Safe and Sound

DEL-ONE

Dover, DE
4
Star Rating
DEL-ONE is a Dover, DE-based, NCUA-insured credit union started in 1960. Regulatory filings show the credit union having $444.4 million in assets, as of June 30, 2017.

Members have $362.2 million on deposit tended by 137 full-time employees. With that footprint, the credit union holds loans and leases worth $362.2 million. DEL-ONE's 58,296 members currently have $380.9 million in shares with the credit union.

Overall, Bankrate believes that, as of June 30, 2017, DEL-ONE exhibited a good condition, earning 4 out of 5 stars for safety and soundness. Here's a breakdown of how the credit union faired on the three important criteria Bankrate used to score American credit unions.

WHAT IS
SAFE AND SOUND?

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THE INSTITUTION'S SCORE

Capital Score

Capital acts as a bulwark against losses and provides protection for members when a credit union is experiencing economic trouble. It follows then that an institution's level of capital is a useful measurement of its financial strength. When it comes to safety and soundness, more capital is better.

On our test to measure capital adequacy, DEL-ONE received a score of 8 out of a possible 30 points, coming in below the national average of 15.26.

DEL-ONE had a capitalization ratio of 9.00 percent in our test, below the average for all credit unions, suggesting that it's weaker than its peers.

Asset Quality Score

This test's purpose is to estimate how the credit union's reserves set aside to cover loan losses, as well as overall capitalization could be affected by problem assets, such as unpaid loans.

Having extensive holdings of these kinds of assets means a credit union could eventually have to use capital to absorb losses, cutting down on its cushion of equity. Many of those assets are also likely to be in non-accrual status and no longer earning money, resulting in depressed earnings and potentially more risk of a failure in the future.

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

DEL-ONE's ratio of troubled assets was 7.00 percent in our test, identical to the national average.

Earnings score

A credit union's ability to earn money affects its long-term survivability. Earnings can be retained by the credit union, boosting its capital cushion, or be used to address problematic loans, likely making the credit union better able to withstand financial shocks. Credit unions that are losing money, however, are less able to do those things.

DEL-ONE scored 18 out of a possible 30 on Bankrate's test of earnings, above the national average of 10.31.

DEL-ONE had an earnings ratio of 9.00 percent in our test, better than the average for all credit unions, suggesting that it's running ahead of its peers in this area.

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.