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757-461-0300
JANAF Office Bldg Suite 513 5900 E Virginia Beach Blvd
Norfolk, VA 23502

Norfolk Schools Credit Union is headquartered in Norfolk and is the 135th largest credit union in the state of Virginia. It is also the 5,704th largest credit union in the nation. It was established in 1936 and as of December of 2013, it had grown to 2 employees and 969 members. Norfolk Schools Credit Union has a C health rating.

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Health

Data for Q4 2013

Institution Health

C
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

GRADE:
B+

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 Norfolk Schools Credit Union had $39,000 in non-current loans and owned real-estate with $264,000 in equity and loan loss allowances on hand to cover it. This gives Norfolk Schools Credit Union a Texas Ratio of 14.77% which is above average. Any bank with a Texas Ratio near or greater than 100% is considered at risk.

Texas Ratio Trend

GRADE:
C+

The Texas Ratio for Norfolk Schools Credit Union experienced no significant changes from 16.02% as of December 31, 2012 to 14.77% as of December 31, 2013, resulting in a positive change of 7.76%.This indicates that the balance sheet and financial strength for Norfolk Schools Credit Union has had no significant changes in recent periods.

Deposit Growth

GRADE:
A+

In the past year, Norfolk Schools Credit Union has increased its total deposits by $209,000, resulting in 8.32% 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.

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. Norfolk Schools Credit Union has $2.98 million in assets with $264,000 in equity, resulting in a capitalization level of 8.87%, which is average.

Institution Statistics

Overall
NCUA #1185
Year Chartered1936
Employees2
Primary Regulator
Assets and Liabilities
Assets$2.98 million
Loans$1.29 million
Deposits$2.72 million
Equity Capital$248,000
Loan Loss Allowance$16,000
Unbacked Noncurrent Loans$39,000
Real Estate Owned$0
Historic Data - December 2012
Assets$2.77 million
Equity Capital$238,000
Loan Loss Allowance$18,000
Unbacked Noncurrent Loans$39,000
Real Estate Owned$0
Profit Margin - Quarterly
Net Interest Margin9.24%
Return on Assets0.3%
Return on Equity3.63%
Interest Income$131,000
Rates

Sorry, we do not have rate data for Norfolk Schools Credit Union

Locations


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