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P.o.box 1206
Portsmouth, VA 23705

Portsmouth Va City Employees Credit Union is headquartered in Portsmouth and is the 141st largest credit union in the state of Virginia. It is also the 5,834th largest credit union in the nation. It was established in 1965 and as of March of 2014, it had grown to 2 employees and 896 members. Portsmouth Va City Employees Credit Union has a C- health rating.

Field of Membership Restrictions

Must be an employee of the City of Portsmouth, Portsmouth General District Court, the Portsmouth Health Department or other select group. - See Details

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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. Portsmouth Va City Employees Credit Union has a very low asset base.

Texas Ratio

GRADE:
B

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 Va City Employees Credit Union had $63,000 in non-current loans and owned real-estate with $321,000 in equity and loan loss allowances on hand to cover it. This gives Portsmouth Va City Employees Credit Union a Texas Ratio of 19.63% which is above 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 Portsmouth Va City Employees Credit Union experienced no significant changes from 20.00% as of March 31, 2013 to 19.63% as of March 31, 2014, resulting in a positive change of 1.87%.This indicates that the balance sheet and financial strength for Portsmouth Va City Employees Credit Union has had no significant changes in recent periods.

Deposit Growth

GRADE:
F

In the past year, Portsmouth Va City Employees Credit Union has decreased its total deposits by $-568,000, resulting in -21.67% 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 Va City Employees Credit Union has shown is poor.

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 Va City Employees Credit Union has $2.34 million in assets with $321,000 in equity, resulting in a capitalization level of 13.72%, which is excellent.

Institution Statistics

Overall
NCUA #16970
Year Chartered1965
Employees2
Primary Regulator
Assets and Liabilities
Assets$2.34 million
Loans$841,000
Deposits$2.05 million
Equity Capital$281,000
Loan Loss Allowance$40,000
Unbacked Noncurrent Loans$63,000
Real Estate Owned$0
Historic Data - March 2013
Assets$2.97 million
Equity Capital$344,000
Loan Loss Allowance$16,000
Unbacked Noncurrent Loans$63,000
Real Estate Owned$0
Profit Margin - Quarterly
Net Interest Margin2.85%
Return on Assets-1.2%
Return on Equity-9.96%
Interest Income$27,000
Rates
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Portsmouth Va City Employees Credit Union Savings Account Rates

DetailsAPYMINMAXPRODUCT
0.00%$50-Share Account
0.00%--Club Accounts
Locations


Portsmouth Va City Employees Credit Union Locations
Branch Office801 Crawford St Fl 5Portsmouth, VA 23704-3822