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Overview / Commentary
245 Culloden St
Suffolk, VA 23434

Planters Credit Union is headquartered in SUFFOLK and is the 130th largest credit union in the state of Virginia. It is also the 5,524th largest credit union in the nation. It was established in 1973 and as of December of 2013, it had grown to 1 employees and 855 members. Planters Credit Union has a C+ health rating.

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Health

Data for Q4 2013

Institution Health

C+
Additional Factors: Institutions with a small asset base or a short operating history can represent an instability risk beyond what their financial ratios indicate. Planters Credit Union has a very low asset base.

Texas Ratio

GRADE:
B

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 Planters Credit Union had $115,000 in non-current loans and owned real-estate with $527,000 in equity and loan loss allowances on hand to cover it. This gives Planters Credit Union a Texas Ratio of 21.82% which is above average. Any bank with a Texas Ratio near or greater than 100% is considered at risk.

Texas Ratio Trend

GRADE:
A

The Texas Ratio for Planters Credit Union decreased dramatically from 32.06% as of December 31, 2012 to 21.82% as of December 31, 2013, resulting in a positive change of 31.93%.This indicates that the balance sheet and financial strength for Planters Credit Union has improved dramatically in recent periods.

Deposit Growth

GRADE:
B+

In the past year, Planters Credit Union has increased its total deposits by $46,000, resulting in 1.42% 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 Planters Credit Union has shown is above average.

Capitalization

GRADE:
A+

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. Planters Credit Union has $3.83 million in assets with $527,000 in equity, resulting in a capitalization level of 13.77%, which is excellent.

Institution Statistics

Overall
NCUA #21367
Year Chartered1973
Employees1
Primary Regulator
Assets and Liabilities
Assets$3.83 million
Loans$2.03 million
Deposits$3.29 million
Equity Capital$512,000
Loan Loss Allowance$15,000
Unbacked Noncurrent Loans$115,000
Real Estate Owned$0
Historic Data - December 2012
Assets$3.76 million
Equity Capital$482,000
Loan Loss Allowance$14,000
Unbacked Noncurrent Loans$115,000
Real Estate Owned$0
Profit Margin - Quarterly
Net Interest Margin8.43%
Return on Assets0.76%
Return on Equity5.66%
Interest Income$227,000
Rates

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Locations


Planters Credit Union Locations
Branch Office245 Culloden StSuffolk, VA 23434