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

Spruance Cellophane Credit Union is headquartered in NORTH CHESTERFI and is the 119st largest credit union in the state of Virginia. It is also the 5,135th largest credit union in the nation. It was established in 1953 and as of December of 2013, it had grown to 3 employees and 1,234 members. Spruance Cellophane Credit Union has a C+ health rating.

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Health

Data for Q4 2013

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. Spruance Cellophane Credit Union has a very low asset base.

Texas Ratio

GRADE:
A+

The Texas Ratio is an indicator of how much funds a bank has available compared to the total value of loans considered at risk. As of December 31, 2013 Spruance Cellophane Credit Union had $9,000 in non-current loans and owned real-estate with $527,000 in equity and loan loss allowances on hand to cover it. This gives Spruance Cellophane Credit Union a Texas Ratio of 1.71% 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 Spruance Cellophane Credit Union experienced no significant changes from 1.48% as of December 31, 2012 to 1.71% as of December 31, 2013, resulting in a negative change of 15.75%. This indicates that the balance sheet and financial strength for Spruance Cellophane Credit Union has had no significant changes in recent periods.

Deposit Growth

GRADE:
B

In the past year, Spruance Cellophane Credit Union has increased its total deposits by $37,000, resulting in 0.72% 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 above average.

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 $5.7 million in assets with $527,000 in equity, resulting in a capitalization level of 9.24%, which is average.

Institution Statistics

Overall
NCUA #60012
Year Chartered1953
Employees3
Primary Regulator
Assets and Liabilities
Assets$5.70 million
Loans$3.02 million
Deposits$5.17 million
Equity Capital$525,000
Loan Loss Allowance$2,000
Unbacked Noncurrent Loans$9,000
Real Estate Owned$0
Historic Data - December 2012
Assets$5.75 million
Equity Capital$609,000
Loan Loss Allowance$1,000
Unbacked Noncurrent Loans$9,000
Real Estate Owned$0
Profit Margin - Quarterly
Net Interest Margin6.91%
Return on Assets-1.46%
Return on Equity-15.81%
Interest Income$235,000
Rates

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Locations


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