Safe and Sound

ALL SOULS

NEW YORK, NY
3
Star Rating
ALL SOULS is a NEW YORK, NY-based, NCUA-insured credit union dating back to 1953. The credit union has assets of $176,697, according to December 31, 2017, regulatory filings.

Its 154 members currently have $147,277 in shares with the credit union. With that footprint, the credit union currently holds loans and leases worth $2,062.

Overall, Bankrate believes that, as of December 31, 2017, ALL SOULS exhibited a generally satisfactory condition, earning 3 out of 5 stars for safety and soundness. Here's an analysis of how the credit union did on the three important criteria Bankrate used to evaluate U.S. credit unions.

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THE INSTITUTION'S SCORE

Capital Score

Capital works as a bulwark against losses and affords protection for members during times of economic instability for the credit union. It follows then that when it comes to measuring an an institution's financial resilience, capital is crucial. From a safety and soundness perspective, more capital is better.

ALL SOULS did better than the national average of 15.65 points on our test to measure the adequacy of a credit union's capital, racking up 24 out of a possible 30 points.

ALL SOULS's capitalization ratio of 24.00 percent in our test was higher than the average for all credit unions, suggesting that it could have an easier time weathering financial trouble than its peers.

Asset Quality Score

In this test, Bankrate tries to estimate the effect of troubled assets, such as unpaid loans, 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 absorb losses, diminishing its equity buffer. Many of those assets are also likely to be in non-accrual status and no longer earning interest for the credit union, resulting in depressed earnings and potentially more risk of a future failure.

On Bankrate's test of asset quality, ALL SOULS scored 40 out of a possible 40 points, beating the national average of 38.09 points.

Earnings score

A credit union's profitability affects its long-term survivability. A credit union can retain its earnings, expanding its capital buffer, or put them to work addressing problematic loans, likely making the credit union more resilient in tough times. Conversely, losses take away from a credit union's ability to do those things.

ALL SOULS scored 0 out of a possible 30 on Bankrate's test of earnings, failing to reach the national average of 10.11.

ALL SOULS had an earnings ratio of 0.00 percent in our test, better than the average for all credit unions, a sign that it's doing better than 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.