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Tidewater Dominion Employees Credit Union

Overview / Commentary
757-857-2699
2700 Cromwell Dr
Norfolk, VA 23509

Tidewater Dominion Employees Credit Union is headquartered in Norfolk and is the 105th largest credit union in the state of Virginia. It is also the 4,574th largest credit union in the nation. It was established in 1938 and as of December of 2013, it had grown to 4 employees and 1,541 members. Tidewater Dominion Employees Credit Union has a C+ health rating.

Field of Membership Restrictions

Must be an employee or contractor of Dominion Virginia Power or Virginia Natural Gas. - 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. Tidewater Dominion Employees 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 Tidewater Dominion Employees Credit Union had $16,000 in non-current loans and owned real-estate with $821,000 in equity and loan loss allowances on hand to cover it. This gives Tidewater Dominion Employees Credit Union a Texas Ratio of 1.95% 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 Tidewater Dominion Employees Credit Union experienced no significant changes from 1.31% as of December 31, 2012 to 1.95% as of December 31, 2013, resulting in a negative change of 48.60%. This indicates that the balance sheet and financial strength for Tidewater Dominion Employees Credit Union has had no significant changes in recent periods.

Deposit Growth

GRADE:
B

In the past year, Tidewater Dominion Employees Credit Union has increased its total deposits by $46,000, resulting in 0.56% 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 Tidewater Dominion Employees 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. Tidewater Dominion Employees Credit Union has $9.06 million in assets with $821,000 in equity, resulting in a capitalization level of 9.06%, which is average.

Institution Statistics

Overall
NCUA #2983
Year Chartered1938
Employees4
Primary Regulator
Assets and Liabilities
Assets$9.07 million
Loans$2.75 million
Deposits$8.24 million
Equity Capital$804,000
Loan Loss Allowance$17,000
Unbacked Noncurrent Loans$16,000
Real Estate Owned$0
Historic Data - December 2012
Assets$9.10 million
Equity Capital$893,000
Loan Loss Allowance$22,000
Unbacked Noncurrent Loans$16,000
Real Estate Owned$0
Profit Margin - Quarterly
Net Interest Margin5.71%
Return on Assets-0.98%
Return on Equity-11.07%
Interest Income$228,000
Rates
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Tidewater Dominion Employees Credit Union Savings Account Rates

DetailsAPYMINMAXPRODUCT
0.15%$5k-Share Savings
0.15%$5k-Club I (Special Share Account)
0.05%--Christmas Club & Club II

Tidewater Dominion Employees Credit Union Checking Account Rates

DetailsAPYMINMAXPRODUCT
0.00%$100-Share Draft (checking)

Tidewater Dominion Employees Credit Union CD Rates

DetailsAPYMINMAXPRODUCT
1.25%$1k-5 Year CD
1.00%$1k-4 Year CD
0.85%$1k-3 Year CD
0.60%$1k-2 Year CD
0.40%$1k-1 Year CD
0.25%$1k-6 Month CD
Locations


Tidewater Dominion Employees Credit Union Locations
Branch Office2700 Cromwell DrNorfolk, VA 235092606
Branch Office5600 Crooks Rd Suite 101Troy, MI 480982803