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Overview / Commentary
455 Dinwiddie Street
Portsmouth, VA 23704

Portsmouth Schools Credit Union is headquartered in PORTSMOUTH and is the 148th largest credit union in the state of Virginia. It is also the 5,944th largest credit union in the nation. It was established in 1942 and as of December of 2013, it had grown to 2 employees and 1,600 members. Portsmouth Schools Credit Union has a B health rating.

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Health

Data for Q4 2013

Institution Health

B
Additional Factors: Institutions with a small asset base or a short operating history can represent an instability risk beyond what their financial ratios indicate. Portsmouth Schools 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 Portsmouth Schools Credit Union had $6,000 in non-current loans and owned real-estate with $354,000 in equity and loan loss allowances on hand to cover it. This gives Portsmouth Schools Credit Union a Texas Ratio of 1.69% which is excellent. Any bank with a Texas Ratio near or greater than 100% is considered at risk.

Texas Ratio Trend

GRADE:
A+

The Texas Ratio for Portsmouth Schools Credit Union decreased dramatically from 9.21% as of December 31, 2012 to 1.69% as of December 31, 2013, resulting in a positive change of 81.60%.This indicates that the balance sheet and financial strength for Portsmouth Schools Credit Union has improved dramatically in recent periods.

Deposit Growth

GRADE:
B+

In the past year, Portsmouth Schools Credit Union has increased its total deposits by $35,000, resulting in 2.14% 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 Portsmouth Schools 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. Portsmouth Schools Credit Union has $2.01 million in assets with $354,000 in equity, resulting in a capitalization level of 17.61%, which is excellent.

Institution Statistics

Overall
NCUA #4833
Year Chartered1942
Employees2
Primary Regulator
Assets and Liabilities
Assets$2.01 million
Loans$852,000
Deposits$1.67 million
Equity Capital$334,000
Loan Loss Allowance$20,000
Unbacked Noncurrent Loans$6,000
Real Estate Owned$0
Historic Data - December 2012
Assets$2.00 million
Equity Capital$360,000
Loan Loss Allowance$20,000
Unbacked Noncurrent Loans$6,000
Real Estate Owned$0
Profit Margin - Quarterly
Net Interest Margin12.09%
Return on Assets-1.24%
Return on Equity-7.49%
Interest Income$106,000
Rates

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Locations


Portsmouth Schools Credit Union Locations
Branch Office455 Dinwiddie StPortsmouth, VA 23704-3633