Overview / Commentary
HopeSouth Credit Union is headquartered in Abbeville and is the 35th largest credit union in the state of South Carolina. It is also the 2,769th largest credit union in the nation. It was established in 1971 and as of September of 2024, it had grown to 9 employees and 3,608 members at 3 locations. HopeSouth Credit Union has a B+ health rating.
Health
B+
Data as of Q3 2024
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. HopeSouth Credit Union has a low asset base.
Health Grade Components
| Overall | |
|---|---|
| NCUA # | 20824 |
| Year Chartered | 1971 |
| Employees | 9 |
| Primary Regulator | |
| Profit Margin | |
|---|---|
| Return on Assets - YTD | 2.03% |
| Return on Equity - YTD | 7.82% |
| Annual Interest Income | $1.8MM |
| Assets and Liabilities | ||
|---|---|---|
| Assets | Q3 2024vs Q3 2023 | $34.8MM$33MM |
| Loans | Q3 2024vs Q3 2023 | $14.4MM$14.3MM |
| Deposits | Q3 2024vs Q3 2023 | $25.6MM$24.7MM |
| Equity Capital | Q3 2024vs Q3 2023 | $8.9MM$7.9MM |
| Loan Loss Allowance | Q3 2024vs Q3 2023 | $364K$175K |
| Unbacked Noncurrent Loans | Q3 2024vs Q3 2023 | $288K$362K |
| Real Estate Owned | Q3 2024vs Q3 2023 | $0$0 |