Safe and Sound

DADE COUNTY

Sweetwater, FL
5
Star Rating
Sweetwater, FL-based DADE COUNTY is an NCUA-insured credit union founded in 1991. Regulatory filings show the credit union having $720.6 million in assets, as of June 30, 2017.

With 260 full-time employees, the credit union has amassed loans and leases worth $418.9 million. Its 93,274 members currently have $629.7 million in shares with the credit union.

Overall, Bankrate believes that, as of June 30, 2017, DADE COUNTY exhibited a superior condition, earning a full 5 stars for safety and soundness. Keep reading for an analysis of how the credit union faired on the three major criteria Bankrate used to grade U.S. credit unions on safety and soundness.

WHAT IS
SAFE AND SOUND?

Find out

THE INSTITUTION'S SCORE

Capital Score

Capital is a crucial measurement of a credit union's financial fortitude. It acts as a cushion against losses and provides protection for members when a credit union is experiencing financial trouble. When it comes to safety and soundness, the higher the capital, the better.

DADE COUNTY fell short of the national average of 15.26 on our test to measure the adequacy of a credit union's capital, receiving a score of 12 out of a possible 30 points.

DADE COUNTY appears to be weaker than its peers in this area, with a capitalization ratio of 11.00 percent in our test, below the average for all credit unions.

Asset Quality Score

In this test, Bankrate tries to estimate the effect of troubled assets, such as past-due loans, on the credit union's capitalization and allocated loan loss reserves.

Having large numbers of these kinds of assets suggests a credit union may eventually have to use capital to cover losses, diminishing its cushion of equity. It also means that there are likely to be many assets that are in non-accrual status and thus aren't earning interest for the credit union, resulting in depressed earnings and potentially more risk of a future failure.

On Bankrate's asset quality test, DADE COUNTY scored 40 out of a possible 40 points, beating the national average of 38.15 points.

A below-average ratio of problem assets of 2.00 percent in our test was potentially indicative of greater financial strength than other credit unions.

Earnings score

How successful a credit union is at making money affects its safety and soundness. Earnings may be retained by the credit union, increasing its capital cushion, or be used to deal with problematic loans, potentially making the credit union more resilient in times of trouble. Credit unions that are losing money, however, have less ability to do those things.

On Bankrate's earnings test, DADE COUNTY scored 18 out of a possible 30, exceeding the national average of 10.31.

One sign that the credit union is doing better than its peers in this area was its earnings ratio of 8.00 percent in our test, above the average for all credit unions.

WHAT IS SAFE & SOUND?

Bankrate.com's Safe & Sound Ratings provide a star rating system to evaluate the current financial status of financial institutions. The information gathered about banks, credit unions and thrifts is updated as set forth in the Terms of Use of Safe & Sound Ratings and Reports. The Safe & Sound Ratings information is grouped by categories of banks, thrifts and credit unions.

Scoring methodology

Bankrate.com evaluates the financial condition of institutions and assigns a one- to five-star rating for each with five stars representing the highest rating. Institutions with satisfactory performance will generally receive a rating of three or more stars. The majority of institutions fall into the three- to four-star range. An institution with an "NR" rating may be too new to rate or may have limited the publicly available information in their regulatory filings. The "NR" is not an indication of financial strength or weakness. The Safe & Sound rating is believed to be reliable, but the information is not guaranteed. In addition, events since the information was collected may have altered the institution's financial condition.