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Gowanda Area Credit Union

Overview
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Gowanda Area Credit Union is a federal credit union based in Gowanda, New York. It has been opened since 1935, for 85 years.

With around $20,920,000 in assets, Gowanda Area Credit Union is considered to be a medium size credit union.

About
Address Po Box 29
Gowanda, New York 14070
Website http://gowandaareafcu.org
Phone (716) 532-3790
Fax (716) 532-4629
CEO Mary A. Stelley
President of the Board Mary Clark
Services Offered
Map
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Score Card
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85 years
Years in business
Opened in 1935
Well Capitalized
Net worth classification
Source: NCUA
2,079 members
Membership type: Multiple common bond – primary federal, state, local government
Below average number of members
520:1
Credit union member to staff ratio
520 per each FTE employee
Compared to 411:1 nationally
Less staff than other credit unions
$20,915,284
Total assets
Below average
1 branch
Compared with an average of 4 nationally and 3 in New York
Average number of branches
0.05%
Savings interest rate
Compared to 0.3% nationally
7.99%
Unsecured credit card loan interest rate
Compared to 10.8% nationally
Branches
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1 branch
Compared with an average of 4 nationally and 3 in New York
Average number of branches
Gowanda Area Credit Union Branch Locations

Gowanda Area Federal Credit Union
14266 Taylor Hollow Road
Gowanda, New York 14070
No ATM
Members
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2,079 members
Membership type: Multiple common bond – primary federal, state, local government
Below average number of members

With 2,079 members, the Gowanda Area Credit Union is considered to be a small credit union. It is smaller than 64% of credit unions.

Fees
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$25
Average fee per member
The average fee per member at the Gowanda Area Credit Union is $25, which is low compared to most credit unions. This rate is lower than 69% of all credit unions.
Fees are lower 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 Gowanda Area Credit Union. Some credit unions tend to charge more fees, while others charge less.

Staff
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520:1
Credit union member to staff ratio
520 per each FTE employee
Compared to 411:1 nationally
Less staff than other credit unions
4 staff members
FTE (full-time equivalent)
0% of employees are part-time
4 full-time, 0 part-time

Gowanda Area Credit Union has 4 full-time staff members and 0 part-time staff members.

The number of members relative to staff members is an indication of how well staffed the credit union is. Gowanda Area Credit Union has around 520 members per staff, a high ratio compared to other credit unions.

Assets
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$20,915,284
Total assets
Below average
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.
9.2%
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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$10,352
Average loan and lease size
Loan & lease sizes are average sized. They are bigger than at 52% of credit unions.

Gowanda Area Credit Union holds a total of $7,320,000 in loans and leases, which is about $10,352 per member on average.

Savings interest rate
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0.05%
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. Gowanda Area Credit Union pays 0.05%.

Loan rates
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7.99%
Unsecured credit card loan interest rate
Compared to 10.8% nationally
4.50%
Unsecured non-credit card loan interest rate
Compared to 11.2% nationally
2.75%
Other secured non-real estate loans and lines of credit interest rate
Compared to 5.3% nationally
Car loan rates
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2.75%
New car loan rate
Compared to 4.0% nationally
2.75%
Used car loan rate
Compared to 5.2% nationally
Mortgage rates
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4.25%
Mortgage rate (secured by 1st lien)
Compared to 3.3% nationally
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Credit Card Loan Interest Rate
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