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Overview / Commentary
6801 Industrial Rd
Springfield, VA 22151

Washington Gas Light Credit Union is headquartered in Springfield and is the 44th largest credit union in the state of Virginia. It is also the 1,598th largest credit union in the nation. It was established in 1939 and as of March of 2014, it had grown to 17 employees and 8,164 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!


Data for Q1 2014

Institution Health

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


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 Washington Gas Light Credit Union had $298,000 in non-current loans and owned real-estate with $14.23 million in equity and loan loss allowances on hand to cover it. This gives Washington Gas Light Credit Union a Texas Ratio of 2.09% 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 Washington Gas Light Credit Union experienced no significant changes from 0.70% as of March 31, 2013 to 2.09% as of March 31, 2014, resulting in a negative change of 201.28%. 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


In the past year, Washington Gas Light Credit Union has increased its total deposits by $4.72 million, resulting in 6.45% 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.



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 $92.3 million in assets with $14.23 million in equity, resulting in a capitalization level of 15.41%, which is excellent.

Institution Statistics

NCUA #3323
Year Chartered1939
Primary Regulator
Assets and Liabilities
Assets$92.30 million
Loans$31.32 million
Deposits$77.99 million
Equity Capital$13.82 million
Loan Loss Allowance$410,000
Unbacked Noncurrent Loans$298,000
Real Estate Owned$0
Historic Data - March 2013
Assets$92.25 million
Equity Capital$15.59 million
Loan Loss Allowance$378,000
Unbacked Noncurrent Loans$298,000
Real Estate Owned$0
Profit Margin - Quarterly
Net Interest Margin1.37%
Return on Assets0.12%
Return on Equity0.78%
Interest Income$726,000
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Washington Gas Light Credit Union Savings Account Rates

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

0.50%$50k-Money Market Account

Washington Gas Light Credit Union CD Rates

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

1.87%$100k-5 Year Jumbo IRA
1.77%$100k-4 Year Jumbo IRA
1.41%$1k-5 Year IRA
1.31%$100k-2 Year Jumbo IRA
1.31%$100k-3 Year Jumbo IRA
1.26%$1k-4 Year IRA
1.06%$1k-2 Year IRA
1.06%$1k-3 Year IRA
1.01%$100k-1 Year Jumbo IRA
0.85%$100k-6 Month Jumbo IRA
0.75%$1k-1 Year IRA
0.60%$1k-6 Month IRA

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