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Overview / Commentary
2200 Washington Street East, P.O. B
Charleston, WV 25305

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 2,126th largest credit union in the nation. It was established in 1988 and as of December of 2013, it had grown to 13 employees and 9,611 members. The State Credit Union has a B+ 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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Health

Data for Q4 2013

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. The State Credit Union has a relatively 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 The State Credit Union had $122,000 in non-current loans and owned real-estate with $7.23 million in equity and loan loss allowances on hand to cover it. This gives The State Credit Union a Texas Ratio of 1.69% which is excellent. Any bank with a Texas Ratio near or greater than 100% is considered at risk.

Texas Ratio Trend

GRADE:
B

The Texas Ratio for The State Credit Union decreased slightly from 1.92% as of December 31, 2012 to 1.69% as of December 31, 2013, resulting in a positive change of 12.27%.This indicates that the balance sheet and financial strength for The State Credit Union has improved slightly in recent periods.

Deposit Growth

GRADE:
B+

In the past year, The State Credit Union has increased its total deposits by $1.21 million, resulting in 2.5% 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 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. The State Credit Union has $56.98 million in assets with $7.23 million in equity, resulting in a capitalization level of 12.69%, which is excellent.

Institution Statistics

Overall
NCUA #67222
Year Chartered1988
Employees13
Primary Regulator
Assets and Liabilities
Assets$56.98 million
Loans$30.27 million
Deposits$49.61 million
Equity Capital$6.87 million
Loan Loss Allowance$362,000
Unbacked Noncurrent Loans$122,000
Real Estate Owned$0
Historic Data - December 2012
Assets$55.02 million
Equity Capital$6.27 million
Loan Loss Allowance$332,000
Unbacked Noncurrent Loans$122,000
Real Estate Owned$0
Profit Margin - Quarterly
Net Interest Margin5.61%
Return on Assets1.05%
Return on Equity8.69%
Interest Income$1.91 million
Rates
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The State Credit Union Savings Account Rates

DetailsAPYMINMAXPRODUCT
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

DetailsAPYMINMAXPRODUCT
0.05%$1,500-Share Checking

The State Credit Union CD Rates

DetailsAPYMINMAXPRODUCT
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

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


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