Alco Federal Credit Union

Overview / Commentary
2859 Lindy Ln
Wellsville, NY 14895

Alco Federal Credit Union is headquartered in Wellsville and is the 132nd largest credit union in the state of New York. It is also the 2,570th largest credit union in the nation. It was established in 1953 and as of June of 2022, it had grown to 22 employees and 6,042 members at 4 locations. Alco Federal Credit Union has a B+ health rating.

Field of Membership Restrictions

Alco Federal Credit Union is open to businesses and other legal entities, and anyone who lives, works, worships, or goes to school in Allegany County. Immediate family are also eligible.
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Additional 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

NCUA #8975
Year Chartered1953
Primary Regulator
Profit Margin
Return on Assets - YTD1.12%
Return on Equity - YTD8.74%
Annual Interest Income$783.00K
Assets and Liabilities
AssetsQ2 2022vs Q2 2021$47.4MM$43.2MM
LoansQ2 2022vs Q2 2021$23.7MM$22.1MM
DepositsQ2 2022vs Q2 2021$41.3MM$37.4MM
Equity CapitalQ2 2022vs Q2 2021$6.0MM$5.6MM
Loan Loss AllowanceQ2 2022vs Q2 2021$38.00K$64.00K
Unbacked Noncurrent LoansQ2 2022vs Q2 2021$105.00K$81.00K
Real Estate OwnedQ2 2022vs Q2 2021$0$0
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Alco Federal Credit Union Savings Account Rates

0.65%$500-IRA Shares
0.25%$100-Christmas Club
0.25%$100-Vacation Club

Alco Federal Credit Union Money Market Rates

0.35%$2.5k-Money Market

Alco Federal Credit Union CD Rates

0.75%$500-12 Month Share Certificate
0.50%$500-6 Month Share Certificate

Alco Federal Credit Union IRA Rates

1.50%$500-36 Month IRA
0.75%$500-12 Month IRA

Alco Federal Credit Union Locations
Branch Office2859 Lindy LnWellsville, NY 14895-9337
Branch Office25 W Main StFriendship, NY 14739
Branch Office32 Greenwich StBelmont, NY 14813
Branch Office24 E Main StCuba, NY 14727

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