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P.O. Box 3180
Petersburg, VA 23805

Peoples Advantage Credit Union is headquartered in Petersburg and is the 64th largest credit union in the state of Virginia. It is also the 2,199th largest credit union in the nation. It was established in 1966 and as of March of 2014, it had grown to 19 employees and 7,607 members. Peoples Advantage Credit Union has a B health rating.

Field of Membership Restrictions

Must live, work, worship or attend school in, volunteer, businesses and other legal entities located in the Counties of Amelia, Caroline, Charles City, Chesterfield, Cumberland, Dinwiddie, Goochland, Hanover, Henrico, King and Queen, King William, Louisa, New Kent, Powhatan, Prince George, and Sussex; and the Independent Cities of Colonial Heights, Hopewell, Petersburg, and Richmond. - See Details

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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. Peoples Advantage Credit Union has a relatively 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 Peoples Advantage Credit Union had $152,000 in non-current loans and owned real-estate with $4.37 million in equity and loan loss allowances on hand to cover it. This gives Peoples Advantage Credit Union a Texas Ratio of 3.48% which is excellent. Any bank with a Texas Ratio near or greater than 100% is considered at risk.

Texas Ratio Trend


The Texas Ratio for Peoples Advantage Credit Union decreased slightly from 4.66% as of March 31, 2013 to 3.48% as of March 31, 2014, resulting in a positive change of 25.32%.This indicates that the balance sheet and financial strength for Peoples Advantage Credit Union has improved slightly in recent periods.

Deposit Growth


In the past year, Peoples Advantage Credit Union has increased its total deposits by $396,000, resulting in 0.79% 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 Peoples Advantage Credit Union has shown is above average.



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. Peoples Advantage Credit Union has $54.81 million in assets with $4.37 million in equity, resulting in a capitalization level of 7.97%, which is below average.

Institution Statistics

NCUA #17464
Year Chartered1966
Primary Regulator
Assets and Liabilities
Assets$54.81 million
Loans$17.10 million
Deposits$50.60 million
Equity Capital$4.16 million
Loan Loss Allowance$209,000
Unbacked Noncurrent Loans$152,000
Real Estate Owned$0
Historic Data - March 2013
Assets$54.98 million
Equity Capital$4.57 million
Loan Loss Allowance$322,000
Unbacked Noncurrent Loans$152,000
Real Estate Owned$0
Profit Margin - Quarterly
Return on Assets0.01%
Return on Equity0.1%
Interest Income$425,000

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Peoples Advantage Credit Union Locations
Branch Office110 Wagner RdPetersburg, VA 23805-9303
Branch Office12902 Old Stage RdChester, VA 23836-2542
Branch Office2801 Conduit RdColonial Heights, VA 23834-2971