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Overview / Commentary
50 W Commerce Rd
Richmond, VA 23224

Richmond Heritage Credit Union is headquartered in Richmond and is the 112st largest credit union in the state of Virginia. It is also the 4,909th largest credit union in the nation. It was established in 1936 and as of March of 2014, it had grown to 3 employees and 2,351 members. Richmond Heritage Credit Union has a C- health rating.

Field of Membership Restrictions

Must be an employee of the Richmond Public School, Richmond Metropolitan Business League, Virginia Union University, Association Education Services Corporation of Virginia or the Richmond Community Hospital. Also open to those who live, work or worship in Blackwell, Manchester or Swansboro. - 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. Richmond Heritage 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 Richmond Heritage Credit Union had $107,000 in non-current loans and owned real-estate with $669,000 in equity and loan loss allowances on hand to cover it. This gives Richmond Heritage Credit Union a Texas Ratio of 15.99% which is above average. Any bank with a Texas Ratio near or greater than 100% is considered at risk.

Texas Ratio Trend


The Texas Ratio for Richmond Heritage Credit Union increased slightly from 6.61% as of March 31, 2013 to 15.99% as of March 31, 2014, resulting in a negative change of 142.14%. This indicates that the balance sheet and financial strength for Richmond Heritage Credit Union has declined slightly in recent periods.

Deposit Growth


In the past year, Richmond Heritage Credit Union has decreased its total deposits by $-95,000, resulting in -1.45% 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 Heritage Credit Union has shown is 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. Richmond Heritage Credit Union has $7.1 million in assets with $669,000 in equity, resulting in a capitalization level of 9.42%, which is average.

Institution Statistics

NCUA #1282
Year Chartered1936
Primary Regulator
Assets and Liabilities
Assets$7.10 million
Loans$4.29 million
Deposits$6.45 million
Equity Capital$637,000
Loan Loss Allowance$32,000
Unbacked Noncurrent Loans$107,000
Real Estate Owned$0
Historic Data - March 2013
Assets$7.13 million
Equity Capital$583,000
Loan Loss Allowance$68,000
Unbacked Noncurrent Loans$107,000
Real Estate Owned$0
Profit Margin - Quarterly
Net Interest Margin1.95%
Return on Assets0.34%
Return on Equity3.77%
Interest Income$87,000
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Richmond Heritage Credit Union Savings Account Rates

0.10%$10k-Regular Share Account
0.05%--Vacation Club Account
0.05%--Christmas Club Account

Richmond Heritage Credit Union CD Rates

0.75%$2k-12 Month Share CD
0.35%$2k-6 Month Share CD

Richmond Heritage Credit Union Locations
Branch Office50 W Commerce RdRichmond, VA 23224-2316