New Generations Federal Credit Union is headquartered in Richmond and is the 58th largest credit union in the state of Virginia. It is also the 2,042nd largest credit union in the nation. It was established in 1950 and as of December of 2013, it had grown to 40 employees and 13,876 members. New Generations Federal Credit Union has a B+ health rating.
Persons who live, work (or regularly conduct business), worship, attend school, or volunteer in, and businesses and other legal entities located in the City of Richmond, VA, are eligible for membership at New Generations FCU. - See Details
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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 New Generations Federal Credit Union had $507,000 in non-current loans and owned real-estate with $6.71 million in equity and loan loss allowances on hand to cover it. This gives New Generations Federal Credit Union a Texas Ratio of 7.55% which is excellent. Any bank with a Texas Ratio near or greater than 100% is considered at risk.
The Texas Ratio for New Generations Federal Credit Union decreased dramatically from 12.44% as of December 31, 2012 to 7.55% as of December 31, 2013, resulting in a positive change of 39.25%.This indicates that the balance sheet and financial strength for New Generations Federal Credit Union has improved dramatically in recent periods.
In the past year, New Generations Federal Credit Union has decreased its total deposits by -$3.24 million, resulting in -5.62% 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 New Generations Federal Credit Union has shown is below average.
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. New Generations Federal Credit Union has $60.91 million in assets with $6.71 million in equity, resulting in a capitalization level of 11.02%, which is excellent.
|Assets and Liabilities|
|Equity Capital||$6.28 million|
|Loan Loss Allowance||$427,000|
|Unbacked Noncurrent Loans||$413,000|
|Real Estate Owned||$94,000|
|Historic Data - December 2012|
|Equity Capital||$7.06 million|
|Loan Loss Allowance||$470,000|
|Unbacked Noncurrent Loans||$413,000|
|Real Estate Owned||$190,000|
|Profit Margin - Quarterly|
|Net Interest Margin||5.12%|
|Return on Assets||-1.01%|
|Return on Equity||-9.8%|
|Interest Income||$2.12 million|
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|0.25%||-||-||IRA Share Savings|
|0.35%||$100k||-||Super Money Market|
|1.00%||$1k||-||5 Year Share Certificate|
|0.70%||$1k||-||3 Year Share Certificate|
|0.55%||$1k||-||2 Year Share Certificate|
|0.40%||$1k||-||1 Year Share Certificate|
|0.20%||$1k||-||6 Month Share Certificate|
|0.05%||$1k||-||90 Day Share Certificate|
|1.00%||$1k||-||5 Year IRA Share Certificate|
|0.70%||$1k||-||3 Year IRA Share Certificate|
|0.55%||$1k||-||2 Year IRA Share Certificate|
|0.40%||$1k||-||1 Year IRA Share Certificate|
|0.20%||$1k||-||6 Month IRA Share Certificate|
|0.05%||$1k||-||90 Day IRA Share Certificate|
|New Generations Federal Credit Union Locations|
|Branch Office||1700 Robin Hood Rd||Richmond, VA 23220|
|Branch Office||City Hall 900 E Broad St||Richmond, VA 23219-1907|
|Branch Office||801 Branchway Rd||North Chesterfield, VA 23236-3903|
|Branch Office||141 E Belt Blvd||Richmond, VA 23224|
|Branch Office||4251 Old Brook Rd||Richmond, VA 23227|