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Fairfax City Credit Union

Fairfax City Credit Union
Overview / Commentary
10455 Armstrong St.
Fairfax, VA 22030

Fairfax City Credit Union is headquartered in Fairfax and is the 141st largest credit union in the state of Virginia. It is also the 5,828th largest credit union in the nation. It was established in 1968 and as of December of 2013, it had grown to 1 employees and 470 members. Fairfax City Credit Union has a C+ health rating.

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Health

Data for Q4 2013

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. Fairfax City Credit Union has a very 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 Fairfax City Credit Union had $4,000 in non-current loans and owned real-estate with $259,000 in equity and loan loss allowances on hand to cover it. This gives Fairfax City Credit Union a Texas Ratio of 1.54% which is excellent. Any bank with a Texas Ratio near or greater than 100% is considered at risk.

Texas Ratio Trend

GRADE:
A

The Texas Ratio for Fairfax City Credit Union decreased dramatically from 2.37% as of December 31, 2012 to 1.54% as of December 31, 2013, resulting in a positive change of 34.88%.This indicates that the balance sheet and financial strength for Fairfax City Credit Union has improved dramatically in recent periods.

Deposit Growth

GRADE:
B+

In the past year, Fairfax City Credit Union has increased its total deposits by $52,000, resulting in 2.45% 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 Fairfax City Credit Union has shown is above average.

Capitalization

GRADE:
B+

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. Fairfax City Credit Union has $2.46 million in assets with $259,000 in equity, resulting in a capitalization level of 10.53%, which is above average.

Institution Statistics

Overall
NCUA #18665
Year Chartered1968
Employees1
Primary Regulator
Assets and Liabilities
Assets$2.46 million
Loans$1.22 million
Deposits$2.18 million
Equity Capital$249,000
Loan Loss Allowance$10,000
Unbacked Noncurrent Loans$4,000
Real Estate Owned$0
Historic Data - December 2012
Assets$2.40 million
Equity Capital$243,000
Loan Loss Allowance$10,000
Unbacked Noncurrent Loans$4,000
Real Estate Owned$0
Profit Margin - Quarterly
Net Interest Margin7.37%
Return on Assets0.2%
Return on Equity2.01%
Interest Income$100,000
Rates

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Locations


Fairfax City Credit Union Locations
Branch Office10802 Maple StFairfax, VA 22030-5136
Branch Office10455 Armstrong StFairfax, VA 22030-3600
Branch Office4401 Sideburn RdFairfax, VA 22030