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Overview / Commentary
62 West Main Street
Romney, WV 26757

Romney Credit Union is headquartered in Romney and is the 66th largest credit union in the state of West Virginia. It is also the 5,109th largest credit union in the nation. It was established in 1955 and as of March of 2014, it had grown to 3 employees and 1,127 members. Romney Credit Union has a B health rating.

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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. Romney 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 Romney Credit Union had $22,000 in non-current loans and owned real-estate with $825,000 in equity and loan loss allowances on hand to cover it. This gives Romney Credit Union a Texas Ratio of 2.67% 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 Romney Credit Union experienced no significant changes from 0.48% as of March 31, 2013 to 2.67% as of March 31, 2014, resulting in a negative change of 460.00%. This indicates that the balance sheet and financial strength for Romney Credit Union has had no significant changes in recent periods.

Deposit Growth

GRADE:
C+

In the past year, Romney Credit Union has decreased its total deposits by $-50,000, resulting in -0.98% 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 Romney 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. Romney Credit Union has $5.89 million in assets with $825,000 in equity, resulting in a capitalization level of 14.01%, which is excellent.

Institution Statistics

Overall
NCUA #10301
Year Chartered1955
Employees3
Primary Regulator
Assets and Liabilities
Assets$5.89 million
Loans$2.91 million
Deposits$5.06 million
Equity Capital$821,000
Loan Loss Allowance$4,000
Unbacked Noncurrent Loans$22,000
Real Estate Owned$0
Historic Data - March 2013
Assets$5.95 million
Equity Capital$831,000
Loan Loss Allowance$9,000
Unbacked Noncurrent Loans$22,000
Real Estate Owned$0
Profit Margin - Quarterly
Net Interest Margin1.34%
Return on Assets0.27%
Return on Equity1.95%
Interest Income$46,000
Rates

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Locations


Romney Credit Union Locations
Branch Office62 W Main StRomney, WV 267571638