Safe and Sound

MISSION

SAN DIEGO, CA
5
Star Rating
MISSION is an NCUA-insured credit union started in 1961 and currently headquartered in SAN DIEGO, CA. The credit union has assets of $3.34 billion, according to June 30, 2017, regulatory filings.

With 516 full-time employees, the credit union has amassed loans and leases worth $2.30 billion. Its 213,777 members currently have $2.87 billion in shares with the credit union.

Overall, Bankrate believes that, as of June 30, 2017, MISSION 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 important criteria Bankrate used to evaluate U.S. credit unions on safety and soundness.

WHAT IS
SAFE AND SOUND?

Find out

THE INSTITUTION'S SCORE

Capital Score

Capital is an important measurement of a credit union's financial resilience. It works as a buffer against losses and as protection for members during times of economic instability for the credit union. When it comes to safety and soundness, the more capital, the better.

MISSION scored below the national average of 15.26 on our test to measure capital adequacy, scoring 14 out of a possible 30 points.

MISSION appears to be on less solid financial footing than its peers in this area, with a capitalization ratio of 12.00 percent in our test, less than the average for all credit unions.

Asset Quality Score

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

A credit union with large numbers of these kinds of assets may eventually be required to use capital to cover losses, decreasing 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 lower earnings and potentially more risk of a failure in the future.

MISSION exceeded the national average of 38.15 on Bankrate's asset quality test, racking up 40 out of a possible 40 points .

A below-average ratio of problem assets of 1.00 percent in our test was potentially indicative of greater financial strength than other credit unions.

Earnings score

How successful a credit union is at earning money has an effect on its long-term survivability. Earnings can be retained by the credit union, expanding its capital cushion, 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.

On Bankrate's test of earnings, MISSION scored 16 out of a possible 30, beating out the national average of 10.31.

The credit union had an earnings ratio of 8.00 percent in our test, above the average for all credit unions, suggesting that it's outperforming 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.