Windsor Federal Savings is headquartered in WINDSOR and is the 18th largest bank in the state of Connecticut. It is also the 1,244th largest bank in the nation. It was established in 1935 and as of December of 2023, it had grown to 101 employees at 11 locations. Windsor Federal Savings' money market rates are 70% higher than the national average, and it has a B+ 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 Q4 2023
Learn why bank health mattersHealth Grade Components
| Overall | |
|---|---|
| FDIC Certificate # | 29632 |
| Year Established | 1935 |
| Employees | 101 |
| Primary Regulator | OCC |
| Profit Margin | |
|---|---|
| Return on Assets - YTD | 0.54% |
| Return on Equity - YTD | 6.68% |
| Annual Interest Income | $28.3MM |
| Assets and Liabilities | ||
|---|---|---|
| Assets | Q4 2023vs Q4 2022 | $777.6MM$749.1MM |
| Loans | Q4 2023vs Q4 2022 | $563.9MM$529.8MM |
| Deposits | Q4 2023vs Q4 2022 | $663.5MM$655.9MM |
| Equity Capital | Q4 2023vs Q4 2022 | $65.6MM$59.9MM |
| Loan Loss Allowance | Q4 2023vs Q4 2022 | $4.6MM$4.2MM |
| Unbacked Noncurrent Loans | Q4 2023vs Q4 2022 | $5.1MM$1.7MM |
| Real Estate Owned | Q4 2023vs Q4 2022 | $0$0 |