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Overview / Commentary
31 S Carlton St
Harrisonburg, VA 22801

Mosaic Credit Union is headquartered in Harrisonburg and is the 96th largest credit union in the state of Virginia. It is also the 4,105th largest credit union in the nation. It was established in 1986 and as of December of 2013, it had grown to 7 employees and 3,761 members. Mosaic Credit Union's CD rates are 11% higher than the national average, but it has a C health rating.

Field of Membership Restrictions

Must live, work, worship or attend school in Harrisonburg. Also open to employees of Pilgrim's Pride Corporation, Virginia Poultry Growers Coop, Bowman Apple Products, May Supply and Valley Custom Homes. - See Details

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Data for Q4 2013

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. Mosaic Credit Union has a low asset base.

Texas Ratio


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 Mosaic Credit Union had $293,000 in non-current loans and owned real-estate with $1.02 million in equity and loan loss allowances on hand to cover it. This gives Mosaic Credit Union a Texas Ratio of 28.78% which is average. Any bank with a Texas Ratio near or greater than 100% is considered at risk.

Texas Ratio Trend


The Texas Ratio for Mosaic Credit Union experienced no significant changes from 27.91% as of December 31, 2012 to 28.78% as of December 31, 2013, resulting in a negative change of 3.11%. This indicates that the balance sheet and financial strength for Mosaic Credit Union has had no significant changes in recent periods.

Deposit Growth


In the past year, Mosaic Credit Union has increased its total deposits by $1.48 million, resulting in 13.88% 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 Mosaic Credit Union has shown is excellent.



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. Mosaic Credit Union has $13.06 million in assets with $1.02 million in equity, resulting in a capitalization level of 7.79%, which is below average.

Institution Statistics

NCUA #24281
Year Chartered1986
Primary Regulator
Assets and Liabilities
Assets$13.06 million
Loans$8.52 million
Deposits$12.10 million
Equity Capital$950,000
Loan Loss Allowance$68,000
Unbacked Noncurrent Loans$293,000
Real Estate Owned$0
Historic Data - December 2012
Assets$11.58 million
Equity Capital$939,000
Loan Loss Allowance$82,000
Unbacked Noncurrent Loans$293,000
Real Estate Owned$0
Profit Margin - Quarterly
Net Interest Margin7.72%
Return on Assets0.08%
Return on Equity1.16%
Interest Income$764,000
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Mosaic Credit Union Savings Account Rates

0.25%$25-Regular Share Account
0.15%--Christmas Club Account
0.15%--Vacation Club Account

Mosaic Credit Union CD Rates

1.00%$1k-1 Year CD
0.90%$1k-6 Month CD

Mosaic Credit Union Locations
Branch Office31 S Carlton StHarrisonburg, VA 22801-4324