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Poly Scientific Employees Credit Union

Poly Scientific Employees Credit Union
Overview / Commentary
1213 N Main St
Blacksburg, VA 24060

Poly Scientific Employees Credit Union is headquartered in Blacksburg and is the 104th largest credit union in the state of Virginia. It is also the 4,565th largest credit union in the nation. It was established in 1960 and as of December of 2013, it had grown to 963 members. Poly Scientific Employees 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. Poly Scientific Employees Credit Union has a very low asset base.

Texas Ratio

GRADE:
A

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 Poly Scientific Employees Credit Union had $137,000 in non-current loans and owned real-estate with $1.37 million in equity and loan loss allowances on hand to cover it. This gives Poly Scientific Employees Credit Union a Texas Ratio of 9.97% which is excellent. Any bank with a Texas Ratio near or greater than 100% is considered at risk.

Texas Ratio Trend

GRADE:
C+

The Texas Ratio for Poly Scientific Employees Credit Union experienced no significant changes from 10.96% as of December 31, 2012 to 9.97% as of December 31, 2013, resulting in a positive change of 9.01%.This indicates that the balance sheet and financial strength for Poly Scientific Employees Credit Union has had no significant changes in recent periods.

Deposit Growth

GRADE:
C

In the past year, Poly Scientific Employees Credit Union has decreased its total deposits by $-104,000, resulting in -1.32% 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 Poly Scientific Employees Credit Union has shown is 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. Poly Scientific Employees Credit Union has $9.1 million in assets with $1.37 million in equity, resulting in a capitalization level of 15.10%, which is excellent.

Institution Statistics

Overall
NCUA #13544
Year Chartered1960
Employees0
Primary Regulator
Assets and Liabilities
Assets$9.10 million
Loans$3.30 million
Deposits$7.75 million
Equity Capital$1.35 million
Loan Loss Allowance$23,000
Unbacked Noncurrent Loans$137,000
Real Estate Owned$0
Historic Data - December 2012
Assets$9.20 million
Equity Capital$1.34 million
Loan Loss Allowance$34,000
Unbacked Noncurrent Loans$137,000
Real Estate Owned$0
Profit Margin - Quarterly
Net Interest Margin6.79%
Return on Assets0.08%
Return on Equity0.52%
Interest Income$229,000
Rates

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Locations


Poly Scientific Employees Credit Union Locations
Branch Office1213 N Main StBlacksburg, VA 24060