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Chesapeake City Emp Credit Union

Chesapeake City Emp Credit Union
Overview / Commentary
401 Albemarle Drive, Ste 102
Chesapeake, VA 23322

Chesapeake City Emp Credit Union is headquartered in Chesapeake and is the 127th largest credit union in the state of Virginia. It is also the 5,464th largest credit union in the nation. It was established in 1971 and as of December of 2013, it had grown to 3 employees and 1,716 members. Chesapeake City Emp Credit Union has a C- health rating.

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Health

Data for Q4 2013

Institution Health

C-
Additional Factors: Institutions with a small asset base or a short operating history can represent an instability risk beyond what their financial ratios indicate. Chesapeake City Emp Credit Union has a very low asset base.

Texas Ratio

GRADE:
B+

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 Chesapeake City Emp Credit Union had $41,000 in non-current loans and owned real-estate with $275,000 in equity and loan loss allowances on hand to cover it. This gives Chesapeake City Emp Credit Union a Texas Ratio of 14.91% which is above average. Any bank with a Texas Ratio near or greater than 100% is considered at risk.

Texas Ratio Trend

GRADE:
C+

The Texas Ratio for Chesapeake City Emp Credit Union experienced no significant changes from 15.41% as of December 31, 2012 to 14.91% as of December 31, 2013, resulting in a positive change of 3.22%.This indicates that the balance sheet and financial strength for Chesapeake City Emp Credit Union has had no significant changes in recent periods.

Deposit Growth

GRADE:
F

In the past year, Chesapeake City Emp Credit Union has decreased its total deposits by $-563,000, resulting in -12.6% 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 Chesapeake City Emp Credit Union has shown is poor.

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. Chesapeake City Emp Credit Union has $4.16 million in assets with $275,000 in equity, resulting in a capitalization level of 6.62%, which is below average.

Institution Statistics

Overall
NCUA #66919
Year Chartered1971
Employees3
Primary Regulator
Assets and Liabilities
Assets$4.16 million
Loans$1.76 million
Deposits$3.90 million
Equity Capital$239,000
Loan Loss Allowance$36,000
Unbacked Noncurrent Loans$41,000
Real Estate Owned$0
Historic Data - December 2012
Assets$4.84 million
Equity Capital$367,000
Loan Loss Allowance$3,000
Unbacked Noncurrent Loans$41,000
Real Estate Owned$0
Profit Margin - Quarterly
Net Interest Margin8.83%
Return on Assets-3.15%
Return on Equity-54.81%
Interest Income$170,000
Rates

Sorry, we do not have rate data for Chesapeake City Emp Credit Union

Locations


Chesapeake City Emp Credit Union Locations
Branch Office401 Albemarle Dr Ste 102Chesapeake, VA 23322
Branch Office4605 Commerce RdRichmond, VA 23234