If there were a Hollywood Walk of Fame for banks, savings and loan associations and credit unions, would your banking institution have a star with its name on it?
There is, of course, a way to find out, and that is Bankrate.com’s quarterly Safe and Sound Ratings report on the safety and soundness of more than 15,000 thrifts, credit unions and national banks. The latest report, for the second quarter of 2010, has been released and the search function on the website has been updated, as of Oct. 8, 2010.
The ratings are compiled into a database that can be searched by the type of institution (bank/thrift or credit union), name, star rating and asset size. The ratings are organized by legal entities, not brand names or bank branches. Bank holding companies and foreign banks that aren't federally insured aren’t included.
A detailed report on each institution includes highlights of earnings, asset quality, capital and liquidity, early warning signs and a commentary.