Finex is headquartered in East Hartford and is the 22nd largest credit union in the state of Connecticut. It is also the 1,731st largest credit union in the nation. It was established in 1938 and as of June of 2023, it had grown to 25 employees and 9,059 members at 2 locations. Finex has a B health rating.
Field of Membership Restrictions
Membership in Finex is open to those who live, work, or worship in Hartford or Tolland counties, or have a family member who is already a member.
See current membership details
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Low Rates And Excellent Service
We have been using First New England for over 25 years. We just got a new loan to consolidate some older loans. We are always impressed with the service that we get here. Everything is explained well and set up for online payments that make it so easy and convenient. If you have good credit, they always have the lowest rates around. Thank you Cindy for all you do. We will never get a loan anywhere else!
Lorraine & Tom Tuller
Good for Limited Banking
I have been a long time member of Finex and generally think that they have good customer service and banking services. However, in the last several years, they have closed the branch closest to my home and decreased their hours which makes it difficult when I need to interact with the bank. Additionally, they have replaced human tellers with "digital tellers" that you must interact with via webcam in most branches. I find this difficult and would prefer an actual person. My last complaint is that the bank does not have a good fraud detection system. In the past, they have simply shut off my debit card without warning when they identified "fraud" and were unable to tell me why they suspected fraud or what triggered this shutoff. I would then have to wait to receive a new card in the mail which could take a long time (and once they even forgot to send the card for several weeks). I wish they had a better system like other banks that simply text/email you an alert to ask if you made a specific purchase.
Rewards Checking
If you opened a rewards checking account when rates were better, close it now! They charged me a $10 fee for not meeting the ACH requirement, and they didn't even send me a disclosure ahead of time that stated such! Their site still maintains it is a "free" checking account when the requirements aren't met, but obviously there's strings to that.
What kind of financial institution changes the rules without fully notifying customers of the change and allowing them full access to those rules? FNEFCU would fit into that category.
Terrible Bank-Customer Service
Fees are terrible, customer service terrible, rates terrible. Stay away from this bank.
I needed to withdrawal money from my account, I tried to call and left 4 messages letting them know what I needed to do. No one ever answered the phone, I left 4 messages, no one ever called back.
When I went to the bank to get the money they wouldn't let me have my own money because I didn't get an approval. I couldn't get an approval because they don't answer the damn phone and they don't call back when you leave messages!
But also they wouldn't give me MY OWN MONEY!
Terrible customer service. I strongly recommend anyone to stay away from this bank.
Stay Away ! Far Away!
Had a rewards checking account that fell into disuse.
To keep it active, I would write a check for a few dollars once a year.
It had a balance of approx $350.
The other day I found out that, despite "activity" they began charging me $15 a month
for the past 2 years. My $350 turned into $50.
They basically stole my money.
When I pointed out to them that their REWARDS checking account disclosure said
"No service charges" and something to the effect that if you didn't maintain the Rewards Checking account
activity level, they would revert the account to a FREE CHECKING account, they told me "to bad"
Can you imagine having $200 stolen from you without so much as a letter, e-mail, phone call?
Nothing!
They said that they were "planning" on notifying people in this situation in the future.
Stay away !
Stay far awy!
Data as of Q2 2023
Learn why bank health mattersHealth Grade Components
| Overall | |
|---|---|
| NCUA # | 68662 |
| Year Chartered | 1938 |
| Employees | 25 |
| Primary Regulator | |
| Profit Margin | |
|---|---|
| Return on Assets - YTD | 0.13% |
| Return on Equity - YTD | 1.45% |
| Annual Interest Income | $2.2MM |
| Assets and Liabilities | ||
|---|---|---|
| Assets | Q2 2023vs Q2 2022 | $111.1MM$109.8MM |
| Loans | Q2 2023vs Q2 2022 | $77.4MM$69.5MM |
| Deposits | Q2 2023vs Q2 2022 | $95.5MM$96.8MM |
| Equity Capital | Q2 2023vs Q2 2022 | $9.8MM$9.8MM |
| Loan Loss Allowance | Q2 2023vs Q2 2022 | $0$841.00K |
| Unbacked Noncurrent Loans | Q2 2023vs Q2 2022 | $844.00K$445.00K |
| Real Estate Owned | Q2 2023vs Q2 2022 | $0$0 |