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Overview / Commentary
757-461-1796
P.O. Box 12719
Norfolk, VA 23541

PortAlliance Credit Union is headquartered in Norfolk and is the 45th largest credit union in the state of Virginia. It is also the 1,609th largest credit union in the nation. It was established in 1958 and as of December of 2013, it had grown to 43 employees and 10,330 members. PortAlliance Credit Union's savings rates are 4X the national average, and it has a A health rating.

Field of Membership Restrictions

Must live, work, worship or attend school in Norfolk, Virginia Beach, Chesapeake, Portsmouth, Suffolk, Franklin, Isle of Wright County or Southampton County. - See Details

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Health

Data for Q4 2013

Institution Health

A
Additional Factors: Institutions with a small asset base or a short operating history can represent an instability risk beyond what their financial ratios indicate. PortAlliance Credit Union has a relatively 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 PortAlliance Credit Union had $416,000 in non-current loans and owned real-estate with $8.86 million in equity and loan loss allowances on hand to cover it. This gives PortAlliance Credit Union a Texas Ratio of 4.70% 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 PortAlliance Credit Union experienced no significant changes from 3.20% as of December 31, 2012 to 4.70% as of December 31, 2013, resulting in a negative change of 46.86%. This indicates that the balance sheet and financial strength for PortAlliance Credit Union has had no significant changes in recent periods.

Deposit Growth

GRADE:
A

In the past year, PortAlliance Credit Union has increased its total deposits by $2.33 million, resulting in 3.08% 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 PortAlliance Credit Union has shown is excellent.

Capitalization

GRADE:
B+

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. PortAlliance Credit Union has $88.11 million in assets with $8.86 million in equity, resulting in a capitalization level of 10.05%, which is above average.

Institution Statistics

Overall
NCUA #12630
Year Chartered1958
Employees43
Primary Regulator
Assets and Liabilities
Assets$88.11 million
Loans$68.74 million
Deposits$77.81 million
Equity Capital$8.13 million
Loan Loss Allowance$729,000
Unbacked Noncurrent Loans$416,000
Real Estate Owned$0
Historic Data - December 2012
Assets$84.78 million
Equity Capital$7.47 million
Loan Loss Allowance$904,000
Unbacked Noncurrent Loans$416,000
Real Estate Owned$0
Profit Margin - Quarterly
Net Interest Margin6.12%
Return on Assets0.58%
Return on Equity6.25%
Interest Income$5.28 million
Rates
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PortAlliance Credit Union Savings Account Rates

DetailsAPYMINMAXPRODUCT
2.15%-$1,500Gain Student Share
1.49%$20k-IRA Account
0.15%$100-Share Savings
0.15%--Custodian Account
0.15%$100-Smart Share
0.15%$100-Christmas Club
0.15%$25-Quarterly Club

PortAlliance Credit Union Money Market Rates

DetailsAPYMINMAXPRODUCT
0.40%$25k-Money Market Account

PortAlliance Credit Union CD Rates

DetailsAPYMINMAXPRODUCT
0.95%$1k-60 Month CD
0.60%$1k-48 Month CD
0.50%$1k-36 Month CD
0.35%$1k-24 Month CD
0.25%$500-12 Month CD
0.15%$500-6 Month CD
Locations


PortAlliance Credit Union Locations
Branch Office5670 Raby RdNorfolk, VA 23502-2411
Branch Office1968 Gilbert ST Naval Base W-143Norfolk, VA 23511