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Overview / Commentary
804-281-6341
6620 W Broad St Bldg 2
Richmond, VA 23230

Resources Credit Union is headquartered in Richmond and is the 88th largest credit union in the state of Virginia. It is also the 3,694th largest credit union in the nation. It was established in 1935 and as of December of 2013, it had grown to 5 employees and 1,691 members. Resources Credit Union has a B health rating.

Field of Membership Restrictions

Must be an employee or retiree of Genworth Financial or any of its subsidiary. - See Details

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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. Resources Credit Union has a 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 Resources Credit Union had $0 in non-current loans and owned real-estate with $2.16 million in equity and loan loss allowances on hand to cover it. This gives Resources Credit Union a Texas Ratio of 0.00% which is excellent. Any bank with a Texas Ratio near or greater than 100% is considered at risk.

Deposit Growth

GRADE:
C

In the past year, Resources Credit Union has decreased its total deposits by $-356,000, resulting in -2.24% 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 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. Resources Credit Union has $17.64 million in assets with $2.16 million in equity, resulting in a capitalization level of 12.27%, which is excellent.

Institution Statistics

Overall
NCUA #291
Year Chartered1935
Employees5
Primary Regulator
Assets and Liabilities
Assets$17.64 million
Loans$5.05 million
Deposits$15.50 million
Equity Capital$2.12 million
Loan Loss Allowance$46,000
Real Estate Owned$0
Historic Data - December 2012
Assets$18.25 million
Equity Capital$2.35 million
Loan Loss Allowance$30,000
Unbacked Noncurrent Loans$0
Real Estate Owned$0
Profit Margin - Quarterly
Net Interest Margin5.58%
Return on Assets-0.07%
Return on Equity-0.57%
Interest Income$527,000
Rates
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Resources Credit Union Savings Account Rates

DetailsAPYMINMAXPRODUCT
0.10%--Share Savings
0.10%--Christmas Club

Resources Credit Union Money Market Rates

DetailsAPYMINMAXPRODUCT
0.25%$75k$250kMoney Market Share Account

Resources Credit Union CD Rates

DetailsAPYMINMAXPRODUCT
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
Locations


Resources Credit Union Locations
Branch Office6620 W Broad St Bldg 2Richmond, VA 23230-1721