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JANAF Office Bldg Suite 513 5900 E Virginia Beach Blvd
Norfolk, VA 23502

Norfolk Schools Credit Union is headquartered in Norfolk and is the 133rd largest credit union in the state of Virginia. It is also the 5,661st largest credit union in the nation. It was established in 1936 and as of March of 2014, it had grown to 2 employees and 957 members. Norfolk Schools Credit Union has a C health rating.

Field of Membership Restrictions

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Data for Q1 2014

Institution Health

Additional Factors: Institutions with a small asset base or a short operating history can represent an instability risk beyond what their financial ratios indicate. Norfolk Schools Credit Union has a very low asset base.

Texas Ratio


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 Norfolk Schools Credit Union had $45,000 in non-current loans and owned real-estate with $262,000 in equity and loan loss allowances on hand to cover it. This gives Norfolk Schools Credit Union a Texas Ratio of 17.18% which is above average. Any bank with a Texas Ratio near or greater than 100% is considered at risk.

Texas Ratio Trend


The Texas Ratio for Norfolk Schools Credit Union increased slightly from 7.92% as of March 31, 2013 to 17.18% as of March 31, 2014, resulting in a negative change of 116.74%. This indicates that the balance sheet and financial strength for Norfolk Schools Credit Union has declined slightly in recent periods.

Deposit Growth


In the past year, Norfolk Schools Credit Union has increased its total deposits by $161,000, resulting in 5.98% 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 Schools Credit Union has shown is excellent.



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 Schools Credit Union has $3.1 million in assets with $262,000 in equity, resulting in a capitalization level of 8.44%, which is average.

Institution Statistics

NCUA #1185
Year Chartered1936
Primary Regulator
Assets and Liabilities
Assets$3.11 million
Loans$1.28 million
Deposits$2.85 million
Equity Capital$246,000
Loan Loss Allowance$16,000
Unbacked Noncurrent Loans$45,000
Real Estate Owned$0
Historic Data - March 2013
Assets$2.95 million
Equity Capital$247,000
Loan Loss Allowance$18,000
Unbacked Noncurrent Loans$45,000
Real Estate Owned$0
Profit Margin - Quarterly
Net Interest Margin2.31%
Return on Assets-0.26%
Return on Equity-3.25%
Interest Income$31,000
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Norfolk Schools Credit Union Savings Account Rates

0.10%$100-Share Savings Account
0.10%--Summer Pay Plus
0.10%--Club 2
0.10%--Christmas Club

Norfolk Schools Credit Union Locations
Branch OfficeJANAF Office Bldg Suite 513 5900 E Virginia Beach BlvdNorfolk, VA 23502