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Overview / Commentary
800-526-5242
201 Ohio Ave
Charleston, WV 25302-2209

Members Choice Wv Credit Union is headquartered in Charleston and is the 9th largest credit union in the state of West Virginia. It is also the 1,650th largest credit union in the nation. It was established in 1942 and as of March of 2014, it had grown to 12 employees and 7,136 members. Members Choice Wv Credit Union's savings rates are 83% higher than the national average, and it has a A health rating.

Field of Membership Restrictions

Must live, work, worship, volunteer or attend school in Kanawha County, West Virginia. - See Details

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Health

Data for Q1 2014

Institution Health

A
Additional Factors: Institutions with a small asset base or a short operating history can represent an instability risk beyond what their financial ratios indicate. Members Choice Wv Credit Union has a relatively 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 Members Choice Wv Credit Union had $261,000 in non-current loans and owned real-estate with $14.14 million in equity and loan loss allowances on hand to cover it. This gives Members Choice Wv Credit Union a Texas Ratio of 1.85% 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 Members Choice Wv Credit Union experienced no significant changes from 1.89% as of March 31, 2013 to 1.85% as of March 31, 2014, resulting in a positive change of 2.40%.This indicates that the balance sheet and financial strength for Members Choice Wv Credit Union has had no significant changes in recent periods.

Deposit Growth

GRADE:
C+

In the past year, Members Choice Wv Credit Union has decreased its total deposits by $-482,000, resulting in -0.65% 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 Members Choice Wv Credit Union has shown is 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. Members Choice Wv Credit Union has $87.83 million in assets with $14.14 million in equity, resulting in a capitalization level of 16.10%, which is excellent.

Institution Statistics

Overall
NCUA #4969
Year Chartered1942
Employees12
Primary Regulator
Assets and Liabilities
Assets$87.83 million
Loans$28.07 million
Deposits$73.47 million
Equity Capital$14.01 million
Loan Loss Allowance$133,000
Unbacked Noncurrent Loans$261,000
Real Estate Owned$0
Historic Data - March 2013
Assets$87.69 million
Equity Capital$13.28 million
Loan Loss Allowance$199,000
Unbacked Noncurrent Loans$261,000
Real Estate Owned$24,000
Profit Margin - Quarterly
Net Interest Margin1.12%
Return on Assets0.71%
Return on Equity4.43%
Interest Income$494,000
Rates
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Members Choice Wv Credit Union Savings Account Rates

DetailsAPYMINMAXPRODUCT
0.95%--IRA Savings Account
0.95%--Roth IRA Savings Account
0.95%--Education Savings Account
0.30%$20k-Regular Share Account

Members Choice Wv Credit Union Checking Account Rates

DetailsAPYMINMAXPRODUCT
0.05%$1k-Checking Account

Members Choice Wv Credit Union CD Rates

DetailsAPYMINMAXPRODUCT
0.55%$1k-24 Month Share Certificate
0.25%$1k-12 Month Share Certificate
0.20%$1k-6 Month Share Certificate

Members Choice Wv Credit Union IRA Rates

DetailsAPYMINMAXPRODUCT
0.55%$1k-2 Year IRA Certificate
0.25%$1k-1 Year IRA Certificate
0.20%$1k-6 Month IRA Certificate
Locations


Members Choice Wv Credit Union Locations
Branch Office201 Ohio AveCharleston, WV 25302-2209