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Overview / Commentary
800-437-1057
15 Commerce Dr
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 810st largest credit union in the nation. It was established in 1948 and as of March of 2014, it had grown to 91 employees and 29,426 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 Q1 2014

Institution Health

B+

Texas Ratio

GRADE:
A+

The Texas Ratio is an indicator of how much capital a bank has available compared to the total value of loans considered at risk. As of March 31, 2014 Chessie Credit Union had $1.08 million in non-current loans and owned real-estate with $20.9 million in equity and loan loss allowances on hand to cover it. This gives Chessie Credit Union a Texas Ratio of 5.14% which is excellent. Any bank with a Texas Ratio near or greater than 100% is considered at risk.

Texas Ratio Trend

GRADE:
B+

The Texas Ratio for Chessie Credit Union decreased slightly from 6.27% as of March 31, 2013 to 5.14% as of March 31, 2014, resulting in a positive change of 18.00%.This indicates that the balance sheet and financial strength for Chessie Credit Union has improved slightly in recent periods.

Deposit Growth

GRADE:
C+

In the past year, Chessie Credit Union has decreased its total deposits by -$1.19 million, resulting in -0.53% 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 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 $245.97 million in assets with $20.9 million in equity, resulting in a capitalization level of 8.50%, which is average.

Institution Statistics

Overall
NCUA #5636
Year Chartered1948
Employees91
Primary Regulator
Assets and Liabilities
Assets$245.97 million
Loans$162.93 million
Deposits$224.39 million
Equity Capital$19.62 million
Loan Loss Allowance$1.28 million
Unbacked Noncurrent Loans$951,000
Real Estate Owned$124,000
Historic Data - March 2013
Assets$248.73 million
Equity Capital$19.08 million
Loan Loss Allowance$1.06 million
Unbacked Noncurrent Loans$951,000
Real Estate Owned$382,000
Profit Margin - Quarterly
Net Interest Margin1.22%
Return on Assets0.31%
Return on Equity3.93%
Interest Income$2.32 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
1.06%$500-48 Month IRA Share Certificate
0.95%$500-36 Month IRA Share Certificate
0.90%$500-24-35 Month IRA Share Certificate
0.70%$500-12-23 Month IRA Share Certificate
0.50%$500-6-11 Month IRA Share Certificate
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