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Overview / Commentary
245 Culloden St
Suffolk, VA 23434

Planters Credit Union is headquartered in Suffolk and is the 129th largest credit union in the state of Virginia. It is also the 5,472nd largest credit union in the nation. It was established in 1973 and as of March of 2014, it had grown to 1 employees and 870 members. Planters Credit Union has a C health rating.

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Health

Data for Q1 2014

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:
C

The Texas Ratio is an indicator of how much capital a bank has available compared to the total value of loans considered at risk. As of March 31, 2014 Planters Credit Union had $171,000 in non-current loans and owned real-estate with $548,000 in equity and loan loss allowances on hand to cover it. This gives Planters Credit Union a Texas Ratio of 31.20% which is average. Any bank with a Texas Ratio near or greater than 100% is considered at risk.

Texas Ratio Trend

GRADE:
C+

The Texas Ratio for Planters Credit Union experienced no significant changes from 34.45% as of March 31, 2013 to 31.20% as of March 31, 2014, resulting in a positive change of 9.42%.This indicates that the balance sheet and financial strength for Planters Credit Union has had no significant changes in recent periods.

Deposit Growth

GRADE:
B+

In the past year, Planters Credit Union has increased its total deposits by $45,000, resulting in 1.33% 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 $4 million in assets with $548,000 in equity, resulting in a capitalization level of 13.72%, which is excellent.

Institution Statistics

Overall
NCUA #21367
Year Chartered1973
Employees1
Primary Regulator
Assets and Liabilities
Assets$4.00 million
Loans$2.03 million
Deposits$3.43 million
Equity Capital$535,000
Loan Loss Allowance$13,000
Unbacked Noncurrent Loans$171,000
Real Estate Owned$0
Historic Data - March 2013
Assets$3.92 million
Equity Capital$495,000
Loan Loss Allowance$13,000
Unbacked Noncurrent Loans$171,000
Real Estate Owned$0
Profit Margin - Quarterly
Net Interest Margin2.23%
Return on Assets2.3%
Return on Equity17.2%
Interest Income$59,000
Rates

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Locations


Planters Credit Union Locations
Branch Office245 Culloden StSuffolk, VA 23434