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Lynchburg Municipal Employees Credit Union

Lynchburg Municipal Employees Credit Union
Overview / Commentary
434-845-1013
3176 Fort Ave
Lynchburg, VA 24501

Lynchburg Municipal Employees Credit Union is headquartered in Lynchburg and is the 84th largest credit union in the state of Virginia. It is also the 3,478th largest credit union in the nation. It was established in 1961 and as of March of 2014, it had grown to 7 employees and 3,622 members. Lynchburg Municipal Employees Credit Union has a B+ health rating.

Field of Membership Restrictions

The field of membership of this credit union is limited to those employed by one of our listed Select Employee Groups. Membership is also available to: spouses of persons who died while within the field of membership of this credit union; employees of this credit union; persons retired as pensioners or annuitants from the above employment; members of their immediate families or households; and organizations of such persons. - See Details

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Health

Data for Q1 2014

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. Lynchburg Municipal Employees Credit Union has a low asset base.

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 Lynchburg Municipal Employees Credit Union had $0 in non-current loans and owned real-estate with $3.52 million in equity and loan loss allowances on hand to cover it. This gives Lynchburg Municipal Employees Credit Union a Texas Ratio of 0.00% which is excellent. Any bank with a Texas Ratio near or greater than 100% is considered at risk.

Deposit Growth

GRADE:
B+

In the past year, Lynchburg Municipal Employees Credit Union has increased its total deposits by $384,000, resulting in 2.28% 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 Lynchburg Municipal Employees 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. Lynchburg Municipal Employees Credit Union has $20.79 million in assets with $3.52 million in equity, resulting in a capitalization level of 16.92%, which is excellent.

Institution Statistics

Overall
NCUA #14623
Year Chartered1961
Employees7
Primary Regulator
Assets and Liabilities
Assets$20.79 million
Loans$7.77 million
Deposits$17.21 million
Equity Capital$3.50 million
Loan Loss Allowance$18,000
Real Estate Owned$0
Historic Data - March 2013
Assets$20.23 million
Equity Capital$3.35 million
Loan Loss Allowance$6,000
Real Estate Owned$0
Profit Margin - Quarterly
Net Interest Margin2.14%
Return on Assets0.9%
Return on Equity5.37%
Interest Income$179,000
Rates

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Locations


Lynchburg Municipal Employees Credit Union Locations
Branch Office3176 Fort AveLynchburg, VA 24501