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Overview / Commentary
757-424-5967
6477 College Park Square Suite 200
Virginia Beach, VA 23464

St. Matthews Credit Union is headquartered in Virginia Beach and is the 115st largest credit union in the state of Virginia. It is also the 4,994th largest credit union in the nation. It was established in 1961 and as of December of 2013, it had grown to 2 employees and 695 members. St. Matthews Credit Union has a C+ health rating.

Field of Membership Restrictions

Must live, work, worship or attend school in the St. Matthews Community. - See Details

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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. St. Matthews Credit Union has a very low asset base.

Texas Ratio

GRADE:
B+

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 St. Matthews Credit Union had $112,000 in non-current loans and owned real-estate with $980,000 in equity and loan loss allowances on hand to cover it. This gives St. Matthews Credit Union a Texas Ratio of 11.43% which is above average. Any bank with a Texas Ratio near or greater than 100% is considered at risk.

Deposit Growth

GRADE:
B+

In the past year, St. Matthews Credit Union has increased its total deposits by $108,000, resulting in 1.99% 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 St. Matthews Credit Union has shown is above 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. St. Matthews Credit Union has $6.53 million in assets with $980,000 in equity, resulting in a capitalization level of 15.01%, which is excellent.

Institution Statistics

Overall
NCUA #14745
Year Chartered1961
Employees2
Primary Regulator
Assets and Liabilities
Assets$6.53 million
Loans$2.42 million
Deposits$5.55 million
Equity Capital$971,000
Loan Loss Allowance$9,000
Unbacked Noncurrent Loans$112,000
Real Estate Owned$0
Historic Data - December 2012
Assets$6.40 million
Equity Capital$951,000
Loan Loss Allowance$4,000
Real Estate Owned$0
Profit Margin - Quarterly
Net Interest Margin8.37%
Return on Assets0.31%
Return on Equity2.06%
Interest Income$225,000
Rates
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St. Matthews Credit Union Savings Account Rates

DetailsAPYMINMAXPRODUCT
0.25%--IRA Club Account
0.10%--Share Account
Locations


St. Matthews Credit Union Locations
Branch Office6477 College Park Sq Ste 200Virginia Beach, VA 23464-3611
Branch Office3314 Sandra LnVirginia Beach, VA 23464-1736