Resources Credit Union is headquartered in Richmond and is the 90th largest credit union in the state of Virginia. It is also the 3,704th largest credit union in the nation. It was established in 1935 and as of March of 2014, it had grown to 5 employees and 1,666 members. Resources Credit Union has a B health rating.
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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 Resources Credit Union had $11,000 in non-current loans and owned real-estate with $2.19 million in equity and loan loss allowances on hand to cover it. This gives Resources Credit Union a Texas Ratio of 0.50% which is excellent. Any bank with a Texas Ratio near or greater than 100% is considered at risk.
In the past year, Resources Credit Union has decreased its total deposits by $-445,000, resulting in -2.76% 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 Resources 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. Resources Credit Union has $17.92 million in assets with $2.19 million in equity, resulting in a capitalization level of 12.20%, which is excellent.
|Assets and Liabilities|
|Equity Capital||$2.15 million|
|Loan Loss Allowance||$41,000|
|Unbacked Noncurrent Loans||$11,000|
|Real Estate Owned||$0|
|Historic Data - March 2013|
|Equity Capital||$2.32 million|
|Loan Loss Allowance||$32,000|
|Real Estate Owned||$0|
|Profit Margin - Quarterly|
|Net Interest Margin||1.42%|
|Return on Assets||0%|
|Return on Equity||0%|
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|0.25%||$75k||$250k||Money Market Share Account|
|1.46%||$10k||-||60 Month CD|
|1.16%||$10k||-||48 Month CD|
|0.90%||$10k||-||36 Month CD|
|0.65%||$10k||-||24 Month CD|
|0.55%||$10k||-||12 Month CD|
|0.40%||$10k||-||6 Month CD|
|Resources Credit Union Locations|
|Branch Office||6620 W Broad St Bldg 2||Richmond, VA 23230-1721|