Piedmont Credit Union

Piedmont Credit Union is headquartered in Danville and is the 65^th largest credit union in the state of Virginia. It is also the 2,242^nd largest credit union in the nation. It was established in 1969 and as of December of 2011, it had grown to 17 employees and 6,616 members. Piedmont Credit Union's savings rates are 92% higher than the national average, and it has a 4-star health rating.

Piedmont Credit Union Routing Number: 251480453

Piedmont Credit Union Checking Account Rates

Piedmont Credit Union Savings Account Rates

Piedmont Credit Union Money Market Rates

Piedmont Credit Union CD Rates

Piedmont Credit Union IRA Rates

Data for Q4 2011

Institution Statistics PIEDMONT CREDIT UNION NCUA # 66971 BankRate Report View Year Chartered 1969 Employees 17 Primary Regulator Assets and Liabilities Assets $49.76 million Loans $27.13 million Deposits $45.08 million Equity Capital $4.32 million Loan Loss Allowance $281,000 Unbacked Noncurrent Loans $1.06 million Historic Data - December 2010 Assets $44.66 million Equity Capital $3.89 million Loan Loss Allowance $292,000 Unbacked Noncurrent Loans $1.05 million Profit Margin - Quarterly Net Interest Margin 7.53% Return on Assets 0.9% Return on Equity 10.35% Interest Income $2.64 million Non-Interest Income $307,000

Institution Health Overall Score: 4 out of 5 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, 2011 Piedmont Credit Union had $1.06 million in non-current loans and owned real-estate with $4.6 million in equity and loan loss allowances on hand to cover it. This gives Piedmont Credit Union a Texas Ratio of 23.01% which is average. Any bank with a Texas Ratio near or greater than 100% is considered at risk. Texas Ratio Trend The Texas Ratio for Piedmont Credit Union held steady from 25.03% as of December 31, 2010 to 23.01% as of December 31, 2011, resulting in a positive change of 8.07%.This indicates that the balance sheet and financial strength for Piedmont Credit Union has held steady in recent periods. Deposit Growth In the past year, Piedmont Credit Union has increased its total deposits by $4.43 million, resulting in 10.89% 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 Credit Union has shown is excellent. Capitalization 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 Credit Union has $49.76 million in assets with $4.6 million in equity, resulting in a capitalization level of 9.24%, which is average.

No reviews have been left for this bank yet. Be the first to review.