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Riverside Health System Employees' Credit Union

Overview / Commentary
500 J Clyde Morris Blvd
Newport news, VA 23601-1929

Riverside Health System Employees' Credit Union is headquartered in Newport news and is the 107th largest credit union in the state of Virginia. It is also the 4,642nd largest credit union in the nation. It was established in 1970 and as of March of 2014, it had grown to 4 employees and 3,115 members. Riverside Health System Employees' Credit Union has a B health rating.

Field of Membership Restrictions

Must be a Riverside Health System employee. - See Details

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Health

Data for Q1 2014

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. Riverside Health System Employees' 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 Riverside Health System Employees' Credit Union had $65,000 in non-current loans and owned real-estate with $1.45 million in equity and loan loss allowances on hand to cover it. This gives Riverside Health System Employees' Credit Union a Texas Ratio of 4.50% 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 Riverside Health System Employees' Credit Union experienced no significant changes from 4.83% as of March 31, 2013 to 4.50% as of March 31, 2014, resulting in a positive change of 6.87%.This indicates that the balance sheet and financial strength for Riverside Health System Employees' Credit Union has had no significant changes in recent periods.

Deposit Growth

GRADE:
C+

In the past year, Riverside Health System Employees' Credit Union has decreased its total deposits by $-14,000, resulting in -0.19% 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 Riverside Health System Employees' 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. Riverside Health System Employees' Credit Union has $8.81 million in assets with $1.45 million in equity, resulting in a capitalization level of 16.42%, which is excellent.

Institution Statistics

Overall
NCUA #62418
Year Chartered1970
Employees4
Primary Regulator
Assets and Liabilities
Assets$8.81 million
Loans$3.41 million
Deposits$7.29 million
Equity Capital$1.41 million
Loan Loss Allowance$38,000
Unbacked Noncurrent Loans$65,000
Real Estate Owned$0
Historic Data - March 2013
Assets$8.82 million
Equity Capital$1.41 million
Loan Loss Allowance$61,000
Unbacked Noncurrent Loans$65,000
Real Estate Owned$0
Profit Margin - Quarterly
Net Interest Margin2.48%
Return on Assets0%
Return on Equity0%
Interest Income$90,000
Rates
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Riverside Health System Employees' Credit Union Savings Account Rates

DetailsAPYMINMAXPRODUCT
0.30%$1k-Thrift Account
0.25%$100-Share Savings Account
0.20%--Christmas Shares Account
0.20%--Vacation Account
Locations


Riverside Health System Employees' Credit Union Locations
Branch Office500 J Clyde Morris BlvdNewport news, VA 23601-1929