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Overview / Commentary
800-827-6928
4920 Haygood Rd
Virginia Beach, VA 23455

Nma Credit Union is headquartered in Virginia Beach and is the 63rd largest credit union in the state of Virginia. It is also the 2,141st largest credit union in the nation. It was established in 1960 and as of March of 2014, it had grown to 20 employees and 7,552 members. Nma Credit Union has a B health rating.

Field of Membership Restrictions

Must work, live, worship or go to school in Norfolk or Virginia Beach. Also open to those who are connected with the former Navy Public Works Center, the military or employees of several private companies. - See Details

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Health

Data for Q1 2014

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. Nma 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 Nma Credit Union had $307,000 in non-current loans and owned real-estate with $5.11 million in equity and loan loss allowances on hand to cover it. This gives Nma Credit Union a Texas Ratio of 6.01% which is excellent. Any bank with a Texas Ratio near or greater than 100% is considered at risk.

Texas Ratio Trend

GRADE:
B+

The Texas Ratio for Nma Credit Union decreased slightly from 8.57% as of March 31, 2013 to 6.01% as of March 31, 2014, resulting in a positive change of 29.96%.This indicates that the balance sheet and financial strength for Nma Credit Union has improved slightly in recent periods.

Deposit Growth

GRADE:
C

In the past year, Nma Credit Union has decreased its total deposits by $-584,000, resulting in -1.09% 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 Nma Credit Union has shown is 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. Nma Credit Union has $58.06 million in assets with $5.11 million in equity, resulting in a capitalization level of 8.80%, which is average.

Institution Statistics

Overall
NCUA #13491
Year Chartered1960
Employees20
Primary Regulator
Assets and Liabilities
Assets$58.06 million
Loans$32.84 million
Deposits$53.18 million
Equity Capital$4.79 million
Loan Loss Allowance$320,000
Unbacked Noncurrent Loans$307,000
Real Estate Owned$0
Historic Data - March 2013
Assets$59.11 million
Equity Capital$5.23 million
Loan Loss Allowance$377,000
Unbacked Noncurrent Loans$307,000
Real Estate Owned$0
Profit Margin - Quarterly
Net Interest Margin1.32%
Return on Assets0.15%
Return on Equity1.84%
Interest Income$566,000
Rates

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Nma Credit Union Savings Account Rates

DetailsAPYMINMAXPRODUCT
0.25%$25-IRA Share Account
0.10%--Youth Account
0.05%$2,500-Share Account
0.05%$250-Christmas Club Account
0.05%$250-Vacation Club Account

Nma Credit Union Money Market Rates

DetailsAPYMINMAXPRODUCT
0.30%$100k-Maxi Shares Money Market Account

Nma Credit Union Checking Account Rates

DetailsAPYMINMAXPRODUCT
0.15%$100k-Premier Checking
0.03%$2,500-Share Draft Checking Account

Nma Credit Union CD Rates

DetailsAPYMINMAXPRODUCT
1.55%$10k-60 Month Share Certificate
1.05%$10k-36 Month Share Certificate
0.60%$10k-24 Month Share Certificate
0.40%$10k-12 Month Share Certificate

Nma Credit Union IRA Rates

DetailsAPYMINMAXPRODUCT
1.55%$10k-60 Month IRA Certificate
1.05%$10k-36 Month IRA Certificate
0.60%$10k-24 Month IRA Certificate
0.40%$10k-12 Month IRA Certificate
Locations


Nma Credit Union Locations
Branch Office4920 Haygood RdVirginia Beach, VA 23455
Branch Office5300 Kempsriver Dr Ste 100Virginia Beach, VA 23464
Branch Office4376 Lankford HwyExmore, VA 23350
Branch Office239 Mason AveCape Charles, VA 23310
Branch OfficePO Box 1422Parksley, VA 23421