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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 3,142nd largest credit union in the nation. It was established in 1978 and as of March of 2014, it had grown to 13 employees and 4,572 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 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. Element Federal Credit Union has a 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 Element Federal Credit Union had $334,000 in non-current loans and owned real-estate with $3.61 million in equity and loan loss allowances on hand to cover it. This gives Element Federal Credit Union a Texas Ratio of 9.26% 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 Element Federal Credit Union experienced no significant changes from 7.15% as of March 31, 2013 to 9.26% as of March 31, 2014, resulting in a negative change of 29.60%. 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 -$1.43 million, resulting in -5.82% 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 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. Element Federal Credit Union has $26.56 million in assets with $3.61 million in equity, resulting in a capitalization level of 13.58%, which is excellent.

Institution Statistics

NCUA #23162
Year Chartered1978
Primary Regulator
Assets and Liabilities
Assets$26.56 million
Loans$21.65 million
Deposits$23.19 million
Equity Capital$3.17 million
Loan Loss Allowance$437,000
Unbacked Noncurrent Loans$334,000
Real Estate Owned$0
Historic Data - March 2013
Assets$27.94 million
Equity Capital$2.91 million
Loan Loss Allowance$409,000
Unbacked Noncurrent Loans$334,000
Real Estate Owned$0
Profit Margin - Quarterly
Net Interest Margin1.66%
Return on Assets0.84%
Return on Equity7.07%
Interest Income$406,000

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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 - Qualifying
0.01%--Infinite Checking - Non Qualifying

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