Norfolk Fire Department Credit Union

Norfolk Fire Department Credit Union is headquartered in Norfolk and is the 85^th largest credit union in the state of Virginia. It is also the 3,385^th largest credit union in the nation. It was established in 1940 and as of December of 2011, it had grown to 5 employees and 3,295 members. Norfolk Fire Department Credit Union's savings rates are 92% higher than the national average, and it has a 4-star health rating.

Norfolk Fire Department Credit Union Savings Account Rates

Norfolk Fire Department Credit Union Money Market Rates

Data for Q4 2011

Institution Statistics NORFOLK FIRE DEPARTMENT NCUA # 3746 BankRate Report View Year Chartered 1940 Employees 5 Primary Regulator Assets and Liabilities Assets $22.36 million Loans $12.20 million Deposits $20.01 million Equity Capital $2.24 million Loan Loss Allowance $735,000 Unbacked Noncurrent Loans $458,000 Historic Data - December 2010 Assets $22.82 million Equity Capital $2.05 million Loan Loss Allowance $758,000 Unbacked Noncurrent Loans $629,000 Profit Margin - Quarterly Net Interest Margin 7.54% Return on Assets 0.83% Return on Equity 8.3% Interest Income $1.14 million Non-Interest Income $261,000

Institution Health Overall Score: 4 out of 5 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, 2011 Norfolk Fire Department Credit Union had $458,000 in non-current loans and owned real-estate with $2.98 million in equity and loan loss allowances on hand to cover it. This gives Norfolk Fire Department Credit Union a Texas Ratio of 15.39% 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 Norfolk Fire Department Credit Union decreased slightly from 22.37% as of December 31, 2010 to 15.39% as of December 31, 2011, resulting in a positive change of 31.20%.This indicates that the balance sheet and financial strength for Norfolk Fire Department Credit Union has improved slightly in recent periods. Deposit Growth In the past year, Norfolk Fire Department Credit Union has decreased its total deposits by $-677,000, resulting in -3.27% 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 Norfolk Fire Department Credit Union has shown is below 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. Norfolk Fire Department Credit Union has $22.36 million in assets with $2.98 million in equity, resulting in a capitalization level of 13.31%, which is excellent.

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