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Overview / Commentary
501 W Broad St
Waynesboro, VA 22980-4519

Valley Industrial Credit Union is headquartered in Waynesboro and is the 103rd largest credit union in the state of Virginia. It is also the 4,461st largest credit union in the nation. It was established in 1977 and as of March of 2014, it had grown to 5 employees and 1,505 members. Valley Industrial Credit Union's savings rates are 3X the national average, but it has a C health rating.

Field of Membership Restrictions

Must live, work, worship or attend school in Augusta County or the independent cities of Waynesboro or Staunton, Virginia. - 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. Valley Industrial Credit Union has a 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 Valley Industrial Credit Union had $269,000 in non-current loans and owned real-estate with $877,000 in equity and loan loss allowances on hand to cover it. This gives Valley Industrial Credit Union a Texas Ratio of 30.67% which is average. Any bank with a Texas Ratio near or greater than 100% is considered at risk.

Texas Ratio Trend


The Texas Ratio for Valley Industrial Credit Union increased slightly from 21.29% as of March 31, 2013 to 30.67% as of March 31, 2014, resulting in a negative change of 44.09%. This indicates that the balance sheet and financial strength for Valley Industrial Credit Union has declined slightly in recent periods.

Deposit Growth


In the past year, Valley Industrial Credit Union has increased its total deposits by $704,000, resulting in 8.11% 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 Valley Industrial 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. Valley Industrial Credit Union has $10.21 million in assets with $877,000 in equity, resulting in a capitalization level of 8.59%, which is average.

Institution Statistics

NCUA #66893
Year Chartered1977
Primary Regulator
Assets and Liabilities
Assets$10.21 million
Loans$7.05 million
Deposits$9.39 million
Equity Capital$814,000
Loan Loss Allowance$63,000
Unbacked Noncurrent Loans$196,000
Real Estate Owned$73,000
Historic Data - March 2013
Assets$9.46 million
Equity Capital$776,000
Loan Loss Allowance$32,000
Unbacked Noncurrent Loans$196,000
Real Estate Owned$0
Profit Margin - Quarterly
Net Interest Margin1.71%
Return on Assets0.51%
Return on Equity6.39%
Interest Income$136,000
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Valley Industrial Credit Union Savings Account Rates

1.46%--IRA Savings Account
0.40%--Regular Share Account
0.40%--Xmas Savings Account
0.40%--Club Savings Account
0.40%--Vacation Savings Account

Valley Industrial Credit Union CD Rates

1.05%$5k-6 Month Special CD
0.95%$500-12 Month CD
0.85%$500-18 Month CD
0.75%$500-24 Month CD

Valley Industrial Credit Union IRA Rates

1.05%$5k-6 Month Special IRA
0.95%$500-12 Month IRA
0.85%$500-18 Month IRA
0.75%$500-24 Month IRA

Valley Industrial Credit Union Locations
Branch Office501 W Broad StWaynesboro, VA 22980-4519