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.
Must live, work, worship or attend school in Virginia's Region 2000. - See Details
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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.
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.
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.
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.
|Assets and Liabilities|
|Equity Capital||$9.24 million|
|Loan Loss Allowance||$332,000|
|Unbacked Noncurrent Loans||$276,000|
|Real Estate Owned||$0|
|Historic Data - December 2012|
|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 Margin||5.76%|
|Return on Assets||0.51%|
|Return on Equity||5.77%|
|Interest Income||$3.42 million|
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|1.01%||-||-||Coverdell Education Savings Account|
|1.01%||-||-||Traditional IRA Account|
|1.01%||-||-||Roth IRA Account|
|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|
|0.10%||$1k||-||Dominion Club Checking|
|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|
|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)|
|Central Virginia Credit Union Locations|
|Branch Office||109 Seminole Dr||Madison Heights, VA 24572-2447|
|Branch Office||14416 Forest Rd||Forest, VA 24551|
|Branch Office||1638 Mount Athos Rd||Lynchburg, VA 24504-5429|
|Branch Office||20255 Timberlake Rd||Lynchburg, VA 24502-7202|