How successful a credit union is at earning money affects its safety and soundness. A credit union can retain its earnings, giving a boost to its capital buffer, or use them to deal with 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.
MAGNIFY received below-average marks on Bankrate's test of earnings, achieving a score of 6 out of a possible 30.
The credit union had an earnings ratio of 2.00 percent in our test, higher than the average for all credit unions, an indication that it's doing better than its peers in this area.