Overview / Commentary
Solutions Federal Credit Union is headquartered in Elmira and is the 143rd largest credit union in the state of New York. It is also the 2,663rd largest credit union in the nation. It was established in 1952 and as of September of 2024, it had grown to 7 employees and 3,524 members at 1 location. Solutions Federal Credit Union has a B+ health rating.
Field of Membership Restrictions
Solutions Credit Union is open to those who live or work in the City or Town of Elmira and the townships of Southport and Ashland. Membership eligibility also extends to family members, and employees of the credit union.
See current membership details
Health
B+
Data as of Q3 2024
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. Solutions Federal Credit Union has a low asset base.
Health Grade Components
| Overall | |
|---|---|
| NCUA # | 7846 |
| Year Chartered | 1952 |
| Employees | 7 |
| Primary Regulator | |
| Profit Margin | |
|---|---|
| Return on Assets - YTD | 1.81% |
| Return on Equity - YTD | 15.56% |
| Annual Interest Income | $1.6MM |
| Assets and Liabilities | ||
|---|---|---|
| Assets | Q3 2024vs Q3 2023 | $39.1MM$37.8MM |
| Loans | Q3 2024vs Q3 2023 | $18.2MM$17.2MM |
| Deposits | Q3 2024vs Q3 2023 | $34.1MM$33.7MM |
| Equity Capital | Q3 2024vs Q3 2023 | $4.5MM$3.8MM |
| Loan Loss Allowance | Q3 2024vs Q3 2023 | $57K$59K |
| Unbacked Noncurrent Loans | Q3 2024vs Q3 2023 | $56K$51K |
| Real Estate Owned | Q3 2024vs Q3 2023 | $0$0 |