Overview / Commentary
Acclaim Federal Credit Union is headquartered in Greensboro and is the 37th largest credit union in the state of North Carolina. It is also the 2,338th largest credit union in the nation. It was established in 1979 and as of September of 2022, it had grown to 15 employees and 5,920 members at 2 locations. Acclaim Federal Credit Union has a B+ health rating.
Field of Membership Restrictions
Acclaim Federal Credit Union is open to employees and affiliates of VF Corporation, Kontoor, Vanity Fair Brands, Dynamic Quest, Paparazzi, Iron Eagle Tire & Body, Guilford Realty, American Consumer Council, Randall Printing, 1618, Avanti Salon & Spa, Fanatics, Tencarva Machinery Company or RD Graham.
See current membership details
Health
B+
Data as of Q3 2022
Learn why bank health mattersAdditional Factors: Institutions with a small asset base, a short operating history, or negative return on assets can represent an instability risk beyond what their financial ratios indicate. Acclaim Federal Credit Union has a relatively low asset base.
Health Grade Components
| Overall | |
|---|---|
| NCUA # | 23386 |
| Year Chartered | 1979 |
| Employees | 15 |
| Primary Regulator | |
| Profit Margin | |
|---|---|
| Return on Assets - YTD | 1.3% |
| Return on Equity - YTD | 15.19% |
| Annual Interest Income | $1.8MM |
| Assets and Liabilities | ||
|---|---|---|
| Assets | Q3 2022vs Q3 2021 | $60.2MM$56.7MM |
| Loans | Q3 2022vs Q3 2021 | $45.4MM$39.1MM |
| Deposits | Q3 2022vs Q3 2021 | $54.5MM$51.5MM |
| Equity Capital | Q3 2022vs Q3 2021 | $5.1MM$4.9MM |
| Loan Loss Allowance | Q3 2022vs Q3 2021 | $446.00K$593.00K |
| Unbacked Noncurrent Loans | Q3 2022vs Q3 2021 | $283.00K$412.00K |
| Real Estate Owned | Q3 2022vs Q3 2021 | $0$0 |