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Overview / Commentary
455 Dinwiddie St
Portsmouth, VA 23704-3633

Portsmouth Schools Credit Union is headquartered in Portsmouth and is the 145th largest credit union in the state of Virginia. It is also the 5,859th largest credit union in the nation. It was established in 1942 and as of March of 2014, it had grown to 2 employees and 1,600 members. Portsmouth Schools Credit Union has a C+ health rating.

Field of Membership Restrictions

Employees of Portsmouth Public Schools, their family members and staff of Portsmouth Schools Federal Credit Union are eligible for membership. - See Details

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Data for Q1 2014

Institution Health

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


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 Portsmouth Schools Credit Union had $4,000 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 1.13% which is excellent. Any bank with a Texas Ratio near or greater than 100% is considered at risk.

Texas Ratio Trend


The Texas Ratio for Portsmouth Schools Credit Union decreased dramatically from 7.59% as of March 31, 2013 to 1.13% as of March 31, 2014, resulting in a positive change of 85.12%.This indicates that the balance sheet and financial strength for Portsmouth Schools Credit Union has improved dramatically in recent periods.

Deposit Growth


In the past year, Portsmouth Schools Credit Union has decreased its total deposits by $-58,000, resulting in -2.95% 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 below average.



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 $2.25 million in assets with $354,000 in equity, resulting in a capitalization level of 15.71%, which is excellent.

Institution Statistics

NCUA #4833
Year Chartered1942
Primary Regulator
Assets and Liabilities
Assets$2.25 million
Deposits$1.91 million
Equity Capital$334,000
Loan Loss Allowance$20,000
Unbacked Noncurrent Loans$4,000
Real Estate Owned$0
Historic Data - March 2013
Assets$2.34 million
Equity Capital$359,000
Loan Loss Allowance$23,000
Unbacked Noncurrent Loans$4,000
Real Estate Owned$0
Profit Margin - Quarterly
Net Interest Margin3.42%
Return on Assets0%
Return on Equity0%
Interest Income$25,000
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Portsmouth Schools Credit Union CD Rates

0.30%$1k-18 Month CD
0.20%$1k-12 Month CD
0.15%$1k-6 Month CD

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