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Letter portraitLegal landscapeQuarterYTD

Virginia Credit Union, Inc.,

Richmond, VA · Charter 66836

NCUA · 23 branches

Q2 2024

$5.3BAssets
$3.8BLoans
$4.5BShares
$565.8MNet Worth

NIM

NIM decomposition not available for credit unions

Non-interest income vs. expense

Non-interest trend not available for credit unions

Executive Summary

  • Earnings: ROA of 0.40%, down 21 bps year over year; NIM at 3.43%.
  • Asset quality: problem loans at 1.08% of loans (+42 bps YoY).
  • Capital: net worth / assets of 10.68%, down 6 bps from a year ago.
  • Funding: loans stand at 85.76% of shares as of Q2 2024.

Financial Results

Return on Assets (quarter, annualized)

0.40%-21 bps YoY

Net Interest Margin (quarter, annualized)

3.43%+17 bps YoY

Efficiency Ratio (quarter, annualized)

78.68%+247 bps YoY

Net Worth / Assets

10.68%-6 bps YoY

Discrete quarter, annualized.

MetricQ2 2023Q3 2023Q4 2023Q1 2024Q2 2024YoY ΔTrend
Earnings
Return on Assets0.61%0.51%0.42%0.38%0.40%-21 bps
Return on Equity5.65%4.75%4.02%3.54%3.70%-195 bps
Net Interest Margin3.26%3.22%3.16%3.35%3.43%+17 bps
Efficiency Ratio76.22%76.65%77.29%80.06%78.68%+247 bps
Growth
Asset Growth (YoY)3.54%2.69%4.68%2.65%2.87%-66 bps
Loan Growth (YoY)22.22%18.70%14.60%11.91%8.18%-1,404 bps
Share Growth (YoY)1.42%-0.56%-1.08%-0.16%0.41%-101 bps
Asset Quality
Delinquent Loans / Loans0.67%0.75%0.86%1.00%1.08%+42 bps
Net Charge-Offs / Loansn/an/an/an/an/an/an/a
Allowance / Loans0.00%0.00%0.00%0.00%0.00%0 bps
Capital
Risk-Based Capital10.74%10.75%10.43%10.60%10.68%-6 bps
Net Worth / Assets10.74%10.75%10.43%10.60%10.68%-6 bps
Liquidity & Funding
Loans / Shares79.60%82.02%84.69%83.72%85.76%+616 bps
Liquid Assets / Assets0.00%0.00%0.00%0.00%0.00%0 bps