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Overview / Commentary
800-437-1057
P.O. Box 689
Cumberland, MD 21502

Chessie Credit Union is headquartered in Cumberland and is the 23rd largest credit union in the state of Maryland. It is also the 815st largest credit union in the nation. It was established in 1948 and as of December of 2013, it had grown to 88 employees and 29,323 members. Chessie Credit Union's savings rates are 2X the national average, and it has a B health rating.

Field of Membership Restrictions

Must live, work, worship or attend school in Allegany County, Maryland; Garrett County, Maryland; western portion of Washington County, Maryland; Mineral County, West Virginia or Taylor County, West Virginia. Also open to those who work in Abbie Business Institute or other Selected Employer Group. - See Details

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Health

Data for Q4 2013

Institution Health

B

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 Chessie Credit Union had $1.64 million in non-current loans and owned real-estate with $20.67 million in equity and loan loss allowances on hand to cover it. This gives Chessie Credit Union a Texas Ratio of 7.95% 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 Chessie Credit Union experienced no significant changes from 8.78% as of December 31, 2012 to 7.95% as of December 31, 2013, resulting in a positive change of 9.47%.This indicates that the balance sheet and financial strength for Chessie Credit Union has had no significant changes in recent periods.

Deposit Growth

GRADE:
C-

In the past year, Chessie Credit Union has decreased its total deposits by -$5.84 million, resulting in -2.65% 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 Chessie Credit Union has shown is below 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. Chessie Credit Union has $235.98 million in assets with $20.67 million in equity, resulting in a capitalization level of 8.76%, which is average.

Institution Statistics

Overall
NCUA #5636
Year Chartered1948
Employees88
Primary Regulator
Assets and Liabilities
Assets$235.98 million
Loans$165.31 million
Deposits$214.53 million
Equity Capital$19.39 million
Loan Loss Allowance$1.28 million
Unbacked Noncurrent Loans$1.45 million
Real Estate Owned$195,000
Historic Data - December 2012
Assets$242.16 million
Equity Capital$19.69 million
Loan Loss Allowance$898,000
Unbacked Noncurrent Loans$1.45 million
Real Estate Owned$284,000
Profit Margin - Quarterly
Net Interest Margin4.72%
Return on Assets0.13%
Return on Equity1.6%
Interest Income$9.47 million
Rates
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Chessie Credit Union Savings Account Rates

DetailsAPYMINMAXPRODUCT
1.26%--IRA Savings
1.26%--Roth IRA Savings
1.26%--Educational IRA Savings
0.25%--Share Savings Account
0.25%--Moola-Moola Savings
0.25%--Christmas Club
0.25%--Vacation Club

Chessie Credit Union Money Market Rates

DetailsAPYMINMAXPRODUCT
0.60%$100k-Tier Money Market Share Draft Checking

Chessie Credit Union CD Rates

DetailsAPYMINMAXPRODUCT
1.26%$500-60 Month Share Certificate
1.06%$500-48 Month Share Certificate
1.00%$500-15 Month "Great Special' CD
0.95%$500-36 Month Share Certificate
0.90%$500-24-35 Month Share Certificate
0.70%$500-12-23 Month Share Certificate
0.50%$500-6-11 Month Share Certificate

Chessie Credit Union IRA Rates

DetailsAPYMINMAXPRODUCT
1.26%$500-60 Month IRA Share Certificate (Traditional,CESA,Roth)
1.06%$500-48 Month IRA Share Certificate (Traditional,CESA,Roth)
0.95%$500-36 Month IRA Share Certificate (Traditional,CESA,Roth)
0.90%$500-24-35 Month IRA Share Certificate (Traditional,CESA,Roth)
0.70%$500-12-23 Month IRA Share Certificate (Traditional,CESA,Roth)
0.50%$500-6-11 Month IRA Share Certificate (Traditional,CESA,Roth)
Locations


Chessie Credit Union Locations
Branch Office15 Commerce DrCumberland, MD 21502
Branch Office141 Baltimore StCumberland, MD 21502
Branch Office122 W Union StCumberland, MD 21502
Branch Office1308 National HwyLaVale, MD 21502
Branch Office12501 Willowbrook RdCumberland, MD 21502
Branch Office1015 Florida AveKeyser, WV 26726
Branch Office400 N Pike StGrafton, WV 26354