Piedmont Advantage Credit Union is headquartered in Winston Salem and is the 13st largest credit union in the state of North Carolina. It is also the 824th largest credit union in the nation. It was established in 1949 and as of September of 2013, it had grown to 84 employees and 41,466 members. Piedmont Advantage Credit Union has a A+ health rating.
Do not get a loan from this bank! You can't pay online, it is a service charge of $6 or $7 to pay by card over phone, you can't pay at an ATM, and they got rid of monthly statements with payment stubs so you have to just send a check to Winston-Salem with your loan number and hope they apply it to the right account. A check from from a family member was accidentally sent to the Mooresville branch and they lost it causing my payment to be late. Then (our fault it was late) we received a call saying we owed lets say $180 when our monthly payment was 100. The total was 100 for the previous month and 80 for the upcoming payment date. Turns out we actually had a credit! They had called so much that they didn't even give time for payments to process! Banks go through situations like this all of the time. How are they so clueless?
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 September 30, 2013 Piedmont Advantage Credit Union had $2.17 million in non-current loans and owned real-estate with $31.46 million in equity and loan loss allowances on hand to cover it. This gives Piedmont Advantage Credit Union a Texas Ratio of 6.88% which is excellent. Any bank with a Texas Ratio near or greater than 100% is considered at risk.
The Texas Ratio for Piedmont Advantage Credit Union held steady from 6.55% as of September 30, 2012 to 6.88% as of September 30, 2013, resulting in a negative change of 5.04%. This indicates that the balance sheet and financial strength for Piedmont Advantage Credit Union has held steady in recent periods.
In the past year, Piedmont Advantage Credit Union has increased its total deposits by $12.09 million, resulting in 6.37% 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 Piedmont Advantage Credit Union has shown is excellent.
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. Piedmont Advantage Credit Union has $233.01 million in assets with $31.46 million in equity, resulting in a capitalization level of 13.50%, which is excellent.
|Assets and Liabilities|
|Equity Capital||$29.71 million|
|Loan Loss Allowance||$1.75 million|
|Unbacked Noncurrent Loans||$2.17 million|
|Real Estate Owned||$0|
|Historic Data - September 2012|
|Equity Capital||$30.44 million|
|Loan Loss Allowance||$1.74 million|
|Unbacked Noncurrent Loans||$2.17 million|
|Real Estate Owned||$51,000|
|Profit Margin - Quarterly|
|Net Interest Margin||3.54%|
|Return on Assets||0.1%|
|Return on Equity||0.77%|
|Interest Income||$6.45 million|
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|0.05%||-||-||Silver Advantage Checking|
|1.40%||-||-||60 Month CD|
|1.20%||-||-||48 Month CD|
|1.00%||-||-||30 Month CD|
|1.00%||-||-||36 Month CD|
|0.70%||-||-||24 Month CD|
|0.50%||-||-||18 Month CD|
|0.40%||-||-||12 Month CD|
|0.30%||-||-||6 Month CD|
|0.25%||-||-||3 Month CD|
|1.40%||-||-||60 Month IRA|
|1.20%||-||-||48 Month IRA|
|1.00%||-||-||30 Month IRA|
|1.00%||-||-||36 Month IRA|
|0.70%||-||-||24 Month IRA|
|0.50%||-||-||18 Month IRA|
|0.40%||-||-||12 Month IRA|
|0.30%||-||-||6 Month IRA|
|0.25%||-||-||3 Month IRA|
|Piedmont Advantage Credit Union Locations|
|Branch Office||4700 Yorkmont Rd||Charlotte, NC 28208|
|Branch Office||3810 N Liberty St||Winston Salem, NC 27105|
|Branch Office||3815 Park Ave||Wilmington, NC 28403-6720|
|Branch Office||174 Liberty square||Kenansville, NC 28349|
|Branch Office||139 S Cardigan Way||Mooresville, NC 28117|
|Branch Office||212 E Kings Hwy||Eden, NC 27288|
|Branch Office||5501 Josh Birmingham Pkwy Ste 3120||Charlotte, NC 28208|
|Branch Office||4997 Home Rd||Winston Salem, NC 27106|
|Branch Office||3400 Battleground Ave # A||Greensboro, NC 27410|
|Branch Office||676 Hanes Mall Blvd||Winston Salem, NC 27103|