Solutions Federal Credit Union

Overview / Commentary
907 Broadway St
Elmira, NY 14904

Solutions Federal Credit Union is headquartered in Elmira and is the 149th largest credit union in the state of New York. It is also the 2,818th largest credit union in the nation. It was established in 1952 and as of December of 2021, it had grown to 7 employees and 3,713 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.
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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. Solutions Federal Credit Union has a low asset base.

Health Grade Components

NCUA #7846
Year Chartered1952
Primary Regulator
Profit Margin
Return on Assets - YTD0.6%
Return on Equity - YTD6.74%
Annual Interest Income$949.00K
Assets and Liabilities
AssetsQ4 2021vs Q4 2020$37.0MM$32.5MM
LoansQ4 2021vs Q4 2020$15.9MM$16.1MM
DepositsQ4 2021vs Q4 2020$33.5MM$29.3MM
Equity CapitalQ4 2021vs Q4 2020$3.3MM$3.1MM
Loan Loss AllowanceQ4 2021vs Q4 2020$52.00K$102.00K
Unbacked Noncurrent LoansQ4 2021vs Q4 2020$108.00K$66.00K
Real Estate OwnedQ4 2021vs Q4 2020$0$0
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Solutions Federal Credit Union Savings Account Rates

0.40%--IRA Accounts
0.10%$100-Share Account
0.10%--Christmas Club
0.10%--Vacation Club
0.10%--Miscellaneous Club

Solutions Federal Credit Union Money Market Rates

0.20%$2.5k-Money Market

Solutions Federal Credit Union CD Rates

0.40%$1k-18 Month Share Certificate
0.30%$1k-12 Month Share Certificate
0.20%$1k-6 Month Share Certificate

Solutions Federal Credit Union Locations
Branch Office907 Broadway StElmira, NY 14904-2501

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