Safe and Sound

STREATOR ONIZED

Streator, IL
5
Star Rating
STREATOR ONIZED is an NCUA-insured credit union founded in 1940 and currently headquartered in Streator, IL. As of June 30, 2017, the credit union held assets of $227.2 million.

Members have $157.9 million on deposit tended by 75 full-time employees. With that footprint, the credit union holds loans and leases worth $157.9 million. Its 28,758 members currently have $196.2 million in shares with the credit union.

Overall, Bankrate believes that, as of June 30, 2017, STREATOR ONIZED exhibited a superior condition, earning a full 5 stars for safety and soundness. Keep reading for a breakdown of how the credit union did on the three major criteria Bankrate used to evaluate 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 buffer against losses and affords protection for members when a credit union is experiencing financial trouble. Therefore, when it comes to measuring an a credit union's financial strength, capital is important. When it comes to safety and soundness, the more capital, the better.

STREATOR ONIZED racked up 18 out of a possible 30 points on our test to measure the adequacy of a credit union's capital, better than the national average of 15.26.

STREATOR ONIZED had a capitalization ratio of 13.00 percent in our test, the same as the average for all credit unions, suggesting that it's running neck and neck with its peers.

Asset Quality Score

In this test, Bankrate tries to estimate the impact of problem assets, such as past-due mortgages, on the credit union's reserves set aside to cover loan losses, as well as overall capitalization.

Having a large number of these types of assets means a credit union could have to use capital to cover losses, decreasing its equity cushion. Many of those assets are also likely to be in non-accrual status and no longer earning interest for the credit union, reducing earnings and increasing the chances of a failure in the future.

STREATOR ONIZED scored 40 out of a possible 40 points on Bankrate's asset quality test, beating out the national average of 38.15.

A below-average ratio of problem assets of 3.00 percent in our test was potentially indicative of greater financial strength than other credit unions.

Earnings score

How successful a credit union is at making money affects 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 better prepared to withstand economic shocks. Losses, on the other hand, lessen a credit union's ability to do those things.

STREATOR ONIZED exceeded the national average on Bankrate's earnings test, achieving a score of 14 out of a possible 30.

STREATOR ONIZED had an earnings ratio of 6.00 percent in our test, better than the average for all credit unions, suggesting that it's running ahead of 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.