Trades & Labor Federal Credit Union

Overview / Commentary
610 S Broadway Ave
Albert Lea, MN 56007-4526

Trades & Labor Federal Credit Union is headquartered in ALBERT LEA and is the 73rd largest credit union in the state of Minnesota. It is also the 3,660th largest credit union in the nation. It was established in 1958 and as of March of 2020, it had grown to 6 employees and 2,405 members at 1 location. Trades & Labor Federal Credit Union has a B+ health rating.

Field of Membership Restrictions

Membership is open to those who live, work, volunteer, attend school or worship in the underserved area of Albert Lea, to members of all unions affiliated with Albert Lea Trades & Labor Assembly and to employees of Mayo Clinic Health System, Fountain Industries, Cargill Meat SOL and over 10 local Select Employer Groups.
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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. Trades & Labor Federal Credit Union has a low asset base.

Health Grade Components

NCUA #24674
Year Chartered1958
Primary Regulator
Profit Margin
Return on Assets - YTD1.33%
Return on Equity - YTD11.98%
Annual Interest Income$169.00K
Assets and Liabilities
AssetsQ1 2020vs Q1 2019$14.3MM$13.2MM
LoansQ1 2020vs Q1 2019$11.1MM$10.1MM
DepositsQ1 2020vs Q1 2019$12.7MM$11.8MM
Equity CapitalQ1 2020vs Q1 2019$1.5MM$1.3MM
Loan Loss AllowanceQ1 2020vs Q1 2019$84.00K$81.00K
Unbacked Noncurrent LoansQ1 2020vs Q1 2019$17.00K$27.00K
Real Estate OwnedQ1 2020vs Q1 2019$0$0
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* The APY shown varies based on the deposit amount. Expand the listing to see APYs for other deposit amounts.

Trades & Labor Federal Credit Union Savings Account Rates

0.50%*$80k*-Special Savings
OTHER TIERS: 0.10% $300 - $2.5k | 0.20% $2.5k - $20k | 0.30% $20k - $50k | 0.40% $50k - $80k
0.50%*$80k*-Preferred Shares
OTHER TIERS: 0.10% $300 - $2.5k | 0.20% $2.5k - $20k | 0.30% $20k - $50k | 0.40% $50k - $80k
0.25%$25-IRA Savings
0.10%$300-Regular Shares
0.10%$50-Trust Account
0.10%$50-Christmas Club Account

Trades & Labor Federal Credit Union Checking Account Rates

0.05%$500-Choice Checking

Trades & Labor Federal Credit Union CD Rates

0.90%$50k-24 Month Jumbo CD
0.80%$50k-12 Month Jumbo CD
0.70%$500-24 Month CD
0.70%$50k-6 Month Jumbo CD
0.60%$500-12 Month CD
0.40%$500-6 Month CD

Trades & Labor Federal Credit Union IRA Rates

1.10%$50k-60 Month Jumbo IRA
1.00%$50k-36 Month Jumbo IRA
0.90%$500-60 Month IRA
0.90%$50k-24 Month Jumbo IRA
0.80%$50k-12 Month Jumbo IRA
0.80%$500-36 Month IRA
0.70%$500-24 Month IRA
0.60%$500-12 Month IRA

Trades & Labor Federal Credit Union Locations
Branch Office610 S BROADWAY AVEALBERT LEA, MN 56007-4526

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