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Overview / Commentary
366 Piney Forest Rd
Danville, VA 24540

Piedmont Credit Union is headquartered in Danville and is the 65th largest credit union in the state of Virginia. It is also the 2,226th largest credit union in the nation. It was established in 1969 and as of December of 2013, it had grown to 16 employees and 7,372 members. Piedmont Credit Union's savings rates are 44% higher than the national average, and it has a B health rating.

Field of Membership Restrictions

Must live or work in the city of Danville or the counties of Pittsylvania or Halifax in Virginia. - 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. Piedmont 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 Piedmont Credit Union had $1.26 million in non-current loans and owned real-estate with $5.45 million in equity and loan loss allowances on hand to cover it. This gives Piedmont Credit Union a Texas Ratio of 23.11% 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 decreased slightly from 28.09% as of December 31, 2012 to 23.11% as of December 31, 2013, resulting in a positive change of 17.75%.This indicates that the balance sheet and financial strength for Piedmont Credit Union has improved slightly in recent periods.

Deposit Growth


In the past year, Piedmont Credit Union has increased its total deposits by $1.89 million, resulting in 4.22% 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.



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 $51.9 million in assets with $5.45 million in equity, resulting in a capitalization level of 10.51%, which is above average.

Institution Statistics

NCUA #66971
Year Chartered1969
Primary Regulator
Assets and Liabilities
Assets$51.90 million
Loans$29.80 million
Deposits$46.74 million
Equity Capital$4.98 million
Loan Loss Allowance$471,000
Unbacked Noncurrent Loans$1.26 million
Real Estate Owned$0
Historic Data - December 2012
Assets$49.70 million
Equity Capital$4.73 million
Loan Loss Allowance$354,000
Unbacked Noncurrent Loans$1.26 million
Real Estate Owned$608,000
Profit Margin - Quarterly
Net Interest Margin7.92%
Return on Assets0.81%
Return on Equity8.39%
Interest Income$2.84 million

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Piedmont Credit Union Savings Account Rates

0.75%$50-IRA Share Account
0.75%$50-Roth IRA Share Account
0.35%$5k-Regular Share Savings
0.20%$50-Christmas Club
0.20%$50-Summer Club
0.20%$50-Vacation Club

Piedmont Credit Union Money Market Rates

0.50%$50k-Money Market Account

Piedmont Credit Union Checking Account Rates

0.30%$3k-Share Draft Account

Piedmont Credit Union CD Rates

1.51%$1k-5 Year Share CD
1.00%$1k-2 Year Share CD
0.75%$1k-1 Year Share CD
0.50%$1k-6 Month Share CD

Piedmont Credit Union IRA Rates

1.51%$1k-5 Year IRA Certificate (Traditional,Roth)
1.00%$1k-2 Year IRA Certificate (Traditional,Roth)
0.75%$1k-1 Year IRA Certificate (Traditional,Roth)
0.50%$1k-6 Month IRA Certificate (Traditional,Roth)

Piedmont Credit Union Locations
Branch Office366 Piney Forest RdDanville, VA 24540