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 2,815th largest credit union in the nation. It was established in 1953 and as of March of 2019, it had grown to 20 employees and 5,462 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.
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Health
B+
Data as of Q1 2019
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 | 20 |
| Primary Regulator | |
| Profit Margin | |
|---|---|
| Return on Assets - YTD | 1.84% |
| Return on Equity - YTD | 12.85% |
| Annual Interest Income | $343.00K |
| Assets and Liabilities | ||
|---|---|---|
| Assets | Q1 2019vs Q1 2018 | $32.3MM$30.5MM |
| Loans | Q1 2019vs Q1 2018 | $18.8MM$18.3MM |
| Deposits | Q1 2019vs Q1 2018 | $27.6MM$26.3MM |
| Equity Capital | Q1 2019vs Q1 2018 | $4.5MM$4.2MM |
| Loan Loss Allowance | Q1 2019vs Q1 2018 | $89.00K$125.00K |
| Unbacked Noncurrent Loans | Q1 2019vs Q1 2018 | $60.00K$226.00K |
| Real Estate Owned | Q1 2019vs Q1 2018 | $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 |