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Overview / Commentary
757-533-9308
2701 Hampton Blvd
Norfolk, VA 23517

Old Dominion University Cu Inc., is headquartered in Norfolk and is the 76th largest credit union in the state of Virginia. It is also the 3,063rd largest credit union in the nation. It was established in 1958 and as of December of 2013, it had grown to 8 employees and 3,498 members. Old Dominion University Cu Inc., has a C+ health rating.

Field of Membership Restrictions

Must be a faculty, staff, employee, retiree or student of Old Dominion University. Also open to employees of Norfolk State University and other select organizations. - See Details

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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. Old Dominion University Cu Inc., has a low asset base.

Texas Ratio

GRADE:
C

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 Old Dominion University Cu Inc., had $1.32 million in non-current loans and owned real-estate with $2.76 million in equity and loan loss allowances on hand to cover it. This gives Old Dominion University Cu Inc., a Texas Ratio of 47.75% 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 Old Dominion University Cu Inc., experienced no significant changes from 46.52% as of December 31, 2012 to 47.75% as of December 31, 2013, resulting in a negative change of 2.65%. This indicates that the balance sheet and financial strength for Old Dominion University Cu Inc., has had no significant changes in recent periods.

Deposit Growth

GRADE:
A

In the past year, Old Dominion University Cu Inc., has increased its total deposits by $870,000, resulting in 3.66% 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 Old Dominion University Cu Inc., 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. Old Dominion University Cu Inc., has $27.29 million in assets with $2.76 million in equity, resulting in a capitalization level of 10.11%, which is above average.

Institution Statistics

Overall
NCUA #60568
Year Chartered1958
Employees8
Primary Regulator
Assets and Liabilities
Assets$27.29 million
Loans$15.09 million
Deposits$24.64 million
Equity Capital$2.52 million
Loan Loss Allowance$238,000
Unbacked Noncurrent Loans$1.16 million
Real Estate Owned$155,000
Historic Data - December 2012
Assets$26.24 million
Equity Capital$2.35 million
Loan Loss Allowance$224,000
Unbacked Noncurrent Loans$1.16 million
Real Estate Owned$155,000
Profit Margin - Quarterly
Net Interest Margin6.77%
Return on Assets0.63%
Return on Equity6.78%
Interest Income$1.13 million
Rates
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Old Dominion University Cu Inc., Savings Account Rates

DetailsAPYMINMAXPRODUCT
0.40%--IRA Savings
0.20%$25-Share Savings
0.20%$25-Christmas Club
0.20%$25-Vacation Club
0.20%$25-Investment Club

Old Dominion University Cu Inc., Checking Account Rates

DetailsAPYMINMAXPRODUCT
0.00%--Share Draft Account

Old Dominion University Cu Inc., CD Rates

DetailsAPYMINMAXPRODUCT
0.70%$1k-24 Month CD
0.50%$1k-12 Month CD
0.40%$1k-6 Month CD

Old Dominion University Cu Inc., IRA Rates

DetailsAPYMINMAXPRODUCT
0.70%$1k-24 Month IRA
0.50%$1k-12 Month IRA
0.40%$1k-6 Month IRA
Locations


Old Dominion University Cu Inc., Locations
Branch Office4901 Hampton BlvdNorfolk, VA 23508
Branch Office2701 Hampton BlvdNorfolk, VA 23517