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United Business & Industry Credit Union

Overview
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United Business & Industry Credit Union is a federal credit union based in Plainville, Connecticut. It has been opened since 1951, for 69 years.

With around $104,870,000 in assets, United Business & Industry Credit Union is considered to be a large credit union. It has 3 branches and 2 ATM locations.

About
Address 120 Woodford Avenue
Plainville, Connecticut 06062
Website http://ubifcu.com
Phone (860) 747-4152
Fax (860) 793-8248
CEO Stuart Phillips
President of the Board Howard Schmelder
Services Offered
Map
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Score Card
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69 years
Years in business
Opened in 1951
Well Capitalized
Net worth classification
Source: NCUA
11,756 members
Membership type: Community credit union
Above average number of members
470:1
Credit union member to staff ratio
470 per each FTE employee
Compared to 411:1 nationally
Fewer staff
$104,868,532
Total assets
Above average
3 branches
Compared with an average of 4 nationally and 3 in Connecticut
Above average number of branches
0.05%
Savings interest rate
Compared to 0.3% nationally
11.49%
Unsecured credit card loan interest rate
Compared to 10.8% nationally
Branches
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3 branches
Compared with an average of 4 nationally and 3 in Connecticut
Above average number of branches
United Business & Industry Credit Union Branch Locations

United Business & Industry Federal Credit Union
120 Woodford Avenue
Plainville, Connecticut 06062
ATM Available
United Business & Industry Federal Credit Union
40A Chamberlain Highway
Kensington, Connecticut 06037
ATM Available
United Business & Industry Federal Credit Union
363 North Main Street
Bristol, Connecticut 06010
No ATM
Members
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11,756 members
Membership type: Community credit union
Above average number of members

With 11,756 members, the United Business & Industry Credit Union is considered to be a large credit union. It is larger than 74% of credit unions.

Fees
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$53
Average fee per member
The average fee per member at the United Business & Industry Credit Union is $53, which is comparable to most credit unions. This rate is lower than 46% 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 United Business & Industry Credit Union. Some credit unions tend to charge more fees, while others charge less.

Staff
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470:1
Credit union member to staff ratio
470 per each FTE employee
Compared to 411:1 nationally
Fewer staff
25 staff members
FTE (full-time equivalent)
39% of employees are part-time
19 full-time, 12 part-time

United Business & Industry Credit Union has 19 full-time staff members and 12 part-time staff members. The staff is predominantly comprised of full-time staff, at approximately 61% of the workforce.

The number of members relative to staff members is an indication of how well staffed the credit union is. United Business & Industry Credit Union has around 470 members per staff, a higher ratio compared to other credit unions.

Assets
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$104,868,532
Total assets
Above 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.
8.4%
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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$13,247
Average loan and lease size
Loan & lease sizes are bigger than average. They are bigger than at 72% of credit unions.

United Business & Industry Credit Union holds a total of $85,290,000 in loans and leases, which is about $13,247 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. United Business & Industry Credit Union pays 0.05%.

Loan rates
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11.49%
Unsecured credit card loan interest rate
Compared to 10.8% nationally
8.49%
Unsecured non-credit card loan interest rate
Compared to 11.2% nationally
5.05%
Other secured non-real estate loans and lines of credit interest rate
Compared to 5.3% nationally
Car loan rates
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3.49%
New car loan rate
Compared to 4.0% nationally
3.49%
Used car loan rate
Compared to 5.2% nationally
Mortgage rates
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4.50%
Mortgage rate (secured by junior lien)
Compared to 3.4% nationally
3.79%
Mortgage rate (secured by 1st lien)
Compared to 3.3% nationally