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Overview / Commentary
3851 Piedmont Rd
Huntington, WV 25704-1930

Waycose Credit Union is headquartered in Huntington and is the 75th largest credit union in the state of West Virginia. It is also the 5,623rd largest credit union in the nation. It was established in 1982 and as of March of 2014, it had grown to 1,063 members. Waycose Credit Union has a C+ health rating.

Field of Membership Restrictions

Must be an employee or pensioner from the Wayne County Board of Education. - See Details

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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. Waycose Credit Union has a very 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 Waycose Credit Union had $24,000 in non-current loans and owned real-estate with $452,000 in equity and loan loss allowances on hand to cover it. This gives Waycose Credit Union a Texas Ratio of 5.31% 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 Waycose Credit Union decreased dramatically from 8.43% as of March 31, 2013 to 5.31% as of March 31, 2014, resulting in a positive change of 36.98%.This indicates that the balance sheet and financial strength for Waycose Credit Union has improved dramatically in recent periods.

Deposit Growth


In the past year, Waycose Credit Union has decreased its total deposits by $-281,000, resulting in -8.9% 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 Waycose Credit Union has shown is below average.



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. Waycose Credit Union has $3.31 million in assets with $452,000 in equity, resulting in a capitalization level of 13.67%, which is excellent.

Institution Statistics

NCUA #24792
Year Chartered1982
Primary Regulator
Assets and Liabilities
Assets$3.31 million
Loans$1.26 million
Deposits$2.88 million
Equity Capital$422,000
Loan Loss Allowance$30,000
Unbacked Noncurrent Loans$24,000
Real Estate Owned$0
Historic Data - March 2013
Assets$3.61 million
Equity Capital$438,000
Loan Loss Allowance$13,000
Unbacked Noncurrent Loans$24,000
Real Estate Owned$0
Profit Margin - Quarterly
Return on Assets0%
Return on Equity0%
Interest Income$26,000

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Waycose Credit Union Locations
Branch Office3851 Piedmont RdHuntington, WV 25704-1930