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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 2,214st largest credit union in the nation. It was established in 1966 and as of December of 2013, it had grown to 19 employees and 7,940 members. Peoples Advantage Credit Union has a C+ 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 Q4 2013

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 funds a bank has available compared to the total value of loans considered at risk. As of December 31, 2013 Peoples Advantage Credit Union had $409,000 in non-current loans and owned real-estate with $4.39 million in equity and loan loss allowances on hand to cover it. This gives Peoples Advantage Credit Union a Texas Ratio of 9.32% 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 increased slightly from 3.90% as of December 31, 2012 to 9.32% as of December 31, 2013, resulting in a negative change of 139.20%. This indicates that the balance sheet and financial strength for Peoples Advantage Credit Union has declined slightly in recent periods.

Deposit Growth


In the past year, Peoples Advantage Credit Union has decreased its total deposits by -$1.79 million, resulting in -3.59% 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 below 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 $52.26 million in assets with $4.39 million in equity, resulting in a capitalization level of 8.40%, which is average.

Institution Statistics

NCUA #17464
Year Chartered1966
Primary Regulator
Assets and Liabilities
Assets$52.26 million
Loans$17.54 million
Deposits$48.03 million
Equity Capital$4.15 million
Loan Loss Allowance$242,000
Unbacked Noncurrent Loans$409,000
Real Estate Owned$0
Historic Data - December 2012
Assets$54.56 million
Equity Capital$4.54 million
Loan Loss Allowance$336,000
Unbacked Noncurrent Loans$409,000
Real Estate Owned$0
Profit Margin - Quarterly
Net Interest Margin7.33%
Return on Assets0.13%
Return on Equity1.59%
Interest Income$1.83 million
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Peoples Advantage Credit Union Savings Account Rates

0.50%$1k-IRA Share Accounts
0.50%$1k-Health Savings Accounts
0.25%$1k-Shares Account

Peoples Advantage Credit Union Checking Account Rates

0.10%$2k-Share Drafts Account

Peoples Advantage Credit Union CD Rates

1.21%$1k-60 Month CD
0.90%$1k-48 Month CD
0.80%$1k-36 Month CD
0.60%$1k-24 Month CD
0.50%$1k-12 Month CD
0.30%$1k-6 Month CD

Peoples Advantage Credit Union IRA Rates

1.21%$1k-60 Month IRA
0.90%$1k-48 Month IRA
0.80%$1k-36 Month IRA
0.60%$1k-24 Month IRA
0.50%$1k-12 Month IRA

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