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Alco Credit Union

Overview
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Alco Credit Union is a federal credit union based in Wellsville, New York. It has been opened since 1953, for 67 years.

With around $31,060,000 in assets, Alco Credit Union is considered to be an average size credit union. It has 4 branches and 4 ATM locations.

About
Address 2859 Lindy Lane
Wellsville, New York 14895
Website http://alcofcu.com
Phone (585) 593-4959
Fax (585) 593-4197
CEO Michael G. Miller
President of the Board Earl Stellrect
Services Offered
Map
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Score Card
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67 years
Years in business
Opened in 1953
Well Capitalized
Net worth classification
Source: NCUA
5,435 members
Membership type: Community credit union
Average number of members
247:1
Credit union member to staff ratio
247 per each FTE employee
Compared to 411:1 nationally
Tons of staff!
$31,062,349
Total assets
Average size
4 branches
Compared with an average of 4 nationally and 3 in New York
Above average number of branches
0.20%
Savings interest rate
Compared to 0.3% nationally
7.33%
Unsecured credit card loan interest rate
Compared to 10.8% nationally
Branches
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4 branches
Compared with an average of 4 nationally and 3 in New York
Above average number of branches
Alco Credit Union Branch Locations

Alco Credit Union: Belmont Office
32 Greenwich Street
Belmont, New York 14813
ATM Available
Alco Credit Union: Wellsville Office
2859 Lindy Lane
Wellsville, New York 14895
ATM Available
Alco Credit Union: Friendship Office
25 W. Main Street
Friendship, New York 14739
ATM Available
Alco Credit Union: Cuba Office
9 W. Main Street
Cuba, New York 14727
ATM Available
Members
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5,435 members
Membership type: Community credit union
Average number of members

With 5,435 members, the Alco Credit Union is considered to be a medium size credit union. It is larger than 59% of credit unions.

Fees
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$79
Average fee per member
The average fee per member at the Alco Credit Union is $79, which is high compared to most credit unions. This rate is higher than 73% of all credit unions.
Fees are higher than average

Credit unions, like banks, charge members various fees, such as overdraft fees, ATM fees, credit card fees, inactivity or dormat account fees, and more.

The average fee per member gives you a general sense of how much you might pay in fees as a member of the Alco Credit Union. Some credit unions tend to charge more fees, while others charge less.

Staff
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247:1
Credit union member to staff ratio
247 per each FTE employee
Compared to 411:1 nationally
Tons of staff!
22 staff members
FTE (full-time equivalent)
9% of employees are part-time
21 full-time, 2 part-time

Alco Credit Union has 21 full-time staff members and 2 part-time staff members. The staff is predominantly comprised of full-time staff, at approximately 91% of the workforce.

The number of members relative to staff members is an indication of how well staffed the credit union is. Alco Credit Union has around 247 members per staff, a very low ratio compared to other credit unions. This is a very well staffed credit union.

Assets
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$31,062,349
Total assets
Average size
Net worth
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Well Capitalized
Net worth classification
Source: NCUA
A well capitalized credit union has a net worth ratio of 7% or greater and also meets applicable risk-based net worth requirements, according to the National Credit Union Administration.
14.1%
Net worth ratio
A higher net worth ratio is better.
Compared to an average of 13.6% nationally

A credit union's net worth ratio is one of the most important metrics you should consider when deciding whether to join a credit union. Why? It's a measure of financial strength

The net worth ratio is equal to a credit union's net worth divided by its assets. According to the National Credit Union Administration, a minimum net worth ratio of 7% is required to be considered to be a well capitalized credit union.

Loans & leases
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$6,097
Average loan and lease size
Loan & lease sizes are very small. They are smaller than at 84% of credit unions.

Alco Credit Union holds a total of $19,040,000 in loans and leases, which is about $6,097 per member on average.

Savings interest rate
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0.20%
Savings interest rate
Compared to 0.3% nationally

A credit union share account is an account at a credit union. It's called a share account because the credit union is member owned and as a result, members own shares in the credit union.

A share savings account pays you interest on your savings, similar to a savings account at a bank. The interest you receive can vary. Alco Credit Union pays 0.20%.

Loan rates
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7.33%
Unsecured credit card loan interest rate
Compared to 10.8% nationally
10.10%
Unsecured non-credit card loan interest rate
Compared to 11.2% nationally
5.24%
Other secured non-real estate loans and lines of credit interest rate
Compared to 5.3% nationally
Car loan rates
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3.77%
New car loan rate
Compared to 4.0% nationally
5.40%
Used car loan rate
Compared to 5.2% nationally
Mortgage rates
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4.99%
Mortgage rate (secured by junior lien)
Compared to 3.4% nationally
4.07%
Mortgage rate (secured by 1st lien)
Compared to 3.3% nationally
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