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Overview / Commentary
7119 Jefferson Davis Hwy
North Chesterfi, VA 23237

Spruance Cellophane Credit Union is headquartered in NORTH CHESTERFIELD and is the 118st largest credit union in the state of Virginia. It is also the 5,084th largest credit union in the nation. It was established in 1953 and as of March of 2014, it had grown to 3 employees and 1,232 members. Spruance Cellophane 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. Spruance Cellophane 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 Spruance Cellophane Credit Union had $9,000 in non-current loans and owned real-estate with $509,000 in equity and loan loss allowances on hand to cover it. This gives Spruance Cellophane Credit Union a Texas Ratio of 1.77% which is excellent. Any bank with a Texas Ratio near or greater than 100% is considered at risk.

Texas Ratio Trend

GRADE:
A

The Texas Ratio for Spruance Cellophane Credit Union decreased dramatically from 2.70% as of March 31, 2013 to 1.77% as of March 31, 2014, resulting in a positive change of 34.58%.This indicates that the balance sheet and financial strength for Spruance Cellophane Credit Union has improved dramatically in recent periods.

Deposit Growth

GRADE:
A+

In the past year, Spruance Cellophane Credit Union has increased its total deposits by $344,000, resulting in 6.66% 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 Spruance Cellophane 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. Spruance Cellophane Credit Union has $6.02 million in assets with $509,000 in equity, resulting in a capitalization level of 8.46%, which is average.

Institution Statistics

Overall
NCUA #60012
Year Chartered1953
Employees3
Primary Regulator
Assets and Liabilities
Assets$6.02 million
Loans$2.97 million
Deposits$5.51 million
Equity Capital$507,000
Loan Loss Allowance$2,000
Unbacked Noncurrent Loans$9,000
Real Estate Owned$0
Historic Data - March 2013
Assets$5.76 million
Equity Capital$592,000
Loan Loss Allowance$0
Unbacked Noncurrent Loans$9,000
Real Estate Owned$0
Profit Margin - Quarterly
Net Interest Margin1.68%
Return on Assets-1.2%
Return on Equity-14.2%
Interest Income$56,000
Rates

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Locations


Spruance Cellophane Credit Union Locations
Branch Office7119 JEFFERSON DAVIS HWYNORTH CHESTERFIELD, VA 23237