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Virginia State University Credit Union

Virginia State University Credit Union
Overview / Commentary
804-526-6708
3401 Boisseau St
South Chesterfi, VA 23803

Virginia State University Credit Union is headquartered in South Chesterfield and is the 101st largest credit union in the state of Virginia. It is also the 4,421st largest credit union in the nation. It was established in 1939 and as of March of 2014, it had grown to 6 employees and 2,299 members. Virginia State University Credit Union has a C- health rating.

Field of Membership Restrictions

Must be a faculty, staff, student or alumni of Virginia State University. - See Details

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Health

Data for Q1 2014

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. Virginia State University Credit Union has a low asset base.

Texas Ratio

GRADE:
C-

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 Virginia State University Credit Union had $398,000 in non-current loans and owned real-estate with $776,000 in equity and loan loss allowances on hand to cover it. This gives Virginia State University Credit Union a Texas Ratio of 51.29% which is below average. Any bank with a Texas Ratio near or greater than 100% is considered at risk.

Texas Ratio Trend

GRADE:
B

The Texas Ratio for Virginia State University Credit Union decreased slightly from 57.62% as of March 31, 2013 to 51.29% as of March 31, 2014, resulting in a positive change of 10.99%.This indicates that the balance sheet and financial strength for Virginia State University Credit Union has improved slightly in recent periods.

Deposit Growth

GRADE:
C-

In the past year, Virginia State University Credit Union has decreased its total deposits by $-370,000, resulting in -3.7% 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 State University Credit Union has shown is below 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. Virginia State University Credit Union has $10.52 million in assets with $776,000 in equity, resulting in a capitalization level of 7.37%, which is below average.

Institution Statistics

Overall
NCUA #3029
Year Chartered1939
Employees6
Primary Regulator
Assets and Liabilities
Assets$10.53 million
Loans$6.93 million
Deposits$9.63 million
Equity Capital$684,000
Loan Loss Allowance$92,000
Unbacked Noncurrent Loans$329,000
Real Estate Owned$69,000
Historic Data - March 2013
Assets$10.90 million
Equity Capital$745,000
Loan Loss Allowance$95,000
Unbacked Noncurrent Loans$329,000
Real Estate Owned$0
Profit Margin - Quarterly
Net Interest Margin2.2%
Return on Assets0.53%
Return on Equity8.19%
Interest Income$160,000
Rates

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Locations


Virginia State University Credit Union Locations
Branch Office3401 Boisseau StSouth Chesterfield, VA 23803-2021