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Overview / Commentary
1413 N Main St-++
Marion, VA 24354

Mountain Empire Credit Union is headquartered in MARION and is the 92nd largest credit union in the state of Virginia. It is also the 3,899th largest credit union in the nation. It was established in 1952 and as of December of 2013, it had grown to 7 employees and 4,626 members. Mountain Empire Credit Union has a B health rating.

Field of Membership Restrictions

Must live, work, worship or attend school in Smythe, Wythe or Washington County. - See Details

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Health

Data for Q4 2013

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. Mountain Empire Credit Union has a low asset base.

Texas Ratio

GRADE:
A+

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 Mountain Empire Credit Union had $54,000 in non-current loans and owned real-estate with $1.43 million in equity and loan loss allowances on hand to cover it. This gives Mountain Empire Credit Union a Texas Ratio of 3.78% which is excellent. Any bank with a Texas Ratio near or greater than 100% is considered at risk.

Texas Ratio Trend

GRADE:
A+

The Texas Ratio for Mountain Empire Credit Union decreased dramatically from 9.63% as of December 31, 2012 to 3.78% as of December 31, 2013, resulting in a positive change of 60.75%.This indicates that the balance sheet and financial strength for Mountain Empire Credit Union has improved dramatically in recent periods.

Deposit Growth

GRADE:
B

In the past year, Mountain Empire Credit Union has increased its total deposits by $86,000, resulting in 0.63% 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 Mountain Empire Credit Union has shown is above average.

Capitalization

GRADE:
C+

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. Mountain Empire Credit Union has $15.1 million in assets with $1.43 million in equity, resulting in a capitalization level of 9.46%, which is average.

Institution Statistics

Overall
NCUA #8197
Year Chartered1952
Employees7
Primary Regulator
Assets and Liabilities
Assets$15.10 million
Loans$9.71 million
Deposits$13.71 million
Equity Capital$1.26 million
Loan Loss Allowance$169,000
Unbacked Noncurrent Loans$54,000
Real Estate Owned$0
Historic Data - December 2012
Assets$15.02 million
Equity Capital$1.29 million
Loan Loss Allowance$218,000
Unbacked Noncurrent Loans$54,000
Real Estate Owned$0
Profit Margin - Quarterly
Net Interest Margin7%
Return on Assets-0.19%
Return on Equity-2.22%
Interest Income$704,000
Rates

Sorry, we do not have rate data for Mountain Empire Credit Union

Locations


Mountain Empire Credit Union Locations
Branch Office775 W MAIN ST STE 1WYTHEVILLE, VA 24382-2265
Branch Office1413 N MAIN STMARION, VA 24354-4315