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Salem Va Medical Center Credit Union

Overview / Commentary
540-344-4419
1970 Roanoke Blvd Bldg 77, Rm 12
Salem, VA 24153

Salem Va Medical Center Credit Union is headquartered in Salem and is the 52nd largest credit union in the state of Virginia. It is also the 1,793rd largest credit union in the nation. It was established in 1936 and as of March of 2014, it had grown to 25 employees and 11,082 members. Salem Va Medical Center Credit Union has a C+ health rating.

Field of Membership Restrictions

Must live, work, worship or attend school in the county of Roanoke, the cities of Salem or Roanoke or the town of Vinton, Virginia. - See Details

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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. Salem Va Medical Center Credit Union has a relatively low asset base.

Texas Ratio

GRADE:
B

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 Salem Va Medical Center Credit Union had $1.34 million in non-current loans and owned real-estate with $6.66 million in equity and loan loss allowances on hand to cover it. This gives Salem Va Medical Center Credit Union a Texas Ratio of 20.09% which is above average. Any bank with a Texas Ratio near or greater than 100% is considered at risk.

Texas Ratio Trend

GRADE:
C+

The Texas Ratio for Salem Va Medical Center Credit Union experienced no significant changes from 18.00% as of March 31, 2013 to 20.09% as of March 31, 2014, resulting in a negative change of 11.62%. This indicates that the balance sheet and financial strength for Salem Va Medical Center Credit Union has had no significant changes in recent periods.

Deposit Growth

GRADE:
A

In the past year, Salem Va Medical Center Credit Union has increased its total deposits by $3.04 million, resulting in 4.62% 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 Salem Va Medical Center Credit Union has shown is excellent.

Capitalization

GRADE:
C

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. Salem Va Medical Center Credit Union has $77.36 million in assets with $6.66 million in equity, resulting in a capitalization level of 8.62%, which is average.

Institution Statistics

Overall
NCUA #1127
Year Chartered1936
Employees25
Primary Regulator
Assets and Liabilities
Assets$77.36 million
Loans$48.87 million
Deposits$68.93 million
Equity Capital$6.25 million
Loan Loss Allowance$415,000
Unbacked Noncurrent Loans$1.34 million
Real Estate Owned$0
Historic Data - March 2013
Assets$74.45 million
Equity Capital$6.05 million
Loan Loss Allowance$428,000
Unbacked Noncurrent Loans$1.34 million
Real Estate Owned$0
Profit Margin - Quarterly
Net Interest Margin1.49%
Return on Assets0.11%
Return on Equity1.41%
Interest Income$806,000
Rates
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Salem Va Medical Center Credit Union Savings Account Rates

DetailsAPYMINMAXPRODUCT
0.50%--IRA Account
0.50%$2k-Coverdell ESA
0.40%$5k-Regular Shares (Savings) Account
0.25%--Vacation Club Account
0.25%--Christmas Club Account
0.25%--Eagle's Nest Kids Club Accounts

Salem Va Medical Center Credit Union Checking Account Rates

DetailsAPYMINMAXPRODUCT
0.00%--Share Draft (Checking) Account

Salem Va Medical Center Credit Union CD Rates

DetailsAPYMINMAXPRODUCT
1.50%$1k-60 Month CD
1.10%$1k-48 Month CD
0.90%$1k-36 Month CD
0.70%$1k-24 Month CD
0.50%$1k-12 Month CD
0.40%$10k-6 Month CD

Salem Va Medical Center Credit Union IRA Rates

DetailsAPYMINMAXPRODUCT
1.50%$1k-60 Month IRA
1.10%$1k-48 Month IRA
0.90%$1k-36 Month IRA
0.70%$1k-24 Month IRA
0.50%$1k-12 Month IRA
0.40%$10k-6 Month IRA
Locations


Salem Va Medical Center Credit Union Locations
Branch Office1970 Roanoke Blvd Bldg 77, Rm 12Salem, VA 24153
Branch Office2042 Electric RdRoanoke, VA 24018
Branch Office112 W Main StSalem, VA 24153