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Overview / Commentary
877-748-CFCU
4808 Market Square Ln
Midlothian, VA 23112

Chesterfield Credit Union is headquartered in Midlothian and is the 50th largest credit union in the state of Virginia. It is also the 1,723rd largest credit union in the nation. It was established in 1963 and as of December of 2013, it had grown to 31 employees and 12,688 members. Chesterfield Credit Union has a B+ health rating.

Field of Membership Restrictions

Must be an employee of the Chesterfield County or several other organizations. - See Details

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Health

Data for Q4 2013

Institution Health

B+
Additional Factors: Institutions with a small asset base or a short operating history can represent an instability risk beyond what their financial ratios indicate. Chesterfield Credit Union has a relatively low asset base.

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 Chesterfield Credit Union had $145,000 in non-current loans and owned real-estate with $5.43 million in equity and loan loss allowances on hand to cover it. This gives Chesterfield Credit Union a Texas Ratio of 2.67% 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 Chesterfield Credit Union experienced no significant changes from 2.48% as of December 31, 2012 to 2.67% as of December 31, 2013, resulting in a negative change of 7.94%. This indicates that the balance sheet and financial strength for Chesterfield Credit Union has had no significant changes in recent periods.

Deposit Growth

GRADE:
B

In the past year, Chesterfield Credit Union has increased its total deposits by $279,000, resulting in 0.38% 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 Chesterfield 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. Chesterfield Credit Union has $80.32 million in assets with $5.43 million in equity, resulting in a capitalization level of 6.76%, which is below average.

Institution Statistics

Overall
NCUA #15496
Year Chartered1963
Employees31
Primary Regulator
Assets and Liabilities
Assets$80.32 million
Loans$41.79 million
Deposits$74.59 million
Equity Capital$5.16 million
Loan Loss Allowance$272,000
Unbacked Noncurrent Loans$145,000
Real Estate Owned$0
Historic Data - December 2012
Assets$80.28 million
Equity Capital$5.57 million
Loan Loss Allowance$292,000
Unbacked Noncurrent Loans$145,000
Real Estate Owned$0
Profit Margin - Quarterly
Net Interest Margin5.01%
Return on Assets0.15%
Return on Equity2.41%
Interest Income$2.66 million
Rates
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Chesterfield Credit Union Savings Account Rates

DetailsAPYMINMAXPRODUCT
0.10%$100-IRA Savings
0.10%$100-Roth IRA Savings
0.05%$100-Primary Share Savings
0.05%$100-Club Accounts

Chesterfield Credit Union Money Market Rates

DetailsAPYMINMAXPRODUCT
0.10%$50k-Money Market Savings
0.10%$50k-Money Market Checking

Chesterfield Credit Union CD Rates

DetailsAPYMINMAXPRODUCT
0.50%$1k-60 Month Share Certificate
0.40%$1k-48 Month Share Certificate
0.30%$1k-36 Month Share Certificate
0.20%$1k-24 Month Share Certificate
0.10%$1k-12 Month Share Certificate
0.05%$1k-6 Month Share Certificate

Chesterfield Credit Union IRA Rates

DetailsAPYMINMAXPRODUCT
0.50%$1k-60 Month IRA Certificate
0.40%$1k-48 Month IRA Certificate
0.30%$1k-36 Month IRA Certificate
0.20%$1k-24 Month IRA Certificate
0.10%$1k-12 Month IRA Certificate
0.05%$1k-6 Month IRA Certificate
Locations


Chesterfield Credit Union Locations
Branch Office4900 Millridge Pkwy EMidlothian, VA 23112
Branch Office4808 Market Square LnMidlothian, VA 23112-4826
Branch Office6737 Public Safety RdChesterfield, VA 23832-6674
Branch Office13601 Midlothian TpkeMidlothian, VA 23113