Overview / Commentary
Alco Federal Credit Union is headquartered in Wellsville and is the 148th largest credit union in the state of New York. It is also the 2,837th largest credit union in the nation. It was established in 1953 and as of December of 2018, it had grown to 21 employees and 5,435 members at 4 locations. Alco Federal Credit Union has a B+ health rating.
Field of Membership Restrictions
Membership is open to those who live, worship, attend school or work in, and businesses and legal entities located in Allegany County, New York.
See current membership details
Health
B+
Data as of Q4 2018
Learn why bank health mattersAdditional Factors: Institutions with a small asset base, a short operating history, or negative return on assets can represent an instability risk beyond what their financial ratios indicate. Alco Federal Credit Union has a low asset base.
Health Grade Components
| Overall | |
|---|---|
| NCUA # | 8975 |
| Year Chartered | 1953 |
| Employees | 21 |
| Primary Regulator | |
| Profit Margin | |
|---|---|
| Return on Assets - YTD | 0.79% |
| Return on Equity - YTD | 5.62% |
| Annual Interest Income | $1.3MM |
| Assets and Liabilities | ||
|---|---|---|
| Assets | Q4 2018vs Q4 2017 | $31.1MM$29.2MM |
| Loans | Q4 2018vs Q4 2017 | $19.0MM$18.4MM |
| Deposits | Q4 2018vs Q4 2017 | $26.6MM$25.0MM |
| Equity Capital | Q4 2018vs Q4 2017 | $4.4MM$4.2MM |
| Loan Loss Allowance | Q4 2018vs Q4 2017 | $121.00K$118.00K |
| Unbacked Noncurrent Loans | Q4 2018vs Q4 2017 | $58.00K$244.00K |
| Real Estate Owned | Q4 2018vs Q4 2017 | $0$0 |
Rates
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Alco Federal Credit Union Savings Account Rates
| APY | MIN | MAX | ACCOUNT NAME | VIEW DETAILS |
|---|---|---|---|---|
| 0.50% | $500 | - | IRA Shares | |
| 0.20% | $100 | - | Shares | |
| 0.20% | $100 | - | Christmas Club | |
| 0.20% | $100 | - | Vacation Club |
Alco Federal Credit Union Money Market Rates
| APY | MIN | MAX | ACCOUNT NAME | VIEW DETAILS |
|---|---|---|---|---|
| 0.30% | $2.5k | - | Money Market |
Alco Federal Credit Union CD Rates
| APY | MIN | MAX | ACCOUNT NAME | VIEW DETAILS |
|---|---|---|---|---|
| 0.75% | $500 | - | 12 Month Share Certificate | |
| 0.50% | $500 | - | 6 Month Share Certificate |
Alco Federal Credit Union IRA Rates
| APY | MIN | MAX | ACCOUNT NAME | VIEW DETAILS |
|---|---|---|---|---|
| 1.50% | $500 | - | 36 Month IRA | |
| 0.65% | $500 | - | 12 Month IRA |
Locations
| Alco Federal Credit Union Locations | ||
|---|---|---|
| Branch Office | 2859 Lindy Ln | Wellsville, NY 14895-9337 |
| Branch Office | 9 W Main St | Cuba, NY 14727-1403 |
| Branch Office | 25 W Main St | Friendship, NY 14739 |
| Branch Office | 32 Greenwich St | Belmont, NY 14813 |