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Overview / Commentary
3418 MacCorkle Ave SE
Charleston, WV 25304

Element Federal Credit Union is headquartered in CHARLESTON and is the 28th largest credit union in the state of West Virginia. It is also the 3,107th largest credit union in the nation. It was established in 1978 and as of December of 2013, it had grown to 12 employees and 4,621 members. Element Federal Credit Union's savings rates are 73% higher than the national average, and it has a C+ health rating.

Field of Membership Restrictions

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Data for Q4 2013

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. Element Federal Credit Union has a low asset base.

Texas Ratio


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 Element Federal Credit Union had $545,000 in non-current loans and owned real-estate with $3.55 million in equity and loan loss allowances on hand to cover it. This gives Element Federal Credit Union a Texas Ratio of 15.35% which is above average. Any bank with a Texas Ratio near or greater than 100% is considered at risk.

Texas Ratio Trend


The Texas Ratio for Element Federal Credit Union experienced no significant changes from 10.73% as of December 31, 2012 to 15.35% as of December 31, 2013, resulting in a negative change of 43.03%. This indicates that the balance sheet and financial strength for Element Federal Credit Union has had no significant changes in recent periods.

Deposit Growth


In the past year, Element Federal Credit Union has decreased its total deposits by $-221,000, resulting in -0.94% 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 Element Federal Credit Union has shown is 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. Element Federal Credit Union has $26.56 million in assets with $3.55 million in equity, resulting in a capitalization level of 13.37%, which is excellent.

Institution Statistics

NCUA #23162
Year Chartered1978
Primary Regulator
Assets and Liabilities
Assets$26.56 million
Loans$22.33 million
Deposits$23.23 million
Equity Capital$3.12 million
Loan Loss Allowance$436,000
Unbacked Noncurrent Loans$545,000
Real Estate Owned$0
Historic Data - December 2012
Assets$26.64 million
Equity Capital$2.86 million
Loan Loss Allowance$386,000
Unbacked Noncurrent Loans$545,000
Real Estate Owned$0
Profit Margin - Quarterly
Net Interest Margin6.56%
Return on Assets0.96%
Return on Equity8.22%
Interest Income$1.69 million

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Element Federal Credit Union Savings Account Rates

0.90%--IRA Share
0.10%$25-Holiday Club
0.10%$25-Vacation Club
0.10%--Special Savings

Element Federal Credit Union Money Market Rates

0.50%$50k- Money Market

Element Federal Credit Union Checking Account Rates

5.00%-$2kInfinite Checking
0.01%--Infinite Checking

Element Federal Credit Union CD Rates

1.10%$100-5 Year CD
0.95%$100-3 Year CD
0.75%$100-2 Year CD
0.45%$100-1 Year CD
0.35%$100-6 Month CD

Element Federal Credit Union IRA Rates

1.10%$100-5 Year IRA
0.95%$100-3 Year IRA
0.75%$100-2 Year IRA
0.45%$100-1 Year IRA
0.35%$100-6 Month IRA

Element Federal Credit Union Locations
Branch Office3418 MacCorkle Ave SECharleston, WV 25304
Branch Office350 Capitol St Rm 156Charleston, WV 25301