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800-588-3279
721 Lakefront Cmns Ste 400
Newport News, VA 23606

Langley Credit Union is headquartered in Newport News and is the 7th largest credit union in the state of Virginia. It is also the 97th largest credit union in the nation. It was established in 1936 and as of March of 2014, it had grown to 434 employees and 190,804 members. Langley Credit Union's savings rates are 94% higher than the national average, and it has a A health rating.

Field of Membership Restrictions

Must live, work, worship or attend school in Hampton, Newport News, Norfolk, Virginia Beach or Williamsburg. Also open to employees or members of participating companies or organizations. - See Details

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Health

Data for Q1 2014

Institution Health

A

Texas Ratio

GRADE:
A+

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 Langley Credit Union had $11.18 million in non-current loans and owned real-estate with $230.43 million in equity and loan loss allowances on hand to cover it. This gives Langley Credit Union a Texas Ratio of 4.85% 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 Langley Credit Union experienced no significant changes from 3.21% as of March 31, 2013 to 4.85% as of March 31, 2014, resulting in a negative change of 50.98%. This indicates that the balance sheet and financial strength for Langley Credit Union has had no significant changes in recent periods.

Deposit Growth

GRADE:
B

In the past year, Langley Credit Union has increased its total deposits by $4.59 million, resulting in 0.3% 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 Langley Credit Union has shown is above average.

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. Langley Credit Union has $1.87 billion in assets with $230.43 million in equity, resulting in a capitalization level of 12.32%, which is excellent.

Institution Statistics

Overall
NCUA #1261
Year Chartered1936
Employees434
Primary Regulator
Assets and Liabilities
Assets$1.87 billion
Loans$1.03 billion
Deposits$1.53 billion
Equity Capital$218.05 million
Loan Loss Allowance$12.38 million
Unbacked Noncurrent Loans$11.12 million
Real Estate Owned$60,000
Historic Data - March 2013
Assets$1.77 billion
Equity Capital$217.22 million
Loan Loss Allowance$9.77 million
Unbacked Noncurrent Loans$11.12 million
Real Estate Owned$0
Profit Margin - Quarterly
Net Interest Margin1.2%
Return on Assets0.37%
Return on Equity3.17%
Interest Income$14.40 million
Rates
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Langley Credit Union Savings Account Rates

DetailsAPYMINMAXPRODUCT
1.01%-$500Langley Save
0.25%$100-Flex IRA
0.15%$25k-Super Share Saving
0.05%$100-Prime Share Saving

Langley Credit Union Checking Account Rates

DetailsAPYMINMAXPRODUCT
0.05%$2,500-Smart Checking +

Langley Credit Union CD Rates

DetailsAPYMINMAXPRODUCT
1.31%$100k-60 Month CD
0.75%$100k-30 Month CD
0.60%$100k-18 Month CD
0.55%$100k-12 Month CD
0.30%$50k-6 Month CD
0.20%$1k-3 Month CD
0.20%$50k-1 Month CD

Langley Credit Union IRA Rates

DetailsAPYMINMAXPRODUCT
1.31%$500-60 Month Traditional IRA
0.75%$500-30 Month Traditional IRA
0.60%$500-18 Month Traditional IRA
0.55%$500-12 Month Traditional IRA
Locations

Langley Credit Union has 19 locations. Click to view all Langley Credit Union locations.