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P.O. Box 201
Hopewell, VA 23860

Kraftsman Credit Union is headquartered in Hopewell and is the 106th largest credit union in the state of Virginia. It is also the 4,622nd largest credit union in the nation. It was established in 1961 and as of March of 2014, it had grown to 689 members. Kraftsman Credit Union has a C+ health rating.

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Data for Q1 2014

Institution Health

Additional Factors: Institutions with a small asset base or a short operating history can represent an instability risk beyond what their financial ratios indicate. Kraftsman Credit Union has a very low asset base.

Texas Ratio


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 Kraftsman Credit Union had $124,000 in non-current loans and owned real-estate with $1.38 million in equity and loan loss allowances on hand to cover it. This gives Kraftsman Credit Union a Texas Ratio of 8.95% which is excellent. Any bank with a Texas Ratio near or greater than 100% is considered at risk.

Texas Ratio Trend


The Texas Ratio for Kraftsman Credit Union decreased slightly from 10.12% as of March 31, 2013 to 8.95% as of March 31, 2014, resulting in a positive change of 11.55%.This indicates that the balance sheet and financial strength for Kraftsman Credit Union has improved slightly in recent periods.

Deposit Growth


In the past year, Kraftsman Credit Union has decreased its total deposits by $-53,000, resulting in -0.7% 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 Kraftsman Credit Union has shown is average.



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. Kraftsman Credit Union has $8.96 million in assets with $1.38 million in equity, resulting in a capitalization level of 15.46%, which is excellent.

Institution Statistics

NCUA #14185
Year Chartered1961
Primary Regulator
Assets and Liabilities
Assets$8.96 million
Loans$1.01 million
Deposits$7.57 million
Equity Capital$1.37 million
Loan Loss Allowance$13,000
Unbacked Noncurrent Loans$124,000
Real Estate Owned$0
Historic Data - March 2013
Assets$9.02 million
Equity Capital$1.37 million
Loan Loss Allowance$21,000
Unbacked Noncurrent Loans$124,000
Real Estate Owned$0
Profit Margin - Quarterly
Net Interest Margin1.81%
Return on Assets-0.4%
Return on Equity-2.62%
Interest Income$38,000

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Kraftsman Credit Union Locations
Branch Office910 Industrial StHopewell, VA 23860