Beach Municipal Federal Credit Union
Overview / Commentary
Beach Municipal Federal Credit Union is headquartered in Virginia Beach and is the 41st largest credit union in the state of Virginia. It is also the 1,406th largest credit union in the nation. It was established in 1970 and as of March of 2024, it had grown to 34 employees and 9,245 members at 2 locations. Beach Municipal Federal Credit Union has a B+ health rating.
Field of Membership Restrictions
Must be an employee, appointed member or volunteer of the City of Virginia Beach.
See current membership details
Health
B+
Data as of Q1 2024
Learn why bank health mattersHealth Grade Components
| Overall | |
|---|---|
| NCUA # | 20394 |
| Year Chartered | 1970 |
| Employees | 34 |
| Primary Regulator | |
| Profit Margin | |
|---|---|
| Return on Assets - YTD | 0.99% |
| Return on Equity - YTD | 7.96% |
| Annual Interest Income | $1.7MM |
| Assets and Liabilities | ||
|---|---|---|
| Assets | Q1 2024vs Q1 2023 | $166.9MM$169.8MM |
| Loans | Q1 2024vs Q1 2023 | $88MM$76.9MM |
| Deposits | Q1 2024vs Q1 2023 | $145.6MM$151.4MM |
| Equity Capital | Q1 2024vs Q1 2023 | $20.5MM$17.6MM |
| Loan Loss Allowance | Q1 2024vs Q1 2023 | $278K$260K |
| Unbacked Noncurrent Loans | Q1 2024vs Q1 2023 | $847K$523K |
| Real Estate Owned | Q1 2024vs Q1 2023 | $213K$0 |