Dedicated to Deposits: Deals, Data, and Discussion
Featured Savings Rates
Featured Accounts
Overview / Commentary
800-335-0069
P.O. Box 1660
Lynchburg, VA 24505

Central Virginia Credit Union is headquartered in Lynchburg and is the 41st largest credit union in the state of Virginia. It is also the 1,455th largest credit union in the nation. It was established in 1976 and as of December of 2013, it had grown to 34 employees and 13,565 members. Central Virginia Credit Union's savings rates are 94% higher than the national average, and it has a A health rating.

Field of Membership Restrictions

Must live, work, worship or attend school in Virginia's Region 2000. - See Details

No reviews have been left for this bank yet. Be the first to review.



Health

Data for Q4 2013

Institution Health

A

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 Central Virginia Credit Union had $276,000 in non-current loans and owned real-estate with $9.57 million in equity and loan loss allowances on hand to cover it. This gives Central Virginia Credit Union a Texas Ratio of 2.88% which is excellent. Any bank with a Texas Ratio near or greater than 100% is considered at risk.

Texas Ratio Trend

GRADE:
A+

The Texas Ratio for Central Virginia Credit Union decreased dramatically from 8.04% as of December 31, 2012 to 2.88% as of December 31, 2013, resulting in a positive change of 64.15%.This indicates that the balance sheet and financial strength for Central Virginia Credit Union has improved dramatically in recent periods.

Deposit Growth

GRADE:
B+

In the past year, Central Virginia Credit Union has increased its total deposits by $1.39 million, resulting in 1.49% 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 Central Virginia Credit Union has shown is above average.

Capitalization

GRADE:
C+

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. Central Virginia Credit Union has $103.92 million in assets with $9.57 million in equity, resulting in a capitalization level of 9.21%, which is average.

Institution Statistics

Overall
NCUA #22307
Year Chartered1976
Employees34
Primary Regulator
Assets and Liabilities
Assets$103.92 million
Loans$50.02 million
Deposits$94.46 million
Equity Capital$9.24 million
Loan Loss Allowance$332,000
Unbacked Noncurrent Loans$276,000
Real Estate Owned$0
Historic Data - December 2012
Assets$102.06 million
Equity Capital$8.71 million
Loan Loss Allowance$358,000
Unbacked Noncurrent Loans$276,000
Real Estate Owned$254,000
Profit Margin - Quarterly
Net Interest Margin5.76%
Return on Assets0.51%
Return on Equity5.77%
Interest Income$3.42 million
Rates

Always verify rates and promotions with the bank or credit union. We are not Central Virginia Credit Union, we are a rate comparison website and can not provide official rates or promotions.

Central Virginia Credit Union Savings Account Rates

DetailsAPYMINMAXPRODUCT
1.01%--Coverdell Education Savings Account
1.01%--Traditional IRA Account
1.01%--Roth IRA Account
0.22%--Christmas Club
0.20%$250-Share Savings

Central Virginia Credit Union Money Market Rates

DetailsAPYMINMAXPRODUCT
0.25%$25k-Platinum Money Market
0.23%$10k-Preferred Money Market
0.22%$2,500-Gold Money Market
0.20%$500-Money Market Savings

Central Virginia Credit Union Checking Account Rates

DetailsAPYMINMAXPRODUCT
0.10%$1k-Dominion Club Checking
0.10%$750-Interest Checking
0.10%$1,200-Preferred Checking
0.05%$500-Branchless Checking

Central Virginia Credit Union CD Rates

DetailsAPYMINMAXPRODUCT
0.60%--36 Month Preferred Certificate
0.45%--24 Month Preferred Certificate
0.45%--36 Month Certificate
0.40%--12 Month Preferred Certificate
0.30%--24 Month Certificate
0.25%--6 Month Preferred Certificate
0.25%--12 Month Certificate
0.10%--6 Month Certificate

Central Virginia Credit Union IRA Rates

DetailsAPYMINMAXPRODUCT
0.60%--36 Month Preferred IRA Certificate (Traditional,Roth,CESA)
0.45%--24 Month Preferred IRA Certificate (Traditional,Roth,CESA)
0.45%--36 Month IRA Certificate (Traditional,Roth,CESA)
0.40%--12 Month Preferred IRA Certificate (Traditional,Roth,CESA)
0.30%--24 Month IRA Certificate (Traditional,Roth,CESA)
0.25%--6 Month Preferred IRA Certificate (Traditional,Roth,CESA)
0.25%--12 Month IRA Certificate (Traditional,Roth,CESA)
0.10%--6 Month IRA Certificate (Traditional,Roth,CESA)
Locations


Central Virginia Credit Union Locations
Branch Office109 Seminole DrMadison Heights, VA 24572-2447
Branch Office14416 Forest RdForest, VA 24551
Branch Office1638 Mount Athos RdLynchburg, VA 24504-5429
Branch Office20255 Timberlake RdLynchburg, VA 24502-7202