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Overview / Commentary
540-639-0885
900 W Main St
Radford, VA 24141-1597

First NRV Federal Credit Union is headquartered in Radford and is the 92nd largest credit union in the state of Virginia. It is also the 3,881st largest credit union in the nation. It was established in 1937 and as of March of 2014, it had grown to 4 employees and 2,341 members. First NRV Federal Credit Union's savings rates are 54% higher than the national average, and it has a B health rating.

Field of Membership Restrictions

-- Employees, family members and retirees of noted Select Employer Groups. -- Members of Local Lodge 67 [International Association of Machinists and Aerospace Workers in Dublin]. -- All persons that live, work, worship, or attend school in City of Radford. -- Businesses and other legal entities located in the City of Radford. -- Spouses of persons who died while within the field of membership of this credit union. -- Members of the immediate families or household of any of the above groups. -- And Organizations of such persons - See Details

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Health

Data for Q1 2014

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. First NRV Federal Credit Union has a low asset base.

Texas Ratio

GRADE:
A+

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 First NRV Federal Credit Union had $21,000 in non-current loans and owned real-estate with $1.3 million in equity and loan loss allowances on hand to cover it. This gives First NRV Federal Credit Union a Texas Ratio of 1.61% which is excellent. Any bank with a Texas Ratio near or greater than 100% is considered at risk.

Texas Ratio Trend

GRADE:
B+

The Texas Ratio for First NRV Federal Credit Union decreased slightly from 2.25% as of March 31, 2013 to 1.61% as of March 31, 2014, resulting in a positive change of 28.50%.This indicates that the balance sheet and financial strength for First NRV Federal Credit Union has improved slightly in recent periods.

Deposit Growth

GRADE:
B+

In the past year, First NRV Federal Credit Union has increased its total deposits by $414,000, resulting in 2.96% 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 First NRV Federal 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. First NRV Federal Credit Union has $15.78 million in assets with $1.3 million in equity, resulting in a capitalization level of 8.27%, which is average.

Institution Statistics

Overall
NCUA #2263
Year Chartered1937
Employees4
Primary Regulator
Assets and Liabilities
Assets$15.78 million
Loans$3.82 million
Deposits$14.42 million
Equity Capital$1.27 million
Loan Loss Allowance$36,000
Unbacked Noncurrent Loans$21,000
Real Estate Owned$0
Historic Data - March 2013
Assets$15.42 million
Equity Capital$1.27 million
Loan Loss Allowance$62,000
Unbacked Noncurrent Loans$21,000
Real Estate Owned$0
Profit Margin - Quarterly
Net Interest Margin1.62%
Return on Assets-0.03%
Return on Equity-0.32%
Interest Income$98,000
Rates
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First NRV Federal Credit Union Savings Account Rates

DetailsAPYMINMAXPRODUCT
0.80%--IRA
0.10%$100k-Regular Shares
0.05%--Christmas Club

First NRV Federal Credit Union Checking Account Rates

DetailsAPYMINMAXPRODUCT
0.03%$100-Checking

First NRV Federal Credit Union CD Rates

DetailsAPYMINMAXPRODUCT
0.75%--5 Year Share Certificate
0.30%--3 Year Share Certificate
0.15%--2 Year Share Certificate
0.10%--1 Year Share Certificate
Locations


First NRV Federal Credit Union Locations
Branch Office900 W Main StRadford, VA 24141-1597