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Romney Credit Union

Overview
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Romney Credit Union is a federal credit union based in Romney, West Virginia. It has been opened since 1955, for 65 years.

With around $6,450,000 in assets, Romney Credit Union is considered to be a small credit union.

About
Address 62 West Main Street
Romney, West Virginia 26757
Phone (304) 822-3116
Fax (304) 822-3116
CEO Beth R. Mcdonald
President of the Board Douglas Cowgill
Services Offered
Map
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Score Card
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65 years
Years in business
Opened in 1955
Well Capitalized
Net worth classification
Source: NCUA
1,114 members
Membership type: Community credit union
Below average number of members
371:1
Credit union member to staff ratio
371 per each FTE employee
Compared to 411:1 nationally
Average number of staff
$6,448,351
Total assets
Below average
1 branch
Compared with an average of 4 nationally and 2 in West Virginia
Average number of branches
0.10%
Savings interest rate
Compared to 0.3% nationally
Branches
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1 branch
Compared with an average of 4 nationally and 2 in West Virginia
Average number of branches
Romney Credit Union Branch Locations

Romney Federal Credit Union
62 W. Main Street
Romney, West Virginia 26757
No ATM
Members
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1,114 members
Membership type: Community credit union
Below average number of members

With 1,114 members, the Romney Credit Union is considered to be a small credit union. It is smaller than 79% of credit unions.

Fees
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$14
Average fee per member
The average fee per member at the Romney Credit Union is $14, which is low compared to most credit unions. This rate is lower than 78% of all credit unions.
Fees are lower than average

Credit unions, like banks, charge members various fees, such as overdraft fees, ATM fees, credit card fees, inactivity or dormat account fees, and more.

The average fee per member gives you a general sense of how much you might pay in fees as a member of the Romney Credit Union. Some credit unions tend to charge more fees, while others charge less.

Staff
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371:1
Credit union member to staff ratio
371 per each FTE employee
Compared to 411:1 nationally
Average number of staff
3 staff members
FTE (full-time equivalent)
0% of employees are part-time
3 full-time, 0 part-time

Romney Credit Union has 3 full-time staff members and 0 part-time staff members.

The number of members relative to staff members is an indication of how well staffed the credit union is. Romney Credit Union has around 371 members per staff, an average ratio compared to other credit unions. This is a somewhat well staffed credit union.

Assets
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$6,448,351
Total assets
Below average
Net worth
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Well Capitalized
Net worth classification
Source: NCUA
A well capitalized credit union has a net worth ratio of 7% or greater and also meets applicable risk-based net worth requirements, according to the National Credit Union Administration.
12.3%
Net worth ratio
A higher net worth ratio is better.
Compared to an average of 13.6% nationally

A credit union's net worth ratio is one of the most important metrics you should consider when deciding whether to join a credit union. Why? It's a measure of financial strength

The net worth ratio is equal to a credit union's net worth divided by its assets. According to the National Credit Union Administration, a minimum net worth ratio of 7% is required to be considered to be a well capitalized credit union.

Loans & leases
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$9,608
Average loan and lease size
Loan & lease sizes are average sized. They are bigger than at 45% of credit unions.

Romney Credit Union holds a total of $3,930,000 in loans and leases, which is about $9,608 per member on average.

Savings interest rate
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0.10%
Savings interest rate
Compared to 0.3% nationally

A credit union share account is an account at a credit union. It's called a share account because the credit union is member owned and as a result, members own shares in the credit union.

A share savings account pays you interest on your savings, similar to a savings account at a bank. The interest you receive can vary. Romney Credit Union pays 0.10%.

Loan rates
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9.50%
Unsecured non-credit card loan interest rate
Compared to 11.2% nationally
3.50%
Other secured non-real estate loans and lines of credit interest rate
Compared to 5.3% nationally
Car loan rates
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2.49%
New car loan rate
Compared to 4.0% nationally
7.99%
Used car loan rate
Compared to 5.2% nationally
Mortgage rates
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10.00%
Mortgage rate (secured by 1st lien)
Compared to 3.3% nationally
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