Safe and Sound

ACCESS

Bristol, PA
4
Star Rating
BRISTOL, PA-based ACCESS is an NCUA-insured credit union founded in 1972. As of December 31, 2017, the credit union held assets of $42.9 million.

Members have $25.7 million on deposit tended by 11 full-time employees. With that footprint, the credit union has amassed loans and leases worth $25.7 million. Its 5,541 members currently have $36.7 million in shares with the credit union.

Overall, Bankrate believes that, as of December 31, 2017, ACCESS exhibited a good condition, earning 4 out of 5 stars for safety and soundness. Keep reading for a breakdown of how the credit union faired on the three major criteria Bankrate used to evaluate American credit unions.

WHAT IS
SAFE AND SOUND?

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THE INSTITUTION'S SCORE

Capital Score

Capital is a useful measurement of an institution's financial fortitude. It works as a buffer against losses and as protection for members when a credit union is struggling financially. When it comes to safety and soundness, more capital is better.

ACCESS beat out the national average of 15.65 points on our test to measure capital adequacy, achieving a score of 20 out of a possible 30 points.

ACCESS appears to be more well prepared for financial trouble than its peers, with a capitalization ratio of 20.00 percent in our test, better than the average for all credit unions.

Asset Quality Score

Bankrate uses this test to determine the impact of problem assets, such as unpaid mortgages, on the credit union's loan loss reserves and overall capitalization.

A credit union with a large number of these types of assets may eventually have to use capital to absorb losses, reducing its equity cushion. It also means that there are likely to be many assets that are in non-accrual status and no longer earning interest for the credit union, reducing earnings and elevating the risk of a failure in the future.

ACCESS scored 40 out of a possible 40 points on Bankrate's test of asset quality, above the national average of 38.09.

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 can be retained by the credit union, increasing its capital cushion, or be used to address problematic loans, potentially making the credit union better prepared to withstand financial trouble. Credit unions that are losing money, however, have less ability to do those things.

ACCESS fell short of the national average on Bankrate's test of earnings, achieving a score of 0 out of a possible 30.

One indication that the credit union is outperforming its peers in this area was its earnings ratio of 0.00 percent in our test, above 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.