Safe and Sound

ALLSOUTH

COLUMBIA, SC
5
Star Rating
ALLSOUTH is a COLUMBIA, SC-based, NCUA-insured credit union founded in 1960. As of December 31, 2017, the credit union held assets of $808.5 million.

Thanks to the work of 281 full-time employees, the credit union currently holds loans and leases worth $539.3 million. ALLSOUTH's 117,995 members currently have $688.1 million in shares with the credit union.

Overall, Bankrate believes that, as of December 31, 2017, ALLSOUTH exhibited a superior condition, earning a full 5 stars for safety and soundness. Keep reading for a breakdown of how the credit union faired on the three key criteria Bankrate used to grade American credit unions on safety and soundness.

WHAT IS
SAFE AND SOUND?

Find out

THE INSTITUTION'S SCORE

Capital Score

Capital is a valuable measurement of an institution's financial resilience. It works as a buffer against losses and provides protection for members when a credit union is experiencing financial instability. From a safety and soundness perspective, the more capital, the better.

ALLSOUTH did better than the national average of 15.65 points on our test to measure the adequacy of a credit union's capital, receiving a score of 20 out of a possible 30 points.

ALLSOUTH had a capitalization ratio of 20.00 percent in our test, above the average for all credit unions, a sign that it's more well prepared for financial trouble than its peers.

Asset Quality Score

This test is intended to estimate how the credit union's reserves set aside to cover loan losses, as well as overall capitalization could be affected by problem assets, such as past-due loans.

Having lots of these kinds of assets may eventually require a credit union to use capital to cover losses, shrinking its buffer of equity. It also means that there are likely to be many assets that are in non-accrual status and thus aren't earning money, resulting in lower earnings and potentially more risk of a failure in the future.

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

A below-average ratio of troubled assets of 0.00 percent in our test was potentially indicative of greater financial strength than other credit unions.

Earnings score

A credit union's profitability affects its safety and soundness. A credit union can retain its earnings, increasing its capital cushion, or put them to work addressing problematic loans, potentially making the credit union more resilient in tough times. Credit unions that are losing money, however, are less able to do those things.

On Bankrate's earnings test, ALLSOUTH scored 16 out of a possible 30, better than the national average of 10.11.

One sign that ALLSOUTH is doing better than its peers in this area was its earnings ratio of 0.00 percent in our test, better than 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.