Heritagewest Credit Union

P.O. Box 720
Tooele, UT 84074
435-833-7200
www.heritagewestcu.com

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Heritagewest Credit Union is headquartered in Virginia Beach and is the 5^th largest credit union in the state of Virginia. It is also the 67^th largest credit union in the nation. It was established in 1959 and as of December of 2011, it had grown to 559 employees and 223,838 members. Heritagewest Credit Union's savings rates are 25% higher than the national average, and it has a 3-star health rating.

Top 5-Year CD & IRA CD Rate Continues at HeritageWest Credit Union in Utah - Local Only - 11/5/2010

HeritageWest Credit Union continues to offer a good deal on its 5-year CD and IRA CD. The rates have fallen a little since my August review, but they remain very competitive. The yield is 3.00% APY fo ...

3.15% 5-Year Jumbo CD At Heritagewest Credit Union In Utah (Forum) - 10/12/2010

They're still offering a very competitive 5-year CD and IRA CD (as of 10/12/2010): 3.15% APY 5-year Jumbo CD $100K minimum 3.00% APY 5-year CD $500 minimum I last reported on these CDs in August. Please refer to that HeritageWest CD review for info

Competitive 5-Year CD & IRA CD Rate at HeritageWest Credit Union in Utah - Local Only - 8/24/2010

HeritageWest Credit Union is offering competitive rates on its 5-year CD and IRA CD. The yield is 3.03% APY for a minimum of $500 and 3.18% APY for a minimum of $100,000. The rates for the shorter ter ...

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See Rates for: Checking | Savings | CD | IRA

Heritagewest Credit Union Checking Account Rates

Apy	Min	Max	Product
0.60%	$100k	-	High Yield Checking
0.15%	$2k	-	Premier Checking
0.00%	-	-	Basic Checking
0.00%	-	-	Green Checking

Heritagewest Credit Union Savings Account Rates

Apy	Min	Max	Product
0.65%	$250k	-	High Yield Savings
0.50%	-	-	IRA Savings
0.50%	$100k	-	Premier Savings Account
0.15%	-	-	Share Savings
0.15%	-	-	Budget Savings

Heritagewest Credit Union CD Rates

Apy	Min	Max	Product
1.51%	$500	-	5 Year CD
1.51%	$100	-	5 Year Youth Saver CD
0.85%	$500	-	3 Year CD
0.85%	$100	-	3 Year Youth Saver CD
0.50%	$500	-	2 Year CD
0.50%	$100	-	2 Year Youth Saver CD
0.45%	$500	-	18 Month CD
0.45%	$100	-	18 Month Youth Saver CD
0.30%	$500	-	12 Month CD
0.30%	$100	-	12 Month Youth Saver CD
0.20%	$500	-	6 Month CD
0.20%	$100	-	6 Month Youth Saver CD

Heritagewest Credit Union IRA Rates

Apy	Min	Max	Product
1.51%	$500	-	5 Year IRA
1.51%	$100	-	5 Year Youth Saver IRA
0.85%	$500	-	3 Year IRA
0.85%	$100	-	3 Year Youth Saver IRA
0.50%	$500	-	2 Year IRA
0.50%	$100	-	2 Year Youth Saver IRA
0.45%	$500	-	18 Month IRA
0.45%	$100	-	18 Month Youth Saver IRA
0.30%	$500	-	12 Month IRA
0.30%	$100	-	12 Month Youth Saver IRA
0.20%	$500	-	6 Month IRA
0.20%	$100	-	6 Month Youth Saver IRA

Rates updated: 5/25/2012

Data for Q4 2011

Institution Statistics

CHARTWAY
NCUA #	13242
BankRate Report	View
Year Chartered	1959
Employees	559
Primary Regulator
Assets and Liabilities
Assets	$1.91 billion
Loans	$1.02 billion
Deposits	$1.76 billion
Equity Capital	$130.24 million
Loan Loss Allowance	$12.02 million
Unbacked Noncurrent Loans	$20.03 million
Real Estate Owned	$6.53 million
Historic Data - December 2010
Assets	$1.77 billion
Equity Capital	$123.33 million
Loan Loss Allowance	$10.75 million
Unbacked Noncurrent Loans	$7.98 million
Real Estate Owned	$6.45 million
Profit Margin - Quarterly
Net Interest Margin	5.23%
Return on Assets	0.36%
Return on Equity	5.21%
Interest Income	$66.03 million
Non-Interest Income	$24.06 million

Institution Health

Overall Score:

3 out of 5

Texas Ratio
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, 2011 Heritagewest Credit Union had $26.56 million in non-current loans and owned real-estate with $142.26 million in equity and loan loss allowances on hand to cover it. This gives Heritagewest Credit Union a Texas Ratio of 18.67% which is average. Any bank with a Texas Ratio near or greater than 100% is considered at risk.
Texas Ratio Trend
The Texas Ratio for Heritagewest Credit Union increased slightly from 10.76% as of December 31, 2010 to 18.67% as of December 31, 2011, resulting in a negative change of 73.56%. This indicates that the balance sheet and financial strength for Heritagewest Credit Union has declined slightly in recent periods.
Deposit Growth
In the past year, Heritagewest Credit Union has increased its total deposits by $132.34 million, resulting in 8.15% 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 Heritagewest Credit Union has shown is excellent.
Capitalization
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. Heritagewest Credit Union has $1.91 billion in assets with $142.26 million in equity, resulting in a capitalization level of 7.47%, which is below average.