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Overview / Commentary
70 W Stafford Rd
Stafford Spring, CT 06076

Workers Credit Union is headquartered in Stafford Springs and is the 49th largest credit union in the state of Connecticut. It is also the 3,380th largest credit union in the nation. It was established in 1936 and as of March of 2014, it had grown to 8 employees and 4,221 members. Workers Credit Union's savings rates are 92% higher than the national average, but it has a C- health rating.

Field of Membership Restrictions

Must live or work in Stafford, Willington, Union, Ashford, Ellington, Somers or Tolland. - See Details

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Data for Q1 2014

Institution Health

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

Texas Ratio


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 Workers Credit Union had $585,000 in non-current loans and owned real-estate with $1.65 million in equity and loan loss allowances on hand to cover it. This gives Workers Credit Union a Texas Ratio of 35.54% which is average. Any bank with a Texas Ratio near or greater than 100% is considered at risk.

Texas Ratio Trend


The Texas Ratio for Workers Credit Union decreased slightly from 45.98% as of March 31, 2013 to 35.54% as of March 31, 2014, resulting in a positive change of 22.70%.This indicates that the balance sheet and financial strength for Workers Credit Union has improved slightly in recent periods.

Deposit Growth


In the past year, Workers Credit Union has decreased its total deposits by -$2.4 million, resulting in -10.29% 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 poor.



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 $22.39 million in assets with $1.65 million in equity, resulting in a capitalization level of 7.35%, which is below average.

Institution Statistics

NCUA #1606
Year Chartered1936
Primary Regulator
Assets and Liabilities
Assets$22.39 million
Loans$14.84 million
Deposits$20.97 million
Equity Capital$1.39 million
Loan Loss Allowance$254,000
Unbacked Noncurrent Loans$585,000
Real Estate Owned$0
Historic Data - March 2013
Assets$24.84 million
Equity Capital$1.43 million
Loan Loss Allowance$332,000
Unbacked Noncurrent Loans$585,000
Real Estate Owned$196,000
Profit Margin - Quarterly
Net Interest Margin1.39%
Return on Assets0.04%
Return on Equity0.57%
Interest Income$243,000
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Workers Credit Union Savings Account Rates

1.00%--Health Savings Draft Accounts
0.10%$25-IRA Account
0.05%$25-Regular Share Savings
0.05%--Club Account

Workers Credit Union CD Rates

0.25%--12 Month Pick & Draw CD
0.20%--10 Month Pick & Draw CD
0.15%--6 Month Pick & Draw CD
0.10%--3 Month Pick & Draw CD

Workers Credit Union Locations
Branch Office70 W Stafford RdStafford Springs, CT 06076-1067
Branch Office62 Hartford TpkeTolland, CT 06084-2842