Average User Rating:
4 star rating based on 1 review.

Virginia Beach Schools Credit Union

Virginia Beach Schools Credit Union Locations

3701 Bonney Road
Virginia Beach, VA 23452
877-482-7328
www.vbsfcu.org

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Virginia Beach Schools Credit Union is headquartered in Virginia Beach and is the 48^th largest credit union in the state of Virginia. It is also the 1,649^th largest credit union in the nation. It was established in 1960 and as of December of 2011, it had grown to 35 employees and 12,527 members. Virginia Beach Schools Credit Union has a 5-star health rating.

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See Rates for: Savings | Money Market | CD | IRA

Virginia Beach Schools Credit Union Savings Account Rates

Apy	Min	Max	Product
0.45%	-	-	Individual Retirement Account
0.18%	$100	-	Prime Share
0.18%	-	-	Youth Share
0.13%	$200	-	Holiday Club
0.13%	$300	-	Summer Club

Virginia Beach Schools Credit Union Money Market Rates

	Apy	Min	Max	Product
	0.48%	$50k	-	SmartChoice Money Market

Virginia Beach Schools Credit Union CD Rates

Apy	Min	Max	Product
0.80%	$1k	-	48 Month Term Share Account
0.65%	$1k	-	36 Month Term Share Account
0.45%	$1k	-	24 Month Term Share Account
0.35%	$250	-	12 Month Youth Term Share Account
0.30%	$1k	-	12 Month Compounded Dividend Term Share Account
0.30%	$1k	-	12 Month 'Paid to Shares' Term Share Account
0.20%	$1k	-	6 Month Term Share Account
0.05%	$500	-	12 Month "Builder" Term Share Account

Virginia Beach Schools Credit Union IRA Rates

Apy	Min	Max	Product
0.80%	$1k	-	48 Month Term Share IRA
0.65%	$1k	-	36 Month Term Share IRA
0.45%	$1k	-	24 Month Term Share IRA
0.30%	$1k	-	12 Month Term Share IRA

Rates updated: 5/27/2012

Data for Q4 2011

Institution Statistics

VIRGINIA BEACH SCHOOLS
NCUA #	13772
BankRate Report	View
Year Chartered	1960
Employees	35
Primary Regulator
Assets and Liabilities
Assets	$80.31 million
Loans	$34.35 million
Deposits	$73.35 million
Equity Capital	$6.36 million
Loan Loss Allowance	$299,000
Unbacked Noncurrent Loans	$413,000
Historic Data - December 2010
Assets	$74.66 million
Equity Capital	$6.35 million
Loan Loss Allowance	$244,000
Unbacked Noncurrent Loans	$209,000
Profit Margin - Quarterly
Net Interest Margin	6.48%
Return on Assets	-0.16%
Return on Equity	-2.08%
Interest Income	$3.06 million
Non-Interest Income	$1.48 million

Institution Health

Overall Score:

5 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 Virginia Beach Schools Credit Union had $413,000 in non-current loans and owned real-estate with $6.66 million in equity and loan loss allowances on hand to cover it. This gives Virginia Beach Schools Credit Union a Texas Ratio of 6.20% 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 Virginia Beach Schools Credit Union held steady from 3.17% as of December 31, 2010 to 6.20% as of December 31, 2011, resulting in a negative change of 95.77%. This indicates that the balance sheet and financial strength for Virginia Beach Schools Credit Union has held steady in recent periods.
Deposit Growth
In the past year, Virginia Beach Schools Credit Union has increased its total deposits by $5.48 million, resulting in 8.08% 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 Virginia Beach Schools Credit Union has shown is excellent.
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. Virginia Beach Schools Credit Union has $80.31 million in assets with $6.66 million in equity, resulting in a capitalization level of 8.29%, which is average.

VBSFCU Great Customer Service
4 stars

- mm2 - Sunday, March 13, 2011 - 11:22 AM

As a teacher with the city of Virginia Beach, I feel lucky to belong to the credit union. No matter what branch I go to, everyone is helpful and friendly. When I needed financing for my new car, I checked with VBSFCU and they had some of the most competetive rates. They will periodically send you information about skipping a loan payment during the holidays, etc. This is really helpful during times that you could use a little extra cash! My only complaint is that the website is not a user friendly as it could be. I feel like there are way too many clicks needed to check my balance. However, when I checked my balance the other day, there was a message that said they were making some changes to the site...so hopefully this will no longer be an issue. All in all I enjoy the personal service offered by VBSFCU and would reccommend it to all who are eligible.