Veritas Credit Union

Veritas Credit Union is headquartered in FRANKLIN and is the 65^th largest credit union in the state of Tennessee. It is also the 2,911^st largest credit union in the nation. It was established in 1973 and as of December of 2011, it had grown to 10 employees and 5,010 members. Veritas Credit Union has a 4-star health rating.

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Data for Q4 2011

Institution Statistics VERITAS NCUA # 21354 BankRate Report View Year Chartered 1973 Employees 10 Primary Regulator Assets and Liabilities Assets $30.51 million Loans $24.03 million Deposits $27.44 million Equity Capital $2.91 million Loan Loss Allowance $709,000 Unbacked Noncurrent Loans $413,000 Real Estate Owned $60,000 Historic Data - December 2010 Assets $31.59 million Equity Capital $2.66 million Loan Loss Allowance $783,000 Unbacked Noncurrent Loans $798,000 Real Estate Owned $125,000 Profit Margin - Quarterly Net Interest Margin 6.56% Return on Assets 0.81% Return on Equity 8.47% Interest Income $1.72 million Non-Interest Income $352,000

Institution Health Overall Score: 4 out of 5 Texas Ratio 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, 2011 Veritas Credit Union had $473,000 in non-current loans and owned real-estate with $3.61 million in equity and loan loss allowances on hand to cover it. This gives Veritas Credit Union a Texas Ratio of 13.09% which is above average. Any bank with a Texas Ratio near or greater than 100% is considered at risk. Texas Ratio Trend The Texas Ratio for Veritas Credit Union decreased significantly from 26.82% as of December 31, 2010 to 13.09% as of December 31, 2011, resulting in a positive change of 51.19%.This indicates that the balance sheet and financial strength for Veritas Credit Union has improved significantly in recent periods. Deposit Growth In the past year, Veritas Credit Union has decreased its total deposits by -$1.41 million, resulting in -4.88% 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 Veritas Credit Union has shown is below average. Capitalization 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. Veritas Credit Union has $30.51 million in assets with $3.61 million in equity, resulting in a capitalization level of 11.84%, which is above average.