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Overview / Commentary
804-452-2480
P.O. Box 449
Hopewell, VA 23860

Hopewell Chemical Credit Union is headquartered in Hopewell and is the 73rd largest credit union in the state of Virginia. It is also the 2,897th largest credit union in the nation. It was established in 1965 and as of December of 2013, it had grown to 9 employees and 4,715 members. Hopewell Chemical Credit Union has a B health rating.

Field of Membership Restrictions

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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. Hopewell Chemical Credit Union has a 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 Hopewell Chemical Credit Union had $201,000 in non-current loans and owned real-estate with $3.06 million in equity and loan loss allowances on hand to cover it. This gives Hopewell Chemical Credit Union a Texas Ratio of 6.57% 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 Hopewell Chemical Credit Union experienced no significant changes from 6.80% as of December 31, 2012 to 6.57% as of December 31, 2013, resulting in a positive change of 3.41%.This indicates that the balance sheet and financial strength for Hopewell Chemical Credit Union has had no significant changes in recent periods.

Deposit Growth

GRADE:
B+

In the past year, Hopewell Chemical Credit Union has increased its total deposits by $300,000, resulting in 1.11% 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 Hopewell Chemical Credit Union has shown is above average.

Capitalization

GRADE:
B

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. Hopewell Chemical Credit Union has $30.95 million in assets with $3.06 million in equity, resulting in a capitalization level of 9.88%, which is above average.

Institution Statistics

Overall
NCUA #16605
Year Chartered1965
Employees9
Primary Regulator
Assets and Liabilities
Assets$30.95 million
Loans$13.69 million
Deposits$27.26 million
Equity Capital$3.03 million
Loan Loss Allowance$27,000
Unbacked Noncurrent Loans$201,000
Real Estate Owned$0
Historic Data - December 2012
Assets$30.33 million
Equity Capital$2.99 million
Loan Loss Allowance$50,000
Unbacked Noncurrent Loans$201,000
Real Estate Owned$0
Profit Margin - Quarterly
Net Interest Margin5.39%
Return on Assets0.12%
Return on Equity1.25%
Interest Income$959,000
Rates
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Hopewell Chemical Credit Union Savings Account Rates

DetailsAPYMINMAXPRODUCT
0.30%$5k-Regular Share Account

Hopewell Chemical Credit Union CD Rates

DetailsAPYMINMAXPRODUCT
0.95%$1k-36 Month Share Certificate
0.70%$1k-24 Month Share Certificate
0.60%$1k-18 Month Share Certificate
0.55%$1k-12 Month Share Certificate
Locations


Hopewell Chemical Credit Union Locations
Branch Office3108 N Parham Rd Ste 402AHenrico, VA 23294
Branch Office702 Elm StHopewell, VA 23860
Branch Office2000 Jefferson Davis HwyRichmond, VA 23224
Branch Office3600 Discovery DrChester, VA 23836