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Olean Teachers' And Postal Credit Union

Overview
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Olean Teachers' And Postal Credit Union is a federal credit union based in Olean, New York. It has been opened since 1952, for 68 years.

With around $19,180,000 in assets, Olean Teachers' And Postal Credit Union is considered to be a medium size credit union. It has 1 branches and 1 ATM locations.

About
Address 1700 Constitution Avenue
Olean, New York 14760
Website http://otpfcu.com
Phone (716) 373-0155
Fax (716) 373-1593
CEO Patricia N. Sander
President of the Board Anthony Kopko
Services Offered
Map
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Score Card
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68 years
Years in business
Opened in 1952
Well Capitalized
Net worth classification
Source: NCUA
1,941 members
Membership type: Community credit union
Below average number of members
353:1
Credit union member to staff ratio
353 per each FTE employee
Compared to 411:1 nationally
Average number of staff
$19,183,538
Total assets
Below average
1 branch
Compared with an average of 4 nationally and 3 in New York
Average number of branches
0.20%
Savings interest rate
Compared to 0.3% nationally
Branches
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1 branch
Compared with an average of 4 nationally and 3 in New York
Average number of branches
Olean Teachers' And Postal Credit Union Branch Locations
Members
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1,941 members
Membership type: Community credit union
Below average number of members

With 1,941 members, the Olean Teachers' And Postal Credit Union is considered to be a small credit union. It is smaller than 66% of credit unions.

Fees
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$18
Average fee per member
The average fee per member at the Olean Teachers' And Postal Credit Union is $18, which is low compared to most credit unions. This rate is lower than 75% 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 Olean Teachers' And Postal Credit Union. Some credit unions tend to charge more fees, while others charge less.

Staff
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353:1
Credit union member to staff ratio
353 per each FTE employee
Compared to 411:1 nationally
Average number of staff
6 staff members
FTE (full-time equivalent)
43% of employees are part-time
4 full-time, 3 part-time

Olean Teachers' And Postal Credit Union has 4 full-time staff members and 3 part-time staff members. The staff is comprised of part-time and full-time staff, with part-time staff approximately 43% of the workforce.

The number of members relative to staff members is an indication of how well staffed the credit union is. Olean Teachers' And Postal Credit Union has around 353 members per staff, an average ratio compared to other credit unions. This is a somewhat well staffed credit union.

Assets
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$19,183,538
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.
8.8%
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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$14,454
Average loan and lease size
Loan & lease sizes are bigger than average. They are bigger than at 78% of credit unions.

Olean Teachers' And Postal Credit Union holds a total of $8,330,000 in loans and leases, which is about $14,454 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. Olean Teachers' And Postal Credit Union pays 0.20%.

Loan rates
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9.26%
Unsecured non-credit card loan interest rate
Compared to 11.2% nationally
6.08%
Other secured non-real estate loans and lines of credit interest rate
Compared to 5.3% nationally
Car loan rates
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2.88%
New car loan rate
Compared to 4.0% nationally
6.00%
Used car loan rate
Compared to 5.2% nationally
Mortgage rates
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4.65%
Mortgage rate (secured by junior lien)
Compared to 3.4% nationally
4.33%
Mortgage rate (secured by 1st lien)
Compared to 3.3% nationally
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