First Priority FCU is headquartered in Huntington and is the 15st largest credit union in the state of West Virginia. It is also the 2,177th largest credit union in the nation. It was established in 1925 and as of June of 2013, it had grown to 21 employees and 10,795 members. First Priority FCU's savings rates are 92% higher than the national average, and it has a A health rating.
Must be an employee of the United States Postal Service who work in post offices in the following three-digit ZIP Code areas: 255, 256, 257, 411, 412, 415, 416 or 456 or employee of several other companies. Also open to those who live, work, worship or attend school in Cabell or Wayne County, West Virginia or Lawrence County, Ohio. - See Details
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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 June 30, 2013 First Priority FCU had $577,000 in non-current loans and owned real-estate with $6.72 million in equity and loan loss allowances on hand to cover it. This gives First Priority FCU a Texas Ratio of 8.59% which is excellent. Any bank with a Texas Ratio near or greater than 100% is considered at risk.
The Texas Ratio for First Priority FCU decreased dramatically from 13.59% as of June 30, 2012 to 8.59% as of June 30, 2013, resulting in a positive change of 36.77%.This indicates that the balance sheet and financial strength for First Priority FCU has improved dramatically in recent periods.
In the past year, First Priority FCU has increased its total deposits by $336,000, resulting in 0.68% 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 Priority FCU has shown is above average.
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 Priority FCU has $55.59 million in assets with $6.72 million in equity, resulting in a capitalization level of 12.08%, which is excellent.
|Assets and Liabilities|
|Equity Capital||$5.52 million|
|Loan Loss Allowance||$1.20 million|
|Unbacked Noncurrent Loans||$174,000|
|Real Estate Owned||$403,000|
|Historic Data - June 2012|
|Equity Capital||$5.21 million|
|Loan Loss Allowance||$1.19 million|
|Unbacked Noncurrent Loans||$174,000|
|Real Estate Owned||$471,000|
|Profit Margin - Quarterly|
|Net Interest Margin||3.21%|
|Return on Assets||0.56%|
|Return on Equity||5.69%|
|Interest Income||$1.05 million|
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|1.00%||-||-||Christmas Club Account|
|1.00%||-||-||Vacation Club Account|
|1.00%||-||-||IRA Share Savings Account|
|1.00%||-||-||Roth IRA Share Savings Account|
|0.25%||$10k||-||Share Builder Savings Account|
|0.45%||$25k||-||Money Market Account|
|0.00%||-||-||Share Draft Account|
|0.65%||$5k||-||36 Month Non-Compounded Share Certificate|
|0.65%||$5k||-||36 Month Compounded Share Certificate|
|0.50%||$5k||-||24 Month Non-Compounded Share Certificate|
|0.50%||$5k||-||24 Month Compounded Share Certificate|
|0.35%||$5k||-||12 Month Non-Compounded Share Certificate|
|0.35%||$5k||-||12 Month Compounded Share Certificate|
|0.25%||$5k||-||6 Month Non-Compounded Share Certificate|
|0.25%||$5k||-||6 Month Compounded Share Certificate|
|First Priority FCU Locations|
|Branch Office||1140 Carter Ave||Ashland, KY 41101|
|Branch Office||3570 US Route 60 E||Barboursville, WV 25504|
|Branch Office||500 Virginia Ave||Huntington, WV 25701|