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Overview / Commentary
434-575-7916
1176 Huell Mathews Hwy
South Boston, VA 24592

Halifax County Community Credit Union is headquartered in South Boston and is the 117st largest credit union in the state of Virginia. It is also the 5,047th largest credit union in the nation. It was established in 1981 and as of December of 2013, it had grown to 3 employees and 5,312 members. Halifax County Community Credit Union has a B health rating.

Field of Membership Restrictions

Halifax County Community FCU is registered as a Community Credit Union and is open to anyone that resides or works in Halifax County. - 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. Halifax County Community 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 Halifax County Community Credit Union had $29,000 in non-current loans and owned real-estate with $727,000 in equity and loan loss allowances on hand to cover it. This gives Halifax County Community Credit Union a Texas Ratio of 3.99% 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 Halifax County Community Credit Union decreased dramatically from 5.94% as of December 31, 2012 to 3.99% as of December 31, 2013, resulting in a positive change of 32.84%.This indicates that the balance sheet and financial strength for Halifax County Community Credit Union has improved dramatically in recent periods.

Deposit Growth

GRADE:
A

In the past year, Halifax County Community Credit Union has increased its total deposits by $180,000, resulting in 3.41% 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 Halifax County Community Credit Union has shown is excellent.

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. Halifax County Community Credit Union has $6.22 million in assets with $727,000 in equity, resulting in a capitalization level of 11.68%, which is excellent.

Institution Statistics

Overall
NCUA #23760
Year Chartered1981
Employees3
Primary Regulator
Assets and Liabilities
Assets$6.22 million
Loans$1.64 million
Deposits$5.46 million
Equity Capital$684,000
Loan Loss Allowance$43,000
Unbacked Noncurrent Loans$29,000
Real Estate Owned$0
Historic Data - December 2012
Assets$6.06 million
Equity Capital$682,000
Loan Loss Allowance$42,000
Unbacked Noncurrent Loans$29,000
Real Estate Owned$0
Profit Margin - Quarterly
Net Interest Margin9.91%
Return on Assets0%
Return on Equity0%
Interest Income$192,000
Rates
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Halifax County Community Credit Union Savings Account Rates

DetailsAPYMINMAXPRODUCT
0.25%--Share Savings
0.25%--Christmas Club
0.25%--Vacation Club
Locations


Halifax County Community Credit Union Locations
Branch Office1176 Huell Matthews HwySouth Boston, VA 24592-7124
Branch Office1176 Huell Matthews HwySouth Boston, VA 24592