Mountain Heritage Credit Union
Mountain Heritage Credit Union is headquartered in Parkersburg and is the 25th largest credit union in the state of West Virginia. It is also the 2,955th largest credit union in the nation. It was established in 1958 and as of December of 2013, it had grown to 11 employees and 5,251 members. Mountain Heritage Credit Union's savings rates are 44% higher than the national average, and it has a B health rating.
Field of Membership Restrictions
Must be an employee of the Parkersburg District of the Internal Revenue Service or other select companies and organizations. Also open to those who live, work, worship or attend school in the underserved area of Wood County, West Virginia. - See Details
Data for Q4 2013
Institution Health
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 Mountain Heritage Credit Union had $184,000 in non-current loans and owned real-estate with $2.66 million in equity and loan loss allowances on hand to cover it. This gives Mountain Heritage Credit Union a Texas Ratio of 6.92% which is excellent. Any bank with a Texas Ratio near or greater than 100% is considered at risk.
Texas Ratio Trend
The Texas Ratio for Mountain Heritage Credit Union decreased slightly from 9.46% as of December 31, 2012 to 6.92% as of December 31, 2013, resulting in a positive change of 26.84%.This indicates that the balance sheet and financial strength for Mountain Heritage Credit Union has improved slightly in recent periods.
Deposit Growth
In the past year, Mountain Heritage Credit Union has decreased its total deposits by $-114,000, resulting in -0.43% 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 Heritage Credit Union has shown is average.
Capitalization
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 Heritage Credit Union has $29.64 million in assets with $2.66 million in equity, resulting in a capitalization level of 8.97%, which is average.
Institution Statistics
| Overall | |
|---|---|
| NCUA # | 12470 |
| Year Chartered | 1958 |
| Employees | 11 |
| Primary Regulator |
| Assets and Liabilities | |
|---|---|
| Assets | $29.64 million |
| Loans | $17.06 million |
| Deposits | $26.62 million |
| Equity Capital | $2.47 million |
| Loan Loss Allowance | $190,000 |
| Unbacked Noncurrent Loans | $184,000 |
| Real Estate Owned | $0 |
| Historic Data - December 2012 | |
|---|---|
| Assets | $29.13 million |
| Equity Capital | $2.28 million |
| Loan Loss Allowance | $244,000 |
| Unbacked Noncurrent Loans | $184,000 |
| Real Estate Owned | $0 |
| Profit Margin - Quarterly | |
|---|---|
| Net Interest Margin | 5.39% |
| Return on Assets | 0.62% |
| Return on Equity | 7.46% |
| Interest Income | $1.09 million |
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Mountain Heritage Credit Union Savings Account Rates
| Details | APY | MIN | MAX | PRODUCT |
|---|---|---|---|---|
| 0.75% | - | - | IRA Savings Account | |
| 0.35% | - | - | Christmas Club Account | |
| 0.35% | - | - | Vacation Club Account | |
| 0.05% | - | - | Share Account |
Mountain Heritage Credit Union Money Market Rates
| Details | APY | MIN | MAX | PRODUCT |
|---|---|---|---|---|
| 0.50% | $10k | - | Money Market Account |
Mountain Heritage Credit Union CD Rates
| Details | APY | MIN | MAX | PRODUCT |
|---|---|---|---|---|
| 1.06% | $500 | - | 60 Month CD | |
| 1.00% | $500 | - | 48 Month CD | |
| 0.90% | $500 | - | 36 Month CD | |
| 0.75% | $500 | - | 24 Month CD | |
| 0.45% | $500 | - | 12 Month CD | |
| 0.40% | $500 | - | 6 Month CD |
Mountain Heritage Credit Union IRA Rates
| Details | APY | MIN | MAX | PRODUCT |
|---|---|---|---|---|
| 1.06% | $500 | - | 60 Month IRA CD | |
| 1.00% | $500 | - | 48 Month IRA CD | |
| 0.90% | $500 | - | 36 Month IRA CD | |
| 0.75% | $500 | - | 24 Month IRA CD | |
| 0.45% | $500 | - | 12 Month IRA CD | |
| 0.40% | $500 | - | 6 Month IRA CD |
| Mountain Heritage Credit Union Locations | ||
|---|---|---|
| Branch Office | 1822 7th St | Parkersburg, WV 26101 |
| Branch Office | 425 Juliana St | Parkersburg, WV 26101 |
| Branch Office | 110 N Heber St | Beckley, WV 25801 |
| Branch Office | 250 Murall Dr | Kearneysville, WV 25430 |