4.03 million
Real Estate Owned$564,000

Profit Margin - Quarterly

Net Interest Margin3.93%
Return on Assets1.13%
Return on Equity8.44%
Interest Income$36.89 million
Non-Interest Income$10.10 million

Institution Health


Overall Score:
5 out of 5
5
Texas Ratio5
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 Workers Credit Union had $7.24 million in non-current loans and owned real-estate with $116.81 million in equity and loan loss allowances on hand to cover it. This gives Workers Credit Union a Texas Ratio of 6.20% which is excellent. Any bank with a Texas Ratio near or greater than 100% is considered at risk.
Texas Ratio Trend3
The Texas Ratio for Workers Credit Union held steady from 4.35% as of December 31, 2010 to 6.20% as of December 31, 2011, resulting in a negative change of 42.58%. This indicates that the balance sheet and financial strength for Workers Credit Union has held steady in recent periods.
Deposit Growth4
In the past year, Workers Credit Union has increased its total deposits by $12.37 million, resulting in 2.05% 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 Workers Credit Union has shown is above average.
Capitalization5
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. Workers Credit Union has $830.61 million in assets with $116.81 million in equity, resulting in a capitalization level of 14.06%, which is excellent.
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