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Overview / Commentary
540-245-5706
P.O. Box 590
Verona, VA 24482

Augusta County Credit Union is headquartered in VERONA and is the 82nd largest credit union in the state of Virginia. It is also the 3,440th largest credit union in the nation. It was established in 1957 and as of December of 2013, it had grown to 3 employees and 2,633 members. Augusta County Credit Union has a B+ health rating.

Field of Membership Restrictions

To be eligible for membership in the Augusta County Federal Credit Union, you must be either an employee of Augusta County or be a relative of an employee who is a member. - See Details

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Health

Data for Q4 2013

Institution Health

B+
Additional Factors: Institutions with a small asset base or a short operating history can represent an instability risk beyond what their financial ratios indicate. Augusta County Credit Union has a low asset base.

Texas Ratio

GRADE:
A+

The Texas Ratio is an indicator of how much funds a bank has available compared to the total value of loans considered at risk. As of December 31, 2013 Augusta County Credit Union had $181,000 in non-current loans and owned real-estate with $3.14 million in equity and loan loss allowances on hand to cover it. This gives Augusta County Credit Union a Texas Ratio of 5.76% which is excellent. Any bank with a Texas Ratio near or greater than 100% is considered at risk.

Texas Ratio Trend

GRADE:
C+

The Texas Ratio for Augusta County Credit Union experienced no significant changes from 2.66% as of December 31, 2012 to 5.76% as of December 31, 2013, resulting in a negative change of 116.79%. This indicates that the balance sheet and financial strength for Augusta County Credit Union has had no significant changes in recent periods.

Deposit Growth

GRADE:
A+

In the past year, Augusta County Credit Union has increased its total deposits by $1.33 million, resulting in 7.98% growth for the year. A strong track record of growth is an indicator of consumer confidence and the bank's ability to strengthen its balance sheet. The growth Augusta County Credit Union has shown is excellent.

Capitalization

GRADE:
A+

Both FDIC and NCUA consider capitalization levels of banks and credit unions to be of high importance. Higher capitalization allows for a greater buffer when cover loans that may fail in the future. Augusta County Credit Union has $21.12 million in assets with $3.14 million in equity, resulting in a capitalization level of 14.87%, which is excellent.

Institution Statistics

Overall
NCUA #11744
Year Chartered1957
Employees3
Primary Regulator
Assets and Liabilities
Assets$21.12 million
Loans$7.94 million
Deposits$17.97 million
Equity Capital$3.12 million
Loan Loss Allowance$20,000
Unbacked Noncurrent Loans$181,000
Real Estate Owned$0
Historic Data - December 2012
Assets$19.62 million
Equity Capital$2.94 million
Loan Loss Allowance$29,000
Unbacked Noncurrent Loans$181,000
Real Estate Owned$0
Profit Margin - Quarterly
Net Interest Margin6.3%
Return on Assets0.84%
Return on Equity5.67%
Interest Income$631,000
Rates
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Augusta County Credit Union Savings Account Rates

DetailsAPYMINMAXPRODUCT
0.40%$100-Share Savings Account

Augusta County Credit Union Checking Account Rates

DetailsAPYMINMAXPRODUCT
0.10%$100-Draft Checking Account

Augusta County Credit Union CD Rates

DetailsAPYMINMAXPRODUCT
0.75%$500-1 Year CD
Locations


Augusta County Credit Union Locations
Branch Office18 GOVERNMENT CENTER LNVERONA, VA 24482-2639