Safe and Sound

MARINE

JACKSONVILLE, NC
3
Star Rating
MARINE is an NCUA-insured credit union started in 1959 and currently based in JACKSONVILLE, NC. As of June 30, 2017, the credit union held assets of $728.6 million.

Thanks to the work of 229 full-time employees, the credit union currently holds loans and leases worth $491.2 million. MARINE's 90,763 members currently have $659.8 million in shares with the credit union.

Overall, Bankrate believes that, as of June 30, 2017, MARINE exhibited a generally satisfactory condition, earning 3 out of 5 stars for safety and soundness. Keep reading for a breakdown of how the credit union did on the three important criteria Bankrate used to grade U.S. 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 as protection for members when a credit union is experiencing financial instability. It follows then that a credit union's level of capital is a crucial measurement of its financial strength. From a safety and soundness perspective, the higher the capital, the better.

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

MARINE appears to be less well prepared for financial trouble than its peers in this area, with a capitalization ratio of 8.00 percent in our test, less than the average for all credit unions.

Asset Quality Score

This test's purpose is to try to understand how the credit union's loan loss reserves and overall capitalization could be affected by troubled assets, such as past-due loans.

A credit union with lots of these types of assets may eventually be required to use capital to cover losses, cutting down on its equity cushion. It also means that there are likely to be many assets that are in non-accrual status and no longer earning money, resulting in reduced earnings and potentially more risk of a future failure.

MARINE scored below the national average of 38.15 on Bankrate's test of asset quality, racking up 36 out of a possible 40 points .

MARINE's ratio of problem assets was 7.00 percent in our test, the same as the national average.

Earnings score

How successful a credit union is at earning money has an effect on its long-term survivability. Earnings may be retained by the credit union, giving a boost to its capital buffer, or be used to address problematic loans, likely making the credit union more resilient in tough times. Conversely, losses take away from a credit union's ability to do those things.

MARINE received below-average marks on Bankrate's test of earnings, achieving a score of 4 out of a possible 30.

MARINE had an earnings ratio of 2.00 percent in our test, better than the average for all credit unions, an indication that it's beating 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.