TORCH LAKE

Headquarters

50 3RD ST
Laurium, MI 49913
See all branch locations →

Notable Rates APY Vs.Others
Savings 0.05% 0.91% →
1-Year CD 0.30% 0.85% →
2-Year CD 0.40% 0.95% →
5-Year CD N.A. 1.30% →
30-Year Mortgage N.A. 2.61% →
15-Year Mortgage N.A. 2.31% →
HELOC N.A. 2.79% →

2020 Overview

General Credit Union Information

Torch Lake is an NCUA insured institution located in Laurium, MI. It was founded in 1955 and has approximately $8.64 millions in assets.

NCUA Insured Yes
Charter Number # # 10099
Date Established 1955
Assets $8.64 million
Loans $4.85 million
Deposits $7.78 million
Capital $0.83 million
 

Deposit Rates - December 2, 2020

Your Current Location: Connecticut, CT 06828

Savings and Money Market Rates (Share Account Rates) APY MIN MAX
Savings
0.05% $2,500 $4,999 Learn More
CD Rates (Share Certificate Rates) APY MIN MAX
12 Mo CD
0.30% $10,000 $14,999 Learn More
12 Mo CD
0.30% $100,000 $199,999 Learn More
18 Mo CD
0.40% $10,000 $14,999 Learn More
18 Mo CD
0.40% $100,000 $199,999 Learn More
24 Mo CD
0.40% $10,000 $14,999 Learn More
24 Mo CD
0.40% $100,000 $199,999 Learn More

Loan Rates - December 2, 2020

Your Current Location: Connecticut, CT 06828

There are currently no loan rates available for TORCH LAKE

Please contact the bank for questions about their loan products. In the meantime you may wish to consider these offerings:



Featured - Connecticut 30 Year Fixed Mortgage Rates 2020

Lender APR Rate (%) Points Fees Monthly
Payment
Learn More
First Internet Bank
NMLS ID: 424182
2.548% 2.500% 0.63 $1,572 $988 Learn More
AmeriSave Mortgage Corporation
NMLS ID: 1168
2.583% 2.500% 0.88 $2,728 $988 Learn More

Featured - Connecticut Home Equity Line Of Credit Rates 2020

Lender APR (%)? Monthly Payment? Learn More
Third Federal Savings and Loans
Third Federal Savings and Loans
See Table
2.240 %
$0 Learn More
More Info
People's United Bank, N.A.
People's United Bank, N.A.
See Table
4.000 %
$0 Learn More
More Info

Note to TORCH LAKE
To upload and update your bank's rates please register. It is free to register and add rates.


 

Branches

Below are Torch Lake branches and locations in your neighborhood. Input a different zip code to find branches and locations for any neighborhood in the United States.

Your Location:
Fairfield,Connecticut


Torch Lake Locations


Financial Details

Torch Lake Ratio Analysis

The following ratios and data are available to help you better understand the financial condition of Torch Lake. The data is provided by the NCUA. All credit unions on BestCashCow, except those specified as not NCUA-insured in the overview section above, are NCUA-insured. Depositors should be careful to remain within NCUA insurance limits.

Texas Ratio
Torch Lake U.S. Average
10.51% 6.71

The Texas Ratio compares the amount of loans at risk and assets repossessed with the amount a credit union has on hand to cover any losses. The closer the Texas Ratio is to 1-to-1 or 100%, the less capital and reserves a credit union has to absorb its loan losses.

As of March 30, 2020, Torch Lake had $90,871 in non-current loans and $0 in owned assets. To cover these potential losses it had $829,003 in net worth and $36,011 in loans loss reserves. That gives it a Texas Ratio of 10.51%.

Net Worth
Torch Lake U.S. Average
9.59% 13.61%

Torch Lake FCU has a net worth of 9.59% versus the BestCashCow average of 13.61. Net worth measures how much total assets exceed total liabilities. The higher the net worth number the more secure a credit union is considered.

Frequently Asked Questions About Torch Lake

Branches and Savings

What is Torch Lake?

A federal credit union, registered with the NCUA under certificate #10099.
Learn more about credit unions here.

Is Torch Lake FDIC insured?

No, credit unions are not insured by the FDIC. They are insured by the National Credit Union Administration. The insurance provisions of the NCUA are similar to, but not identical to, FDIC insurance.

Who can join Torch Lake?

Please see Field of Membership information above for information on who is eligible to join.

What are Torch Lake's share account and share certificate rates?

Torch Lake's deposit account rates are listed above.
You may find better online savings rates here or better local savings rates at banks or credit unions. Tables with the best CD rates are here.

How big is Torch Lake?

Torch Lake has total capital of $0.83 million. Full information on Torch Lake's financial position is located above.

Who owns Torch Lake?

Credit Unions are owned by their members.

Where are Torch Lake branches located?

See branch locations nearby.

Are Torch Lake ATMs Open 24/7?

Do Torch Lake ATMs accept cash deposits?

Can Torch Lake customers use other ATMs? What is the charge for withdrawing money from another ATM?

Does Torch Lake have a mobile app?

Does Torch Lake have mobile deposit?

Does Torch Lake have quick pay?

How can Torch Lake transfer money to other banks or credit unions?

Does Torch Lake report to credit bureaus?

Does Torch Lake use Chexsystems?

Does Torch Lake use Equifax?

What is Torch Lake's toll free phone number?

What is Torch Lake's ACH Routing Number?

What is Torch Lake's SWIFT code?

Where can I find Torch Lake's wire transfer form?

What is the Torch Lake address for deposits?

What Products Does Torch Lake Offer

Does Torch Lake offer mortgages?

Compare mortgage rates here.

Does Torch Lake offer home equity lines of credit and home equity loans?

Compare home equity lines of credit rates here.

Does Torch Lake offer auto and RV loans?

Compare auto loan rates here.

Does Torch Lake offer student loans or personal loans?

Compare personal loan rates here.

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