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Overview / Commentary
9401 W Broad St
Henrico, VA 23294

Henrico Credit Union is headquartered in Henrico and is the 30th largest credit union in the state of Virginia. It is also the 924th largest credit union in the nation. It was established in 1967 and as of March of 2014, it had grown to 68 employees and 28,046 members. Henrico Credit Union has a B+ health rating.

Field of Membership Restrictions

Must live, work, worship or attend school in Henrico County and the greater Richmond area. - See Details

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Health

Data for Q1 2014

Institution Health

B+

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 Henrico Credit Union had $862,000 in non-current loans and owned real-estate with $15.5 million in equity and loan loss allowances on hand to cover it. This gives Henrico Credit Union a Texas Ratio of 5.56% 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 Henrico Credit Union decreased dramatically from 9.96% as of March 31, 2013 to 5.56% as of March 31, 2014, resulting in a positive change of 44.13%.This indicates that the balance sheet and financial strength for Henrico Credit Union has improved dramatically in recent periods.

Deposit Growth

GRADE:
B

In the past year, Henrico Credit Union has increased its total deposits by $29,000, resulting in 0.02% 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 Henrico 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. Henrico Credit Union has $203.8 million in assets with $15.5 million in equity, resulting in a capitalization level of 7.60%, which is below average.

Institution Statistics

Overall
NCUA #18175
Year Chartered1967
Employees68
Primary Regulator
Assets and Liabilities
Assets$203.81 million
Loans$88.34 million
Deposits$187.61 million
Equity Capital$14.50 million
Loan Loss Allowance$997,000
Unbacked Noncurrent Loans$862,000
Real Estate Owned$0
Historic Data - March 2013
Assets$202.48 million
Equity Capital$13.50 million
Loan Loss Allowance$1.19 million
Unbacked Noncurrent Loans$862,000
Real Estate Owned$52,000
Profit Margin - Quarterly
Return on Assets0.32%
Return on Equity4.44%
Interest Income$1.40 million
Rates
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Henrico Credit Union Savings Account Rates

DetailsAPYMINMAXPRODUCT
0.15%$500- Share Saving Account
0.15%$500-Club Account

Henrico Credit Union Checking Account Rates

DetailsAPYMINMAXPRODUCT
0.35%$25k-Invest Checking Account
0.15%$5k-Select Checking Account

Henrico Credit Union CD Rates

DetailsAPYMINMAXPRODUCT
0.90%$5k-36 Month CD I10
0.70%$5k-24 Month CD I7
0.65%$1k-36 Month CD I11
0.50%$5k-12 Month CD I3
0.45%$1k-24 Month CD I8
0.40%$500-36 Month CD I12
0.30%$5k-6 Month CD I1
0.25%$1k-12 Month CD I4
0.20%$500-24 Month CD I9
0.05%$1k-6 Month CD I2

Henrico Credit Union IRA Rates

DetailsAPYMINMAXPRODUCT
0.05%$100-IRA Saving Account
Locations


Henrico Credit Union Locations
Branch Office1201 N Laburnum AveRichmond, VA 23223
Branch Office3820 Nine Mile RdRichmond, VA 23223
Branch Office7101 Jefferson Davis HwyNorth Chesterfield, VA 23237-1521
Branch Office10401 Woodman RdGlen Allen, VA 23060
Branch Office8611 Dixon Powers DrHenrico, VA 23228
Branch Office9401 W Broad StHenrico, VA 23294