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Overview / Commentary
757-838-0707
2130 Cunningham Dr
Hampton, VA 23666

Hampton Roads Educ Credit Union Inc is headquartered in Hampton and is the 72nd largest credit union in the state of Virginia. It is also the 2,883rd largest credit union in the nation. It was established in 1954 and as of December of 2013, it had grown to 13 employees and 7,399 members. Hampton Roads Educ Credit Union Inc has a C+ health rating.

Field of Membership Restrictions

Must be a student, employee or retiree from an educational service in the cities of Hampton, Poquoson or Williamsburg or the counties of James City, Gloucester, Mathews, Middlesex, Isle of Wight or Surry. Also open to employees of Thomas Nelson, New Horizons and the Municipal of Gloucester. - See Details

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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. Hampton Roads Educ Credit Union Inc has a low asset base.

Texas Ratio

GRADE:
B+

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 Hampton Roads Educ Credit Union Inc had $237,000 in non-current loans and owned real-estate with $1.99 million in equity and loan loss allowances on hand to cover it. This gives Hampton Roads Educ Credit Union Inc a Texas Ratio of 11.89% which is above average. Any bank with a Texas Ratio near or greater than 100% is considered at risk.

Texas Ratio Trend

GRADE:
C-

The Texas Ratio for Hampton Roads Educ Credit Union Inc increased slightly from 4.73% as of December 31, 2012 to 11.89% as of December 31, 2013, resulting in a negative change of 151.50%. This indicates that the balance sheet and financial strength for Hampton Roads Educ Credit Union Inc has declined slightly in recent periods.

Deposit Growth

GRADE:
B+

In the past year, Hampton Roads Educ Credit Union Inc has increased its total deposits by $420,000, resulting in 1.47% 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 Hampton Roads Educ Credit Union Inc 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. Hampton Roads Educ Credit Union Inc has $31.18 million in assets with $1.99 million in equity, resulting in a capitalization level of 6.40%, which is below average.

Institution Statistics

Overall
NCUA #66913
Year Chartered1954
Employees13
Primary Regulator
Assets and Liabilities
Assets$31.18 million
Loans$14.29 million
Deposits$28.96 million
Equity Capital$1.85 million
Loan Loss Allowance$141,000
Unbacked Noncurrent Loans$237,000
Real Estate Owned$0
Historic Data - December 2012
Assets$30.41 million
Equity Capital$1.43 million
Loan Loss Allowance$153,000
Unbacked Noncurrent Loans$237,000
Real Estate Owned$0
Profit Margin - Quarterly
Net Interest Margin8.4%
Return on Assets0.39%
Return on Equity6.64%
Interest Income$1.35 million
Rates
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Hampton Roads Educ Credit Union Inc Savings Account Rates

DetailsAPYMINMAXPRODUCT
0.05%$1k-Share Savings Account
0.05%--Youth Share Account
0.05%--Vacation Club Account
0.05%--Holiday Club Account

Hampton Roads Educ Credit Union Inc CD Rates

DetailsAPYMINMAXPRODUCT
0.10%--36 Month Share Certificate
Locations


Hampton Roads Educ Credit Union Inc Locations
Branch Office2130 Cunningham DrHampton, VA 23666