Safe and Sound

SOUTH CAROLINA NATIONAL GUARD

Columbia, SC
5
Star Rating
Founded in 1966, SOUTH CAROLINA NATIONAL GUARD is an NCUA-insured credit union headquartered in Columbia, SC. The credit union has $70.1 million in assets, according to June 30, 2017, regulatory filings.

Members have $32.1 million on deposit tended by 19 full-time employees. With that footprint, the credit union holds loans and leases worth $32.1 million. Its 6,388 members currently have $56.7 million in shares with the credit union.

Overall, Bankrate believes that, as of June 30, 2017, SOUTH CAROLINA NATIONAL GUARD exhibited a superior condition, earning a full 5 stars for safety and soundness. Keep reading for an analysis of how the credit union did on the three major criteria Bankrate used to score American credit unions on safety and soundness.

WHAT IS
SAFE AND SOUND?

Find out

THE INSTITUTION'S SCORE

Capital Score

Capital works as a cushion against losses and affords protection for members when a credit union is struggling financially. Therefore, an institution's level of capital is a valuable measurement of its financial fortitude. When it comes to safety and soundness, more capital is preferred.

On our test to measure capital adequacy, SOUTH CAROLINA NATIONAL GUARD racked up 26 out of a possible 30 points, beating the national average of 15.26.

SOUTH CAROLINA NATIONAL GUARD appears to be more well prepared for financial trouble than its peers, with a capitalization ratio of 18.00 percent in our test, above 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 problem assets, such as past-due mortgages.

A credit union with large numbers of these types of assets may eventually be required to use capital to cover losses, diminishing its buffer of equity. Many of those assets are also likely to be in non-accrual status and thus aren't earning money, resulting in diminished earnings and potentially more risk of a failure in the future.

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

SOUTH CAROLINA NATIONAL GUARD's ratio of problem assets was 1.00 percent in our test, beneath the national average and suggestive of greater financial strength than other credit unions.

Earnings score

A credit union's profitability has an effect on its safety and soundness. A credit union can retain its earnings, expanding its capital buffer, or put them to work addressing problematic loans, likely making the credit union more resilient in times of trouble. However, credit unions that are losing money are less able to do those things.

On Bankrate's test of earnings, SOUTH CAROLINA NATIONAL GUARD scored 14 out of a possible 30, exceeding the national average of 10.31.

SOUTH CAROLINA NATIONAL GUARD had an earnings ratio of 7.00 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.