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Overview / Commentary
804-649-2657
1200 New York AVE
Glen Allen, VA 23060

Partners Financial Credit Union is headquartered in Glen Allen and is the 43rd largest credit union in the state of Virginia. It is also the 1,592nd largest credit union in the nation. It was established in 1958 and as of March of 2014, it had grown to 28 employees and 11,341 members. Partners Financial Credit Union has a B health rating.

Field of Membership Restrictions

If you live, work, worship, attend school, or regularly conduct business in the City of Richmond, Chesterfield, Hanover, and Henrico Counties of Virginia, you are eligible to become a member of Partners Financial Federal Credit Union. Once you are a member, all your immediate family members or members of your household are eligible for membership. Membership requires a $5.00 minimum deposit into the basic share account. - 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. Partners Financial Credit Union has a relatively low asset base.

Texas Ratio

GRADE:
A+

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 Partners Financial Credit Union had $472,000 in non-current loans and owned real-estate with $7.12 million in equity and loan loss allowances on hand to cover it. This gives Partners Financial Credit Union a Texas Ratio of 6.63% which is excellent. Any bank with a Texas Ratio near or greater than 100% is considered at risk.

Texas Ratio Trend

GRADE:
B

The Texas Ratio for Partners Financial Credit Union decreased slightly from 7.47% as of March 31, 2013 to 6.63% as of March 31, 2014, resulting in a positive change of 11.21%.This indicates that the balance sheet and financial strength for Partners Financial Credit Union has improved slightly in recent periods.

Deposit Growth

GRADE:
C-

In the past year, Partners Financial Credit Union has decreased its total deposits by -$3.06 million, resulting in -3.45% 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 Partners Financial Credit Union has shown is below average.

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. Partners Financial Credit Union has $93.19 million in assets with $7.12 million in equity, resulting in a capitalization level of 7.63%, which is below average.

Institution Statistics

Overall
NCUA #12456
Year Chartered1958
Employees28
Primary Regulator
Assets and Liabilities
Assets$93.19 million
Loans$44.79 million
Deposits$85.90 million
Equity Capital$6.91 million
Loan Loss Allowance$203,000
Unbacked Noncurrent Loans$472,000
Real Estate Owned$0
Historic Data - March 2013
Assets$97.24 million
Equity Capital$7.76 million
Loan Loss Allowance$178,000
Unbacked Noncurrent Loans$472,000
Real Estate Owned$0
Profit Margin - Quarterly
Net Interest Margin1.19%
Return on Assets-0.21%
Return on Equity-2.78%
Interest Income$763,000
Rates

Always verify rates and promotions with the bank or credit union. We are not Partners Financial Credit Union, we are a rate comparison website and can not provide official rates or promotions.

Partners Financial Credit Union Savings Account Rates

DetailsAPYMINMAXPRODUCT
0.25%-$10kImagine Savings - Qualifying
0.05%--Imagine Savings - Non Qualifying

Partners Financial Credit Union Money Market Rates

DetailsAPYMINMAXPRODUCT
0.25%$75k-Money Market Account

Partners Financial Credit Union Checking Account Rates

DetailsAPYMINMAXPRODUCT
1.00%-$10kImagine Checking - Qualifying
0.05%--Imagine Checking - Non Qualifying

Partners Financial Credit Union CD Rates

DetailsAPYMINMAXPRODUCT
1.31%$10k-5 Year Share Certificate
0.85%$10k-3 Year Share Certificate
0.65%$10k-2 Year Share Certificate
0.45%$10k-1 Year Share Certificate
0.30%$10k-6 Month Share Certificate
Locations


Partners Financial Credit Union Locations
Branch Office2124 Reymet RdNorth Chesterfield, VA 23237-3720
Branch Office1200 New York AVEGlen Allen, VA 23060
Branch Office3640 Call Federal Dr Ste 300Midlothian, VA 23112
Branch Office400 N 8TH St Ste 117RICHMOND, VA 23219-4811
Branch Office5516 Falmouth St Ste 101Richmond, VA 23230
Branch Office8721 Staples Mill RdRichmond, VA 23228