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Overview / Commentary
828 Providence Rd
Chesapeake, VA 23325

Ibew Local Union 80 Credit Union is headquartered in Chesapeake and is the 154th largest credit union in the state of Virginia. It is also the 6,148th largest credit union in the nation. It was established in 1970 and as of March of 2014, it had grown to 1 employees and 704 members. Ibew Local Union 80 Credit Union has a C- health rating.

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Health

Data for Q1 2014

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. Ibew Local Union 80 Credit Union has a very low asset base.

Texas Ratio

GRADE:
C+

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 Ibew Local Union 80 Credit Union had $29,000 in non-current loans and owned real-estate with $106,000 in equity and loan loss allowances on hand to cover it. This gives Ibew Local Union 80 Credit Union a Texas Ratio of 27.36% which is average. Any bank with a Texas Ratio near or greater than 100% is considered at risk.

Texas Ratio Trend

GRADE:
B+

The Texas Ratio for Ibew Local Union 80 Credit Union decreased slightly from 38.32% as of March 31, 2013 to 27.36% as of March 31, 2014, resulting in a positive change of 28.60%.This indicates that the balance sheet and financial strength for Ibew Local Union 80 Credit Union has improved slightly in recent periods.

Deposit Growth

GRADE:
C-

In the past year, Ibew Local Union 80 Credit Union has decreased its total deposits by $-48,000, resulting in -4.26% 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 Ibew Local Union 80 Credit Union has shown is below 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. Ibew Local Union 80 Credit Union has $1.17 million in assets with $106,000 in equity, resulting in a capitalization level of 9.05%, which is average.

Institution Statistics

Overall
NCUA #20004
Year Chartered1970
Employees1
Primary Regulator
Assets and Liabilities
Assets$1.17 million
Loans$401,000
Deposits$1.08 million
Equity Capital$92,000
Loan Loss Allowance$14,000
Unbacked Noncurrent Loans$29,000
Real Estate Owned$0
Historic Data - March 2013
Assets$1.22 million
Equity Capital$91,000
Loan Loss Allowance$16,000
Unbacked Noncurrent Loans$29,000
Real Estate Owned$0
Profit Margin - Quarterly
Net Interest Margin2.99%
Return on Assets1.37%
Return on Equity17.39%
Interest Income$12,000
Rates

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Locations


Ibew Local Union 80 Credit Union Locations
Branch Office828 Providence RdChesapeake, VA 233254012