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757-487-3474
5100 George Washington Hwy
Portsmouth, VA 23702

Northern Star Credit Union is headquartered in Portsmouth and is the 47th largest credit union in the state of Virginia. It is also the 1,671st largest credit union in the nation. It was established in 1929 and as of March of 2014, it had grown to 36 employees and 9,832 members. Northern Star Credit Union's savings rates are 44% higher than the national average, and it has a B health rating.

Field of Membership Restrictions

Northern Star exists to support the communities Hampton Roads. Membership is open to all individuals who live, work, worship, attend school or volunteer in the cities of Suffolk, Chesapeake, Portsmouth, Norfolk, Virginia Beach, Hampton, and Newport News. - 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. Northern Star Credit Union has a relatively low asset base.

Texas Ratio

GRADE:
C+

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 Northern Star Credit Union had $2.38 million in non-current loans and owned real-estate with $9.31 million in equity and loan loss allowances on hand to cover it. This gives Northern Star Credit Union a Texas Ratio of 25.55% which is 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 Northern Star Credit Union experienced no significant changes from 23.60% as of March 31, 2013 to 25.55% as of March 31, 2014, resulting in a negative change of 8.29%. This indicates that the balance sheet and financial strength for Northern Star Credit Union has had no significant changes in recent periods.

Deposit Growth

GRADE:
A+

In the past year, Northern Star Credit Union has increased its total deposits by $4.92 million, resulting in 6.95% 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 Northern Star Credit Union has shown is excellent.

Capitalization

GRADE:
B+

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. Northern Star Credit Union has $86.64 million in assets with $9.31 million in equity, resulting in a capitalization level of 10.75%, which is above average.

Institution Statistics

Overall
NCUA #66956
Year Chartered1929
Employees36
Primary Regulator
Assets and Liabilities
Assets$86.64 million
Loans$50.74 million
Deposits$75.63 million
Equity Capital$8.80 million
Loan Loss Allowance$513,000
Unbacked Noncurrent Loans$622,000
Real Estate Owned$1.76 million
Historic Data - March 2013
Assets$83.59 million
Equity Capital$9.31 million
Loan Loss Allowance$351,000
Unbacked Noncurrent Loans$622,000
Real Estate Owned$1.52 million
Profit Margin - Quarterly
Net Interest Margin1.53%
Return on Assets0.42%
Return on Equity4.09%
Interest Income$988,000
Rates
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Northern Star Credit Union Savings Account Rates

DetailsAPYMINMAXPRODUCT
0.75%$250-IRA Share Account
0.15%$100-Share Account
0.15%$100-Club Accounts

Northern Star Credit Union Money Market Rates

DetailsAPYMINMAXPRODUCT
0.50%$25k-Money Market

Northern Star Credit Union CD Rates

DetailsAPYMINMAXPRODUCT
1.50%$1k-60 Month Share Certificate
1.25%$1k-48 Month Share Certificate
1.00%$1k-36 Month Share Certificate
0.75%$1k-24 Month Share Certificate
0.50%$1k-12 Month Share Certificate
0.25%$1k-6 Month Share Certificate

Northern Star Credit Union IRA Rates

DetailsAPYMINMAXPRODUCT
0.75%$250-24 Month IRA Certificate (Fixed)
Locations


Northern Star Credit Union Locations
Branch Office5624 Portsmouth BlvdPortsmouth, VA 23701
Branch Office5885 Harbour View BlvdSuffolk, VA 23435
Branch Office5100 George Washington HwyPortsmouth, VA 23702