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Waynesboro Employees Credit Union,

Waynesboro Employees Credit Union,
Overview / Commentary
939A Fir St
Waynesboro, VA 22980

Waynesboro Employees Credit Union, is headquartered in Waynesboro and is the 130th largest credit union in the state of Virginia. It is also the 5,481st largest credit union in the nation. It was established in 1958 and as of March of 2014, it had grown to 2 employees and 1,271 members. Waynesboro Employees Credit Union, has a C health rating.

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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. Waynesboro Employees Credit Union, has a very low asset base.

Texas Ratio

GRADE:
B

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 Waynesboro Employees Credit Union, had $66,000 in non-current loans and owned real-estate with $401,000 in equity and loan loss allowances on hand to cover it. This gives Waynesboro Employees Credit Union, a Texas Ratio of 16.46% which is above average. Any bank with a Texas Ratio near or greater than 100% is considered at risk.

Texas Ratio Trend

GRADE:
A+

The Texas Ratio for Waynesboro Employees Credit Union, decreased dramatically from 29.49% as of March 31, 2013 to 16.46% as of March 31, 2014, resulting in a positive change of 44.19%.This indicates that the balance sheet and financial strength for Waynesboro Employees Credit Union, has improved dramatically in recent periods.

Deposit Growth

GRADE:
C-

In the past year, Waynesboro Employees Credit Union, has decreased its total deposits by $-110,000, resulting in -2.97% 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 Waynesboro Employees Credit Union, has shown is below average.

Capitalization

GRADE:
B+

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. Waynesboro Employees Credit Union, has $3.94 million in assets with $401,000 in equity, resulting in a capitalization level of 10.17%, which is above average.

Institution Statistics

Overall
NCUA #66936
Year Chartered1958
Employees2
Primary Regulator
Assets and Liabilities
Assets$3.94 million
Loans$2.16 million
Deposits$3.60 million
Equity Capital$335,000
Loan Loss Allowance$66,000
Unbacked Noncurrent Loans$66,000
Real Estate Owned$0
Historic Data - March 2013
Assets$4.11 million
Equity Capital$394,000
Loan Loss Allowance$57,000
Unbacked Noncurrent Loans$66,000
Real Estate Owned$0
Profit Margin - Quarterly
Net Interest Margin2.29%
Return on Assets-0.61%
Return on Equity-7.16%
Interest Income$58,000
Rates

Sorry, we do not have rate data for Waynesboro Employees Credit Union,

Locations


Waynesboro Employees Credit Union, Locations
Branch Office939A Fir StWaynesboro, VA 22980