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Solutions Credit Union

Overview
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Solutions Credit Union is a federal credit union based in Elmira, New York. It has been opened since 1952, for 68 years.

With around $26,640,000 in assets, Solutions Credit Union is considered to be an average size credit union. It has 1 branches and 1 ATM locations.

About
Address 907 Broadway
Elmira, New York 14904
Website http://solutionscu.org
Phone (607) 734-7144
Fax (607) 734-6757
CEO Thomas C. Wood
President of the Board Martin Mason
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
3,790 members
Membership type: Community credit union
Average number of members
474:1
Credit union member to staff ratio
474 per each FTE employee
Compared to 411:1 nationally
Fewer staff
$26,638,038
Total assets
Average size
1 branch
Compared with an average of 4 nationally and 3 in New York
Average number of branches
0.50%
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
Solutions Credit Union Branch Locations

Solutions Credit Union: Main/Only Office
907 Broadway Street
Elmira, New York 14904
ATM Available
Members
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3,790 members
Membership type: Community credit union
Average number of members

With 3,790 members, the Solutions Credit Union is considered to be a medium size credit union. It is larger than 51% of credit unions.

Fees
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$39
Average fee per member
The average fee per member at the Solutions Credit Union is $39, which is comparable to most credit unions. This rate is lower than 58% of all credit unions.
Fees are 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 Solutions Credit Union. Some credit unions tend to charge more fees, while others charge less.

Staff
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474:1
Credit union member to staff ratio
474 per each FTE employee
Compared to 411:1 nationally
Fewer staff
8 staff members
FTE (full-time equivalent)
0% of employees are part-time
8 full-time, 0 part-time

Solutions Credit Union has 8 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. Solutions Credit Union has around 474 members per staff, a higher ratio compared to other credit unions.

Assets
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$26,638,038
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.
10.3%
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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$9,590
Average loan and lease size
Loan & lease sizes are average sized. They are bigger than at 45% of credit unions.

Solutions Credit Union holds a total of $16,960,000 in loans and leases, which is about $9,590 per member on average.

Savings interest rate
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0.50%
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. Solutions Credit Union pays 0.50%.

Loan rates
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9.00%
Unsecured non-credit card loan interest rate
Compared to 11.2% nationally
7.00%
Other secured non-real estate loans and lines of credit interest rate
Compared to 5.3% nationally
Car loan rates
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3.93%
New car loan rate
Compared to 4.0% nationally
5.73%
Used car loan rate
Compared to 5.2% nationally
Mortgage rates
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4.70%
Other real estate loan rates
Compared to 0.9% nationally