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Overview / Commentary
347 N Court Ave
Covington, VA 24426

Weccu Credit Union is headquartered in Covington and is the 55th largest credit union in the state of Virginia. It is also the 1,830th largest credit union in the nation. It was established in 1953 and as of March of 2014, it had grown to 15 employees and 6,212 members. Weccu Credit Union has a B+ health rating.

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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. Weccu 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 Weccu Credit Union had $85,000 in non-current loans and owned real-estate with $7.8 million in equity and loan loss allowances on hand to cover it. This gives Weccu Credit Union a Texas Ratio of 1.09% 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 Weccu Credit Union experienced no significant changes from 0.40% as of March 31, 2013 to 1.09% as of March 31, 2014, resulting in a negative change of 175.41%. This indicates that the balance sheet and financial strength for Weccu Credit Union has had no significant changes in recent periods.

Deposit Growth


In the past year, Weccu Credit Union has increased its total deposits by $1.08 million, resulting in 1.69% 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 Weccu Credit Union has shown is above 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. Weccu Credit Union has $74.96 million in assets with $7.8 million in equity, resulting in a capitalization level of 10.41%, which is above average.

Institution Statistics

NCUA #66967
Year Chartered1953
Primary Regulator
Assets and Liabilities
Assets$74.96 million
Loans$20.63 million
Deposits$65.29 million
Equity Capital$7.68 million
Loan Loss Allowance$125,000
Unbacked Noncurrent Loans$85,000
Real Estate Owned$0
Historic Data - March 2013
Assets$74.47 million
Equity Capital$8.18 million
Loan Loss Allowance$165,000
Unbacked Noncurrent Loans$85,000
Real Estate Owned$0
Profit Margin - Quarterly
Return on Assets0.05%
Return on Equity0.52%
Interest Income$362,000

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Weccu Credit Union Locations
Branch OfficeWestvaco RoadLow Moor, VA 24457
Branch Office347 N Court AveCovington, VA 24426