Dedicated to Deposits: Deals, Data, and Discussion
Featured Savings Rates
Featured Accounts
Overview / Commentary
804-672-0200
P.O. Box 9798
Richmond, VA 23228

Virginia United Methodist Credit Union is headquartered in Glen Allen and is the 86th largest credit union in the state of Virginia. It is also the 3,625th largest credit union in the nation. It was established in 1952 and as of March of 2014, it had grown to 6 employees and 4,348 members. Virginia United Methodist Credit Union has a C+ health rating.

Field of Membership Restrictions

Must be a member of any of the United Methodist churches organized by the Virginia Annual Conference. Also open to employees of organizations of the Virginia Annual Conference. - See Details

No reviews have been left for this bank yet. Be the first to review.



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 United Methodist Credit Union has a low asset base.

Texas Ratio

GRADE:
A+

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 United Methodist Credit Union had $101,000 in non-current loans and owned real-estate with $1.6 million in equity and loan loss allowances on hand to cover it. This gives Virginia United Methodist Credit Union a Texas Ratio of 6.32% which is excellent. Any bank with a Texas Ratio near or greater than 100% is considered at risk.

Texas Ratio Trend

GRADE:
A

The Texas Ratio for Virginia United Methodist Credit Union decreased dramatically from 10.49% as of March 31, 2013 to 6.32% as of March 31, 2014, resulting in a positive change of 39.74%.This indicates that the balance sheet and financial strength for Virginia United Methodist Credit Union has improved dramatically in recent periods.

Deposit Growth

GRADE:
D

In the past year, Virginia United Methodist Credit Union has decreased its total deposits by -$1.03 million, resulting in -5.54% 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 United Methodist 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 United Methodist Credit Union has $19.08 million in assets with $1.6 million in equity, resulting in a capitalization level of 8.38%, which is average.

Institution Statistics

Overall
NCUA #62536
Year Chartered1952
Employees6
Primary Regulator
Assets and Liabilities
Assets$19.08 million
Loans$9.24 million
Deposits$17.51 million
Equity Capital$1.52 million
Loan Loss Allowance$79,000
Unbacked Noncurrent Loans$82,000
Real Estate Owned$19,000
Historic Data - March 2013
Assets$20.08 million
Equity Capital$1.50 million
Loan Loss Allowance$145,000
Unbacked Noncurrent Loans$82,000
Real Estate Owned$0
Profit Margin - Quarterly
Net Interest Margin1.5%
Return on Assets-0.08%
Return on Equity-1.05%
Interest Income$164,000
Rates
Skip to rates for:

Always verify rates and promotions with the bank or credit union. We are not Virginia United Methodist Credit Union, we are a rate comparison website and can not provide official rates or promotions.

Virginia United Methodist Credit Union Savings Account Rates

DetailsAPYMINMAXPRODUCT
0.05%--Share Savings
0.05%--Organizational Share

Virginia United Methodist Credit Union Money Market Rates

DetailsAPYMINMAXPRODUCT
0.23%$100k-Money Market Account
0.08%$2,500-Organizational Money Market

Virginia United Methodist Credit Union CD Rates

DetailsAPYMINMAXPRODUCT
1.10%$1k-60 Month CD
0.85%$1k-48 Month CD
0.70%$1k-36 Month CD
0.52%$1k-24 Month CD
0.35%$1k-12 Month CD
0.23%$1k-6 Month CD

Virginia United Methodist Credit Union IRA Rates

DetailsAPYMINMAXPRODUCT
1.10%$1k-60 Month IRA
0.85%$1k-48 Month IRA
0.70%$1k-36 Month IRA
0.52%$1k-24 Month IRA
0.35%$1k-12 Month IRA
Locations


Virginia United Methodist Credit Union Locations
Branch Office10330 Staples Mill RdGlen Allen, VA 23060-3251