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Harrison County Credit Union

Harrison County Credit Union
Overview / Commentary
304-622-3780
315 Buckhannon Pike
Nutter Fort, WV 26301

Harrison County Credit Union is headquartered in Nutter Fort and is the 42nd largest credit union in the state of West Virginia. It is also the 4,006th largest credit union in the nation. It was established in 1967 and as of March of 2014, it had grown to 2 employees and 2,571 members. Harrison County Credit Union has a B+ health rating.

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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. Harrison County 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 Harrison County Credit Union had $36,000 in non-current loans and owned real-estate with $2.42 million in equity and loan loss allowances on hand to cover it. This gives Harrison County Credit Union a Texas Ratio of 1.48% which is excellent. Any bank with a Texas Ratio near or greater than 100% is considered at risk.

Texas Ratio Trend

GRADE:
C+

The Texas Ratio for Harrison County Credit Union experienced no significant changes from 0.57% as of March 31, 2013 to 1.48% as of March 31, 2014, resulting in a negative change of 158.31%. This indicates that the balance sheet and financial strength for Harrison County Credit Union has had no significant changes in recent periods.

Deposit Growth

GRADE:
B+

In the past year, Harrison County Credit Union has increased its total deposits by $124,000, resulting in 1.06% 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 Harrison County Credit Union has shown is above average.

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. Harrison County Credit Union has $14.27 million in assets with $2.42 million in equity, resulting in a capitalization level of 17.00%, which is excellent.

Institution Statistics

Overall
NCUA #18254
Year Chartered1967
Employees2
Primary Regulator
Assets and Liabilities
Assets$14.27 million
Loans$3.81 million
Deposits$11.87 million
Equity Capital$2.40 million
Loan Loss Allowance$30,000
Unbacked Noncurrent Loans$36,000
Real Estate Owned$0
Historic Data - March 2013
Assets$14.16 million
Equity Capital$2.41 million
Loan Loss Allowance$28,000
Unbacked Noncurrent Loans$36,000
Real Estate Owned$0
Profit Margin - Quarterly
Net Interest Margin1.18%
Return on Assets0.06%
Return on Equity0.33%
Interest Income$69,000
Rates

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Locations


Harrison County Credit Union Locations
Branch Office315 Buckhannon PikeNutter Fort, WV 26301