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Overview / Commentary
1081 Hockman Pike
Bluefield, VA 24605

Joy Employees Credit Union is headquartered in Bluefield and is the 142nd largest credit union in the state of Virginia. It is also the 5,832nd largest credit union in the nation. It was established in 1969 and as of December of 2013, it had grown to 276 members. Joy Employees Credit Union has a C+ health rating.

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Health

Data for Q4 2013

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. Joy Employees Credit Union has a very low asset base.

Texas Ratio

GRADE:
B+

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 Joy Employees Credit Union had $40,000 in non-current loans and owned real-estate with $278,000 in equity and loan loss allowances on hand to cover it. This gives Joy Employees Credit Union a Texas Ratio of 14.39% which is above 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 Joy Employees Credit Union decreased slightly from 18.26% as of December 31, 2012 to 14.39% as of December 31, 2013, resulting in a positive change of 21.19%.This indicates that the balance sheet and financial strength for Joy Employees Credit Union has improved slightly in recent periods.

Deposit Growth

GRADE:
A+

In the past year, Joy Employees Credit Union has increased its total deposits by $401,000, resulting in 22.49% 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 Joy Employees Credit Union has shown is excellent.

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. Joy Employees Credit Union has $2.45 million in assets with $278,000 in equity, resulting in a capitalization level of 11.34%, which is excellent.

Institution Statistics

Overall
NCUA #19158
Year Chartered1969
Employees0
Primary Regulator
Assets and Liabilities
Assets$2.45 million
Loans$1.52 million
Deposits$2.18 million
Equity Capital$264,000
Loan Loss Allowance$14,000
Unbacked Noncurrent Loans$40,000
Real Estate Owned$0
Historic Data - December 2012
Assets$2.01 million
Equity Capital$220,000
Loan Loss Allowance$21,000
Unbacked Noncurrent Loans$40,000
Real Estate Owned$0
Profit Margin - Quarterly
Net Interest Margin6.06%
Return on Assets1.75%
Return on Equity16.29%
Interest Income$107,000
Rates

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Locations


Joy Employees Credit Union Locations
Branch Office1081 Hockman PikeBluefield, VA 24605