Windsor Federal Savings is headquartered in Windsor and is the 19th largest bank in the state of Connecticut. It is also the 1,255th largest bank in the nation. It was established in 1935 and as of June of 2020, it had grown to 95 employees at 12 locations. Windsor Federal Savings' money market rates are 48% higher than the national average, and it has an A health rating.
Bank Elsewhere!
In an ill-fated effort to grow with the times, they recently opened a branch at a local high school. A strange move, yet the issue would be that they have students managing it! In this day and age of identity theft, the last thing I want is children (who have yet to enter the workforce) having access to my personal information. Regardless if they were "trained" or asked to sign a confidentiality contract, they have yet to learn the importance of such information. As soon as I heard such a business decision had been made, I took my banking elsewhere. You should too!
Data as of Q2 2020
Learn why bank health mattersHealth Grade Components
| Overall | |
|---|---|
| FDIC Certificate # | 29632 |
| Year Established | 1935 |
| Employees | 95 |
| Primary Regulator | OCC |
| Profit Margin | |
|---|---|
| Return on Assets - YTD | 0.57% |
| Return on Equity - YTD | 5.13% |
| Annual Interest Income | $10.1MM |
| Assets and Liabilities | ||
|---|---|---|
| Assets | Q2 2020vs Q2 2019 | $673.2MM$515.3MM |
| Loans | Q2 2020vs Q2 2019 | $472.6MM$390.4MM |
| Deposits | Q2 2020vs Q2 2019 | $590.2MM$433.5MM |
| Equity Capital | Q2 2020vs Q2 2019 | $67.0MM$61.9MM |
| Loan Loss Allowance | Q2 2020vs Q2 2019 | $3.7MM$3.1MM |
| Unbacked Noncurrent Loans | Q2 2020vs Q2 2019 | $2.2MM$2.5MM |
| Real Estate Owned | Q2 2020vs Q2 2019 | $0$0 |