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Overview / Commentary
CHARLESTON, WV 25311-2219

The State Credit Union is headquartered in CHARLESTON and is the 14st largest credit union in the state of West Virginia. It is also the 2,098th largest credit union in the nation. It was established in 1988 and as of March of 2014, it had grown to 12 employees and 9,556 members. The State Credit Union has a A health rating.

Field of Membership Restrictions

Must be an employee of the state of West Virginia or other select member groups. An employees of other political subdivisions of the state of West Virginia's Public Employees Retirement System. - See Details

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Data for Q1 2014

Institution Health

Additional Factors: Institutions with a small asset base or a short operating history can represent an instability risk beyond what their financial ratios indicate. The State Credit Union has a relatively low asset base.

Texas Ratio


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 The State Credit Union had $65,000 in non-current loans and owned real-estate with $7.34 million in equity and loan loss allowances on hand to cover it. This gives The State Credit Union a Texas Ratio of 0.89% which is excellent. Any bank with a Texas Ratio near or greater than 100% is considered at risk.

Texas Ratio Trend


The Texas Ratio for The State Credit Union experienced no significant changes from 0.77% as of March 31, 2013 to 0.89% as of March 31, 2014, resulting in a negative change of 14.63%. This indicates that the balance sheet and financial strength for The State Credit Union has had no significant changes in recent periods.

Deposit Growth


In the past year, The State Credit Union has increased its total deposits by $2.33 million, resulting in 4.64% 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 The State Credit Union has shown is excellent.



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. The State Credit Union has $59.88 million in assets with $7.34 million in equity, resulting in a capitalization level of 12.26%, which is excellent.

Institution Statistics

NCUA #67222
Year Chartered1988
Primary Regulator
Assets and Liabilities
Assets$59.88 million
Loans$30.42 million
Deposits$52.49 million
Equity Capital$6.98 million
Loan Loss Allowance$365,000
Unbacked Noncurrent Loans$65,000
Real Estate Owned$0
Historic Data - March 2013
Assets$57.09 million
Equity Capital$6.39 million
Loan Loss Allowance$339,000
Unbacked Noncurrent Loans$65,000
Real Estate Owned$0
Profit Margin - Quarterly
Net Interest Margin1.41%
Return on Assets0.71%
Return on Equity6.13%
Interest Income$477,000
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The State Credit Union Savings Account Rates

0.36%--Christmas Savings
0.25%$20k-Regular Share Savings
0.10%--Vacation Savings
0.10%--Investor Savings

The State Credit Union Checking Account Rates

0.05%$1,500-Share Checking

The State Credit Union CD Rates

0.50%$500-24 Month CD
0.30%$500-12 Month CD
0.25%$500-6 Month CD
0.20%$500-91 Day CD

The State Credit Union IRA Rates

0.50%$500-24 Month IRA
0.30%$500-12 Month IRA

The State Credit Union Locations
Branch Office2200 WASHINGTON ST ECHARLESTON, WV 25311-2219