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Overview / Commentary
804-354-0673
1634 Ownby Ln
Richmond, VA 23220

Richmond Fire Dept Credit Union Inc is headquartered in Richmond and is the 91st largest credit union in the state of Virginia. It is also the 3,876th largest credit union in the nation. It was established in 1929 and as of December of 2013, it had grown to 6 employees and 1,514 members. Richmond Fire Dept Credit Union Inc has a B health rating.

Field of Membership Restrictions

Must be a member of the City of Richmond, Virginia's Department of Fire and Emergency Services or its affiliate. - 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. Richmond Fire Dept Credit Union Inc 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 Richmond Fire Dept Credit Union Inc had $151,000 in non-current loans and owned real-estate with $2.04 million in equity and loan loss allowances on hand to cover it. This gives Richmond Fire Dept Credit Union Inc a Texas Ratio of 7.41% which is excellent. Any bank with a Texas Ratio near or greater than 100% is considered at risk.

Texas Ratio Trend

GRADE:
C+

The Texas Ratio for Richmond Fire Dept Credit Union Inc experienced no significant changes from 4.01% as of December 31, 2012 to 7.41% as of December 31, 2013, resulting in a negative change of 84.48%. This indicates that the balance sheet and financial strength for Richmond Fire Dept Credit Union Inc has had no significant changes in recent periods.

Deposit Growth

GRADE:
B+

In the past year, Richmond Fire Dept Credit Union Inc has increased its total deposits by $348,000, resulting in 2.67% 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 Richmond Fire Dept Credit Union Inc 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. Richmond Fire Dept Credit Union Inc has $15.44 million in assets with $2.04 million in equity, resulting in a capitalization level of 13.21%, which is excellent.

Institution Statistics

Overall
NCUA #66899
Year Chartered1929
Employees6
Primary Regulator
Assets and Liabilities
Assets$15.44 million
Loans$9.43 million
Deposits$13.39 million
Equity Capital$1.90 million
Loan Loss Allowance$140,000
Unbacked Noncurrent Loans$151,000
Real Estate Owned$0
Historic Data - December 2012
Assets$14.96 million
Equity Capital$1.79 million
Loan Loss Allowance$155,000
Unbacked Noncurrent Loans$151,000
Real Estate Owned$0
Profit Margin - Quarterly
Net Interest Margin6.42%
Return on Assets0.72%
Return on Equity5.85%
Interest Income$713,000
Rates
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Richmond Fire Dept Credit Union Inc Savings Account Rates

DetailsAPYMINMAXPRODUCT
0.45%--Traditional IRA Account
0.45%--Roth IRA Account
0.25%--Regular Share Account
Locations


Richmond Fire Dept Credit Union Inc Locations
Branch Office2302 W Main StRichmond, VA 23220-4435
Branch Office900 Hermitage RdRichmond, VA 23220-2001
Branch Office900 Hermitage RdRichmond, VA 23220-2001