Alternatives Federal Credit Union is headquartered in Ithaca and is the 59th largest credit union in the state of New York. It is also the 1,381st largest credit union in the nation. It was established in 1978 and as of June of 2022, it had grown to 47 employees and 10,688 members at 1 location. Alternatives Federal Credit Union has a B health rating.
Field of Membership Restrictions
Membership in Alternatives Federal Credit Union is open to those who live in the New York counties of Cayuga, Chemung, Cortland, Seneca, Schuyler, Steuben, Tioga, or Tompkins.
See current membership details
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Great Local Federal Credit Union With Great Service
My husband and I opened accounts with Alternatives just after our wedding, and the workers there made the process so easy for us. I had changed my last name and they talked me through the process to open the new accounts, which was much easier than expected. We also met with a representative to discuss buying a house in the future, and they were very patient with us (as beginners in the home-buying process). I do wish there were more ATMs around town, as it's not always easy to get to the main branch. I also like that Alternatives seeks to provide service to the community through its programming (the Money Wise program, free tax preparation, etc). Overall, I'm happy we found a credit union that cares about its members and the community.
Data as of Q2 2022
Learn why bank health mattersHealth Grade Components
| Overall | |
|---|---|
| NCUA # | 23283 |
| Year Chartered | 1978 |
| Employees | 47 |
| Primary Regulator | |
| Profit Margin | |
|---|---|
| Return on Assets - YTD | 0.31% |
| Return on Equity - YTD | 4.92% |
| Annual Interest Income | $2.4MM |
| Assets and Liabilities | ||
|---|---|---|
| Assets | Q2 2022vs Q2 2021 | $171.5MM$164.1MM |
| Loans | Q2 2022vs Q2 2021 | $80.3MM$98.2MM |
| Deposits | Q2 2022vs Q2 2021 | $152.4MM$150.0MM |
| Equity Capital | Q2 2022vs Q2 2021 | $10.6MM$11.1MM |
| Loan Loss Allowance | Q2 2022vs Q2 2021 | $745.00K$947.00K |
| Unbacked Noncurrent Loans | Q2 2022vs Q2 2021 | $1.6MM$1.8MM |
| Real Estate Owned | Q2 2022vs Q2 2021 | $0$0 |