Asset Quality Score
Bankrate uses this test to estimate the effect of problem assets, such as unpaid mortgages, on the credit union's reserves set aside to cover loan losses, as well as overall capitalization.
Having large numbers of these kinds of assets means a credit union could have to use capital to absorb losses, reducing its cushion of equity. Many of those assets are also likely to be 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.
PARKSIDE exceeded the national average of 38.15 on Bankrate's asset quality test, racking up 40 out of a possible 40 points .
PARKSIDE's ratio of troubled assets was 2.00 percent in our test, beneath the national average and potentially indicative of superior financial strength compared to other credit unions.