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434-799-6598
320 Old Riverside Drive
Danville, VA 24541

Danville City Employees Credit Union is headquartered in Danville and is the 78th largest credit union in the state of Virginia. It is also the 3,245th largest credit union in the nation. It was established in 1948 and as of December of 2013, it had grown to 2,279 members. Danville City Employees Credit Union's savings rates are 94% higher than the national average, and it has a B health rating.

Field of Membership Restrictions

Active or retired employees of the City of Danville, VA and their families are eligible to join the credit union. Credit union employees and their families as well as employees of Severn Trent, Inc. and their families are in our field of membership. - 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. Danville City Employees Credit Union has a 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 Danville City Employees Credit Union had $25,000 in non-current loans and owned real-estate with $5.47 million in equity and loan loss allowances on hand to cover it. This gives Danville City Employees Credit Union a Texas Ratio of 0.46% 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 Danville City Employees Credit Union experienced no significant changes from 0.36% as of December 31, 2012 to 0.46% as of December 31, 2013, resulting in a negative change of 25.75%. This indicates that the balance sheet and financial strength for Danville City Employees Credit Union has had no significant changes in recent periods.

Deposit Growth

GRADE:
C-

In the past year, Danville City Employees Credit Union has decreased its total deposits by $-781,000, resulting in -4.01% 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 Danville City Employees Credit Union has shown is below average.

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. Danville City Employees Credit Union has $24.15 million in assets with $5.47 million in equity, resulting in a capitalization level of 22.64%, which is excellent.

Institution Statistics

Overall
NCUA #5919
Year Chartered1948
Employees0
Primary Regulator
Assets and Liabilities
Assets$24.15 million
Loans$7.63 million
Deposits$18.67 million
Equity Capital$5.45 million
Loan Loss Allowance$19,000
Unbacked Noncurrent Loans$25,000
Real Estate Owned$0
Historic Data - December 2012
Assets$24.96 million
Equity Capital$5.46 million
Loan Loss Allowance$36,000
Unbacked Noncurrent Loans$25,000
Real Estate Owned$0
Profit Margin - Quarterly
Net Interest Margin3.87%
Return on Assets-0.07%
Return on Equity-0.29%
Interest Income$541,000
Rates
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Danville City Employees Credit Union Savings Account Rates

DetailsAPYMINMAXPRODUCT
1.01%--IRA Share
0.20%$250-Regular Share Savings
0.20%$250-Club Account

Danville City Employees Credit Union CD Rates

DetailsAPYMINMAXPRODUCT
1.21%$1k-5 Year Share Certificate
0.90%$1k-4 Year Share Certificate
0.60%$1k-3 Year Share Certificate
0.55%$1k-2 Year Share Certificate
0.40%$1k-1 Year Share Certificate

Danville City Employees Credit Union IRA Rates

DetailsAPYMINMAXPRODUCT
1.21%$1k-5 Year IRA Certificate
0.90%$1k-4 Year IRA Certificate
0.60%$1k-3 Year IRA Certificate
0.55%$1k-2 Year IRA Certificate
0.40%$1k-1 Year IRA Certificate
Locations


Danville City Employees Credit Union Locations
Branch Office320 old Riverside DrDanville, VA 24541-3454