Safe and Sound

ST FRANCIS

GREENVILLE, SC
5
Star Rating
GREENVILLE, SC-based ST FRANCIS is an NCUA-insured credit union started in 1966. Regulatory filings show the credit union having $9.7 million in assets, as of June 30, 2017.

Thanks to the efforts of 5 full-time employees, the credit union has amassed loans and leases worth $5.2 million. ST FRANCIS's 2,218 members currently have $8.0 million in shares with the credit union.

Overall, Bankrate believes that, as of June 30, 2017, ST FRANCIS exhibited a superior condition, earning a full 5 stars for safety and soundness. Here's an analysis of how the credit union faired on the three major criteria Bankrate used to score American credit unions on safety and soundness.

WHAT IS
SAFE AND SOUND?

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THE INSTITUTION'S SCORE

Capital Score

Capital works as a bulwark against losses and provides protection for members when a credit union is experiencing economic trouble. Therefore, when it comes to measuring an a credit union's financial strength, capital is valuable. From a safety and soundness perspective, the higher the capital, the better.

ST FRANCIS scored 26 out of a possible 30 points on our test to measure the adequacy of a credit union's capital, beating out the national average of 15.26.

ST FRANCIS's capitalization ratio of 17.00 percent in our test was higher than the average for all credit unions, an indication that it's more well prepared for financial trouble than its peers.

Asset Quality Score

In this test, Bankrate tries to estimate the impact of troubled assets, such as unpaid loans, on the credit union's reserves set aside to cover loan losses, as well as overall capitalization.

A credit union with lots of these kinds of assets may eventually have to use capital to absorb 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, diminishing earnings and elevating the risk of a future failure.

On Bankrate's asset quality test, ST FRANCIS scored 40 out of a possible 40 points, better than the national average of 38.15 points.

A lower-than-average ratio of troubled assets of 0.00 percent in our test was potentially indicative of superior financial strength compared to other credit unions.

Earnings score

A credit union's profitability affects its long-term survivability. Earnings may be retained by the credit union, expanding its capital buffer, or be used to deal with problematic loans, potentially making the credit union more resilient in times of trouble. Losses, on the other hand, take away from a credit union's ability to do those things.

ST FRANCIS received above-average marks on Bankrate's earnings test, achieving a score of 16 out of a possible 30.

One sign that ST FRANCIS is running ahead of its peers in this area was its earnings ratio of 7.00 percent in our test, higher than the average for all credit unions.








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.