Salem VA Credit Union (VA)


Overview / Commentary
540-344-4419
112 W Main St
Salem, VA 24153

Salem VA Credit Union (VA) is headquartered in Salem and is the 48th largest credit union in the state of Virginia. It is also the 1,910th largest credit union in the nation. It was established in 1936 and as of September of 2024, it had grown to 21 employees and 8,230 members at 3 locations. Salem VA Credit Union (VA)'s money market rates are 5X the national average, and it has a B+ health rating.

Field of Membership Restrictions

Membership in Salem VA Credit Union is open to those who work, worship or live in the city of Salem, the town of Vinton, Roanoke City or Roanoke County in Virginia.
See current membership details

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Health
B+
Additional 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. Salem VA Credit Union (VA) has a relatively low asset base.

Health Grade Components

Overall
NCUA #1127
Year Chartered1936
Employees21
Primary Regulator
Profit Margin
Return on Assets - YTD1.53%
Return on Equity - YTD14.42%
Annual Interest Income$3.2MM
Assets and Liabilities
AssetsQ3 2024vs Q3 2023$91.1MM$94.6MM
LoansQ3 2024vs Q3 2023$61.6MM$62MM
DepositsQ3 2024vs Q3 2023$78MM$83.4MM
Equity CapitalQ3 2024vs Q3 2023$9.7MM$8MM
Loan Loss AllowanceQ3 2024vs Q3 2023$329K$439K
Unbacked Noncurrent LoansQ3 2024vs Q3 2023$310K$192K
Real Estate OwnedQ3 2024vs Q3 2023$0$0
Rates
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* The APY shown varies based on the deposit amount. Expand the listing to see APYs for other deposit amounts.

Salem VA Credit Union (VA) Savings Account Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
0.10%*$5k*-Regular Shares (Savings)
OTHER TIERS: 0.05% $5 - $5k
0.10%$0-IRA Share
0.01%$0-Vacation Club
0.01%$0-Christmas Club

Salem VA Credit Union (VA) Money Market Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
2.22%*$50k*-Money Market Shares
OTHER TIERS: 1.41% $10k - $25k | 1.61% $25k - $50k

Salem VA Credit Union (VA) CD Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
4.30%*$50k*-12 Month CD
OTHER TIERS: 3.80% $1k - $25k | 4.11% $25k - $50k
4.00%*$50k*-6 Month CD
OTHER TIERS: 3.60% $10k - $25k | 3.80% $25k - $50k
3.70%*$50k*-24 Month CD
OTHER TIERS: 3.40% $1k - $10k | 3.51% $10k - $25k | 3.60% $25k - $50k
3.60%*$50k*-36 Month CD
OTHER TIERS: 3.30% $1k - $10k | 3.40% $10k - $25k | 3.51% $25k - $50k
3.60%*$50k*-48 Month CD
OTHER TIERS: 3.30% $1k - $10k | 3.40% $10k - $25k | 3.51% $25k - $50k
3.60%*$50k*-60 Month CD
OTHER TIERS: 3.30% $1k - $10k | 3.40% $10k - $25k | 3.51% $25k - $50k

Salem VA Credit Union (VA) IRA Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
4.30%*$50k*-12 Month IRA
OTHER TIERS: 3.80% $1k - $25k | 4.11% $25k - $50k
4.00%*$50k*-6 Month IRA
OTHER TIERS: 3.60% $10k - $25k | 3.80% $25k - $50k
3.70%*$50k*-24 Month IRA
OTHER TIERS: 3.40% $1k - $10k | 3.51% $10k - $25k | 3.60% $25k - $50k
3.60%*$50k*-36 Month IRA
OTHER TIERS: 3.30% $1k - $10k | 3.40% $10k - $25k | 3.51% $25k - $50k
3.60%*$50k*-48 Month IRA
OTHER TIERS: 3.30% $1k - $10k | 3.40% $10k - $25k | 3.51% $25k - $50k
3.60%*$50k*-60 Month IRA
OTHER TIERS: 3.30% $1k - $10k | 3.40% $10k - $25k | 3.51% $25k - $50k
Locations


Salem VA Credit Union (VA) Locations
Branch Office1970 Roanoke Blvd Bldg 77, Rm 12Salem, VA 24153
Branch Office2042 Electric RdRoanoke, VA 24018
Branch Office112 W Main StSalem, VA 24153

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