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Overview / Commentary
740-354-7791
P.O. Box 1546
Portsmouth, OH 45662

Desco Credit Union is headquartered in PORTSMOUTH and is the 19st largest credit union in the state of Ohio. It is also the 743rd largest credit union in the nation. It was established in 1963 and as of December of 2013, it had grown to 92 employees and 25,689 members. Desco Credit Union has a B+ health rating.

Field of Membership Restrictions

Must be a resident of Scioto or Lawrence County in Ohio, Boyd County in Kentucky or Cabell or Wayne in West Virginia. - 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 Desco Credit Union had $2.3 million in non-current loans and owned real-estate with $24.62 million in equity and loan loss allowances on hand to cover it. This gives Desco Credit Union a Texas Ratio of 9.33% 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 Desco Credit Union experienced no significant changes from 8.43% as of December 31, 2012 to 9.33% as of December 31, 2013, resulting in a negative change of 10.65%. This indicates that the balance sheet and financial strength for Desco Credit Union has had no significant changes in recent periods.

Deposit Growth

GRADE:
C+

In the past year, Desco Credit Union has decreased its total deposits by -$1.75 million, resulting in -0.73% 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 Desco 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. Desco Credit Union has $267.66 million in assets with $24.62 million in equity, resulting in a capitalization level of 9.20%, which is average.

Institution Statistics

Overall
NCUA #15882
Year Chartered1963
Employees92
Primary Regulator
Assets and Liabilities
Assets$267.66 million
Loans$151.97 million
Deposits$239.09 million
Equity Capital$23.20 million
Loan Loss Allowance$1.43 million
Unbacked Noncurrent Loans$1.65 million
Real Estate Owned$652,000
Historic Data - December 2012
Assets$270.63 million
Equity Capital$21.83 million
Loan Loss Allowance$1.66 million
Unbacked Noncurrent Loans$1.65 million
Real Estate Owned$329,000
Profit Margin - Quarterly
Net Interest Margin4.36%
Return on Assets0.57%
Return on Equity6.57%
Interest Income$8.62 million
Rates
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Desco Credit Union Savings Account Rates

DetailsAPYMINMAXPRODUCT
0.25%--Health Savings Account
0.15%$50-Savings Account

Desco Credit Union Checking Account Rates

DetailsAPYMINMAXPRODUCT
0.30%$25k-Checking Account

Desco Credit Union CD Rates

DetailsAPYMINMAXPRODUCT
1.31%$500$25k60 Month Share Certificate
1.06%$500$25k48 Month Share Certificate
0.85%$500$25k36 Month Share Certificate
0.65%$500$25k30 Month Share Certificate
0.55%$500$25k24 Month Share Certificate
0.45%$500$25k18 Month Share Certificate
0.35%$2,500$25k12 Month Share Certificate
0.20%$2,500$25k6 Month Share Certificate
0.15%$2,500$25k91 Day Share Certificate
0.10%$2,500$25k31 Day Share Certificate
Locations


Desco Credit Union Locations
Branch Office221 Vine StNew Boston, OH 45662
Branch Office575 West StMinford, OH 45653
Branch Office455 Armco RdAshland, KY 41101
Branch Office8790 Ohio River RdWheelersburg, OH 45694
Branch Office414 Washington StPortsmouth, OH 45662
Branch Office401 Chillicothe StPortsmouth, OH 45662
Branch Office2915 S 3rd StIronton, OH 45638