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Overview / Commentary
703-750-4394
6801 Industrial Rd
Springfield, VA 22151

Washington Gas Light Credit Union is headquartered in Springfield and is the 43rd largest credit union in the state of Virginia. It is also the 1,583rd largest credit union in the nation. It was established in 1939 and as of December of 2013, it had grown to 18 employees and 8,096 members. Washington Gas Light Credit Union's money market rates are 14% higher than the national average, and it has a A health rating.

Field of Membership Restrictions

Must be an employee of WGL Holdings, Inc. - See Details

Reviews (1)

I Love This Credit Union...

I have been a member since 1993 and think WGLFCU is the best. I have financed every car I've ever owned with them. Great rates and great member service!



Health

Data for Q4 2013

Institution Health

A
Additional Factors: Institutions with a small asset base or a short operating history can represent an instability risk beyond what their financial ratios indicate. Washington Gas Light Credit Union has a relatively low asset base.

Texas Ratio

GRADE:
A+

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, 2013 Washington Gas Light Credit Union had $302,000 in non-current loans and owned real-estate with $13.24 million in equity and loan loss allowances on hand to cover it. This gives Washington Gas Light Credit Union a Texas Ratio of 2.28% which is excellent. Any bank with a Texas Ratio near or greater than 100% is considered at risk.

Texas Ratio Trend

GRADE:
C+

The Texas Ratio for Washington Gas Light Credit Union experienced no significant changes from 1.00% as of December 31, 2012 to 2.28% as of December 31, 2013, resulting in a negative change of 127.54%. This indicates that the balance sheet and financial strength for Washington Gas Light Credit Union has had no significant changes in recent periods.

Deposit Growth

GRADE:
A+

In the past year, Washington Gas Light Credit Union has increased its total deposits by $5.91 million, resulting in 8.25% 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 Washington Gas Light Credit Union has shown is excellent.

Capitalization

GRADE:
A+

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. Washington Gas Light Credit Union has $90.87 million in assets with $13.24 million in equity, resulting in a capitalization level of 14.56%, which is excellent.

Institution Statistics

Overall
NCUA #3323
Year Chartered1939
Employees18
Primary Regulator
Assets and Liabilities
Assets$90.87 million
Loans$31.33 million
Deposits$77.51 million
Equity Capital$12.86 million
Loan Loss Allowance$377,000
Unbacked Noncurrent Loans$302,000
Real Estate Owned$0
Historic Data - December 2012
Assets$87.89 million
Equity Capital$16.00 million
Loan Loss Allowance$355,000
Unbacked Noncurrent Loans$302,000
Real Estate Owned$0
Profit Margin - Quarterly
Net Interest Margin5.5%
Return on Assets0.16%
Return on Equity1.12%
Interest Income$2.86 million
Rates
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Washington Gas Light Credit Union Savings Account Rates

DetailsAPYMINMAXPRODUCT
0.35%--IRA Share Account
0.35%--Roth IRA Share
0.10%$50-Share Savings Account
0.10%--Holiday Club Account
0.10%--Young Saver Club
0.10%--Teen Savers Club
0.10%--Vacation Club Account
0.10%--Tax Club Account

Washington Gas Light Credit Union Money Market Rates

DetailsAPYMINMAXPRODUCT
0.50%$50k-Money Market Account

Washington Gas Light Credit Union CD Rates

DetailsAPYMINMAXPRODUCT
1.67%$100k-5 Year Jumbo CD
1.51%$100k-4 Year Jumbo CD
1.26%$1k-5 Year CD
1.06%$1k-4 year CD
1.06%$100k- 2 Year Jumbo CD
1.06%$100k-3 Year Jumbo CD
0.80%$1k-2 Year CD
0.80%$1k-3 Year CD
0.75%$1k-1 Year CD
0.75%$100k-1 Year Jumbo CD
0.60%$100k-6 Month Jumbo CD
0.35%$1k-6 Month CD

Washington Gas Light Credit Union IRA Rates

DetailsAPYMINMAXPRODUCT
1.87%$100k-5 Year Jumbo IRA (Traditional,Roth)
1.77%$100k-4 Year Jumbo IRA (Traditional,Roth)
1.41%$1k-5 Year IRA (Traditional,Roth)
1.31%$100k-2 Year Jumbo IRA (Traditional,Roth)
1.31%$100k-3 Year Jumbo IRA (Traditional,Roth)
1.26%$1k-4 Year IRA (Traditional,Roth)
1.06%$1k-2 Year IRA (Traditional,Roth)
1.06%$1k-3 Year IRA (Traditional,Roth)
1.01%$100k-1 Year Jumbo IRA (Traditional,Roth)
0.85%$100k-6 Month Jumbo IRA (Traditional,Roth)
0.75%$1k-1 Year IRA (Traditional,Roth)
0.60%$1k-6 Month IRA (Traditional,Roth)
Locations


Washington Gas Light Credit Union Locations
Branch Office6801 Industrial RdSpringfield, VA 22151