Workers Credit Union

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

Workers Credit Union is headquartered in Stafford Spring and is the 48th largest credit union in the state of Connecticut. It is also the 3,158th largest credit union in the nation. It was established in 1936 and as of December of 2011, it had grown to 10 employees and 4,218 members. Workers Credit Union has a 2-star health rating.

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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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See Rates for: Savings | CD | IRA

Workers Credit Union Savings Account Rates

ApyMinMaxProduct
0.10%$25-Regular Share Savings
0.10%--Club Account

Workers Credit Union CD Rates

ApyMinMaxProduct
1.25%$500-60 Month CD
1.05%$500-48 Month CD
1.00%$500-36 Month CD
0.70%$500-30 Month CD
0.50%$500-24 Month CD
0.40%$500-18 Month CD
0.20%$1k-12 Month CD

Workers Credit Union IRA Rates

ApyMinMaxProduct
0.30%$25-IRA Account

Rates updated: 5/26/2012

Data for Q4 2011


Institution Statistics


WORKERS
NCUA #1606
BankRate ReportView
Year Chartered1936
Employees10
Primary Regulator

Assets and Liabilities

Assets$25.84 million
Loans$17.90 million
Deposits$24.10 million
Equity Capital$1.70 million
Loan Loss Allowance$365,000
Unbacked Noncurrent Loans$1.74 million

Historic Data - December 2010

Assets$26.52 million
Equity Capital$1.92 million
Loan Loss Allowance$86,000
Unbacked Noncurrent Loans$1.48 million

Profit Margin - Quarterly

Net Interest Margin6.94%
Return on Assets-0.83%
Return on Equity-12.56%
Interest Income$1.54 million
Non-Interest Income$227,000

Institution Health


Overall Score:
2 out of 5
2
Texas Ratio1
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 $1.74 million in non-current loans and owned real-estate with $2.07 million in equity and loan loss allowances on hand to cover it. This gives Workers Credit Union a Texas Ratio of 84.00% which is poor. 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 73.87% as of December 31, 2010 to 84.00% as of December 31, 2011, resulting in a negative change of 13.72%. This indicates that the balance sheet and financial strength for Workers Credit Union has held steady in recent periods.
Deposit Growth2
In the past year, Workers Credit Union has decreased its total deposits by $-455,000, resulting in -1.85% 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.
Capitalization3
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 $25.84 million in assets with $2.07 million in equity, resulting in a capitalization level of 8.01%, which is average.
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