Workers Credit Union

Workers Credit Union Locations

70 West Stafford Road
Stafford Spring, CT 06076
860-684-4484
www.workersfcu.com

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Workers Credit Union is headquartered in Stafford Spring and is the 47^th largest credit union in the state of Connecticut. It is also the 3,250^th largest credit union in the nation. It was established in 1936 and as of December of 2012, it had grown to 9 employees and 4,313 members. Workers Credit Union's savings rates are 92% higher than the national average, but it has a 2-star health rating.

Related Posts

Top 18-Month & 6-Year CD Rates at Workers Credit Union - MA & NH Only - 10/9/2012

Workers Credit Union is offering two competitive rates on its CDs and IRA CDs. The short-term CD deal is an 18-month CD with a 1.50% APY. The long-term CD deal is a 6-year CD with a 2.50% APY. Minimum ...

Special CD Rates at Workers Credit Union - MA & NH Only - 5/30/2012

Workers Credit Union is offering several competitive rates on its CD and IRA CD specials. The highest rate is a 2.50% APY for a 6-year term. Minimum deposit is $500 for CDs and $1,000 for IRA CDs. The ...

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...

2009

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

2008

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

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See Rates for: Savings | CD | IRA

Workers Credit Union Savings Account Rates

	Apy	Min	Max	Product
	1.00%	-	-	Health Savings Draft Accounts
	0.05%	$25	-	Regular Share Savings
	0.05%	-	-	Club Account

Workers Credit Union CD Rates

	Apy	Min	Max	Product
	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 IRA Rates

	Apy	Min	Max	Product
	0.10%	$25	-	IRA Account

Rates updated: 5/23/2013

Data for Q4 2012

Institution Statistics

WORKERS
NCUA #	1606
BankRate Report	View
Year Chartered	1936
Employees	9
Primary Regulator
Assets and Liabilities
Assets	$24.59 million
Loans	$16.64 million
Deposits	$23.12 million
Equity Capital	$1.44 million
Loan Loss Allowance	$322,000
Unbacked Noncurrent Loans	$1.03 million
Historic Data - December 2011
Assets	$25.84 million
Equity Capital	$1.70 million
Loan Loss Allowance	$365,000
Unbacked Noncurrent Loans	$1.74 million
Profit Margin - Quarterly
Net Interest Margin	6.37%
Return on Assets	-0.98%
Return on Equity	-16.62%
Interest Income	$1.28 million
Non-Interest Income	$254,000

Institution Health

Overall Score:

2 out of 5

Texas Ratio
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, 2012 Workers Credit Union had $1.03 million in non-current loans and owned real-estate with $1.77 million in equity and loan loss allowances on hand to cover it. This gives Workers Credit Union a Texas Ratio of 58.21% which is below 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 84.00% as of December 31, 2011 to 58.21% as of December 31, 2012, resulting in a positive change of 30.70%.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 $-984,000, resulting in -4.08% 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 below average.
Capitalization
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 $24.59 million in assets with $1.77 million in equity, resulting in a capitalization level of 7.18%, which is below average.

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