Safe and Sound

ASSEMBLIES OF GOD

Springfield, MO
5
Star Rating
ASSEMBLIES OF GOD is an NCUA-insured credit union started in 1951 and currently based in Springfield, MO. The credit union holds $159.0 million in assets, according to December 31, 2017, regulatory filings.

Members have $124.7 million on deposit tended by 55 full-time employees. With that footprint, the credit union holds loans and leases worth $124.7 million. ASSEMBLIES OF GOD's 17,644 members currently have $136.7 million in shares with the credit union.

Overall, Bankrate believes that, as of December 31, 2017, ASSEMBLIES OF GOD exhibited a superior condition, earning a full 5 stars for safety and soundness. Keep reading for a breakdown of how the credit union did on the three important criteria Bankrate used to evaluate U.S. credit unions on safety and soundness.

WHAT IS
SAFE AND SOUND?

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THE INSTITUTION'S SCORE

Capital Score

Capital works as a cushion against losses and affords protection for members during periods of economic trouble for the credit union. Therefore, when it comes to measuring an a credit union's financial strength, capital is valuable. When looking at safety and soundness, the more capital, the better.

ASSEMBLIES OF GOD received a score of 14 out of a possible 30 points on our test to measure the adequacy of a credit union's capital, falling short of the national average of 15.65.

ASSEMBLIES OF GOD appears to be weaker than its peers in this area, with a capitalization ratio of 14.00 percent in our test, less than the average for all credit unions.

Asset Quality Score

This test is intended to try to understand 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 unpaid loans.

A credit union with lots of these types of assets may eventually have to use capital to cover losses, diminishing its equity cushion. Many of those assets are also likely to be in non-accrual status and thus aren't earning money, diminishing earnings and elevating the chances of a future failure.

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

A lower-than-average ratio of problem 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. Earnings can be retained by the credit union, expanding its capital cushion, or be used to deal with problematic loans, potentially making the credit union better prepared to withstand economic trouble. However, credit unions that are losing money have less ability to do those things.

On Bankrate's test of earnings, ASSEMBLIES OF GOD scored 18 out of a possible 30, beating out the national average of 10.11.

ASSEMBLIES OF GOD had an earnings ratio of 0.00 percent in our test, better than the average for all credit unions, suggesting that it's beating 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.