Safe and Sound

VYSTAR

JACKSONVILLE, FL
4
Star Rating
VYSTAR is an NCUA-insured credit union founded in 1952 and currently headquartered in JACKSONVILLE, FL. Regulatory filings show the credit union having $6.88 billion in assets, as of June 30, 2017.

With 1,244 full-time employees, the credit union holds loans and leases worth $4.81 billion. VYSTAR's 567,452 members currently have $5.35 billion in shares with the credit union.

Overall, Bankrate believes that, as of June 30, 2017, VYSTAR exhibited a good condition, earning 4 out of 5 stars for safety and soundness. Here's a breakdown of how the credit union faired on the three key criteria Bankrate used to grade U.S. credit unions.

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THE INSTITUTION'S SCORE

Capital Score

Capital is a key measurement of an institution's financial fortitude. It works as a buffer against losses and affords protection for members during periods of financial instability for the credit union. From a safety and soundness perspective, more capital is better.

VYSTAR received a score of 8 out of a possible 30 points on our test to measure capital adequacy, coming in below the national average of 15.26.

VYSTAR had a capitalization ratio of 9.00 percent in our test, below the average for all credit unions, suggesting that it's less well prepared for financial trouble than its peers.

Asset Quality Score

This test is intended to estimate how the credit union's loan loss reserves and overall capitalization could be affected by problem assets, such as unpaid loans.

A credit union with large numbers of these kinds of assets could eventually have to use capital to cover losses, diminishing 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, pushing down earnings and elevating the risk of a future failure.

On Bankrate's asset quality test, VYSTAR scored 40 out of a possible 40 points, above the national average of 38.15 points.

A lower-than-average ratio of problem assets of 2.00 percent in our test was potentially indicative of greater financial strength than other credit unions.

Earnings score

A credit union's earnings performance affects its long-term survivability. Earnings can be retained by the credit union, increasing its capital cushion, or be used to deal with problematic loans, potentially making the credit union better prepared to withstand economic shocks. Conversely, losses reduce a credit union's ability to do those things.

VYSTAR received above-average marks on Bankrate's earnings test, achieving a score of 18 out of a possible 30.

VYSTAR had an earnings ratio of 9.00 percent in our test, higher than the average for all credit unions, an indication 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.