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City Of Fairmont Credit Union

City Of Fairmont Credit Union
Overview / Commentary
P.O. Box 868
Fairmont, WV 26554

City Of Fairmont Credit Union is headquartered in Fairmont and is the 84th largest credit union in the state of West Virginia. It is also the 6,168th largest credit union in the nation. It was established in 1967 and as of March of 2014, it had grown to 326 members. City Of Fairmont Credit Union has a C- health rating.

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Health

Data for Q1 2014

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. City Of Fairmont Credit Union has a very low asset base.

Texas Ratio

GRADE:
C

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 City Of Fairmont Credit Union had $43,000 in non-current loans and owned real-estate with $131,000 in equity and loan loss allowances on hand to cover it. This gives City Of Fairmont Credit Union a Texas Ratio of 32.82% which is 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 City Of Fairmont Credit Union increased slightly from 4.88% as of March 31, 2013 to 32.82% as of March 31, 2014, resulting in a negative change of 572.90%. This indicates that the balance sheet and financial strength for City Of Fairmont Credit Union has declined slightly in recent periods.

Deposit Growth

GRADE:
F

In the past year, City Of Fairmont Credit Union has decreased its total deposits by $-240,000, resulting in -19.26% 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 City Of Fairmont Credit Union has shown is poor.

Capitalization

GRADE:
A

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. City Of Fairmont Credit Union has $1.13 million in assets with $131,000 in equity, resulting in a capitalization level of 11.63%, which is excellent.

Institution Statistics

Overall
NCUA #18142
Year Chartered1967
Employees0
Primary Regulator
Assets and Liabilities
Assets$1.13 million
Loans$603,000
Deposits$1.01 million
Equity Capital$119,000
Loan Loss Allowance$12,000
Unbacked Noncurrent Loans$43,000
Real Estate Owned$0
Historic Data - March 2013
Assets$1.36 million
Equity Capital$113,000
Loan Loss Allowance$10,000
Unbacked Noncurrent Loans$43,000
Real Estate Owned$0
Profit Margin - Quarterly
Net Interest Margin1.23%
Return on Assets0.36%
Return on Equity3.36%
Interest Income$11,000
Rates

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Locations


City Of Fairmont Credit Union Locations
Branch Office500 Quincy STFairmont, WV 26554