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Overview / Commentary
804-780-1001
200 W Grace St
Richmond, VA 23220-5018

Richmond Police Dept. Credit Union is headquartered in Richmond and is the 119st largest credit union in the state of Virginia. It is also the 5,102nd largest credit union in the nation. It was established in 1934 and as of March of 2014, it had grown to 2 employees and 1,077 members. Richmond Police Dept. Credit Union's savings rates are 44% higher than the national average, and it has a C+ health rating.

Field of Membership Restrictions

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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. Richmond Police Dept. Credit Union has a very low asset base.

Texas Ratio

GRADE:
A+

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 Police Dept. Credit Union had $60,000 in non-current loans and owned real-estate with $756,000 in equity and loan loss allowances on hand to cover it. This gives Richmond Police Dept. Credit Union a Texas Ratio of 7.94% 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 Police Dept. Credit Union experienced no significant changes from 5.28% as of March 31, 2013 to 7.94% as of March 31, 2014, resulting in a negative change of 50.21%. This indicates that the balance sheet and financial strength for Richmond Police Dept. Credit Union has had no significant changes in recent periods.

Deposit Growth

GRADE:
C-

In the past year, Richmond Police Dept. Credit Union has decreased its total deposits by $-212,000, resulting in -3.84% 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 Police Dept. Credit Union has shown is below 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 Police Dept. Credit Union has $5.95 million in assets with $756,000 in equity, resulting in a capitalization level of 12.71%, which is excellent.

Institution Statistics

Overall
NCUA #66901
Year Chartered1934
Employees2
Primary Regulator
Assets and Liabilities
Assets$5.95 million
Loans$3.39 million
Deposits$5.31 million
Equity Capital$712,000
Loan Loss Allowance$44,000
Unbacked Noncurrent Loans$60,000
Real Estate Owned$0
Historic Data - March 2013
Assets$6.25 million
Equity Capital$741,000
Loan Loss Allowance$35,000
Unbacked Noncurrent Loans$60,000
Real Estate Owned$0
Profit Margin - Quarterly
Net Interest Margin1.96%
Return on Assets-0.34%
Return on Equity-2.81%
Interest Income$73,000
Rates
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Richmond Police Dept. Credit Union Savings Account Rates

DetailsAPYMINMAXPRODUCT
0.75%$100-Christmas Club Account
0.75%$100-Vacation Club Account
0.75%$100-Kids Club Account
0.50%$500-Regular Shares (Savings)
Locations


Richmond Police Dept. Credit Union Locations
Branch Office200 W Grace StRichmond, VA 23220-5018
Branch Office200 W Grace StRichmond, VA 23220-5018